Articles and news about VA loans and HUD requirements. VA loans are a great way to buy a home with no down payment.

Monthly Archives: September 2012

VA Loan Reader Question: Roof Condition and the VA Appraisal

VA Loan Reader Question: Roof Condition and the VA Appraisal

A reader asks, "We are considering a property that is competitively priced as a short sale in Oregon. We went and viewed the property today with our Realtor and she took one look at the roof and indicated that it...

Are You Considering a VA Interest Rate Reduction Refinancing Loan on a Delinquent Mortgage?

Are You Considering a VA Interest Rate Reduction Refinancing Loan on a Delinquent Mortgage?

VA borrowers have the option of applying for a VA Interest Rate Reduction Refinancing Loan on a delinquent mortgage. VA loan rules don't allow "automatic approval" on these types of loans (where the original mortgage is 30 days or more...

Pre-Purchase VA Loan Advice

Pre-Purchase VA Loan Advice

Before you commit to buying a home with a VA mortgage, there are several things the Department of Veterans Affairs wants you to know about; on the official site you will find several Frequently Asked Questions lists with advice on...

VA Loans For Spouses: A Reader Question

VA Loans For Spouses: A Reader Question

A reader asks, "I was married to a Navy man for 18 years. He has a VA loan and I want to know if I am eligible for a VA loan also because I was awarded spousal support and he...

VA Minimum Property Requirements, Appraisals, and Local Building Codes: A Reader Question

VA Minimum Property Requirements, Appraisals, and Local Building Codes: A Reader Question

A reader asks, "We have found a home that we love, had the offer accepted and now just waiting on the appraiser. The house was built in 1890 and is in wonderful condition with a dry basement, all appliances and...

VA Construction Loans: A Reader Question

VA Construction Loans: A Reader Question

A reader asks, "Do you have any information on lenders that will do a VA Construction loan?"

Questions like these are common, as are similar questions such as, "Why can't I find a lender willing to do a mobile home loan?"...

VA Loan Reader Question: Eligibility After Foreclosure

VA Loan Reader Question: Eligibility After Foreclosure

A reader asks, "I am a vet who walked away from my home in 2009 (a BAC-mortgaged property). The foreclosure went down on April 1st, 2011. I have been renting since October 2009. For VA purposes, my 24-month waiting period...

VA Loan Reader Question: Funding Fee Refunds

VA Loan Reader Question: Funding Fee Refunds

A reader asks, "In 2003 I purchased a home using VA loan and the funding fee was applied to my loan. I just found out that I should not have been charged the funding fee since I had a 10%...

VA Loan Issues and the Regional Loan Center

VA Loan Issues and the Regional Loan Center

There was a comment left by a reader this week which includes the following:

"...The appraiser did not do his job correctly and now we are in a waiting game with the VA and the seller. Our appraiser did his comparisons...

VA Loan Reader Question: Refinancing Loan Terms and Conditions

VA Loan Reader Question: Refinancing Loan Terms and Conditions

A reader asks, "I recently signed my refinance paperwork using the VA IRRRL process. One of our concerns were occupancy requirement because we might be transferring soon. According to the VA: “The occupancy requirement for an IRRRL is different from...