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: April 2013

VA Loan Reader Questions: VA Refinance Loans and Eligibility

VA Loan Reader Questions: VA Refinance Loans and Eligibility

A reader asks, “I’m in the process of refinancing my house via an IRRRL. Once the process is finalized, I plan on renting the house. Am I eligible to purchase a bigger house with my VA?” There are two basic...

VA Loan Reader Questions: Construction Loan Rules

VA Loan Reader Questions: Construction Loan Rules

A reader asks, “Will the VA loan cover the land and construction, or will I need two separate loans?” VA loan rules explain what can be done with a VA mortgage loan. There are approved uses for a VA loan...

VA Loan Questions: Military Income

VA Loan Questions: Military Income

A reader asks, “I understand they ask for 2 years work history. What if you are CURRENTLY on active duty and have only been on active duty for a few months, with no prior work history. Is the 2 year...

Proposed 2014 VA Budget Could Increase, Cut Backlog

Proposed 2014 VA Budget Could Increase, Cut Backlog

The VA official site includes a press release this week that the proposed budget for 2014 could result in a 10% increase in funding for the Department of Veterans Affairs as a whole. While that may not directly translate into...

VA Loan Refinancing: Can A Borrower Get Cash Back At Closing Time?

VA Loan Refinancing: Can A Borrower Get Cash Back At Closing Time?

When you apply for a VA Interest Rate Reduction Refinance Loan, you’re getting a different type of loan product than a VA Cash-Out Refinance loan. There is no VA-required credit check in most cases, nor is there a VA-required appraisal....

VA Loan Reader Questions: Transferring A VA Loan To A Dependent

VA Loan Reader Questions: Transferring A VA Loan To A Dependent

A reader asks, “I was married to a veteran (who) passed away…I will like to know if I can transfer my VA loan to my daughter?” The answer to this question depends on a variety of factors, but assuming all...

VA Loan Reader Questions: Multi-Unit Properties

VA Loan Reader Questions: Multi-Unit Properties

A reader asks, “How about if I purchase a multi-family home, say 4 to six families, that I intend to use as my primary and legal residence? Will the VA guarantee the loan?” The VA loan program allows a single...

VA Loan Reader Questions: Can I Have Multiple VA Home Loans?

VA Loan Reader Questions: Can I Have Multiple VA Home Loans?

A reader asks, “Can I purchase another home while already using my VA loan benefits?” The answer is difficult without knowing more about the borrower’s situation, and unfortunately there is no one-size-fits-all answer. A VA borrower who has a home...

VA Loan Reader Questions: How Much Are My Appraisal Fees?

VA Loan Reader Questions: How Much Are My Appraisal Fees?

A reader asks, “What is the cost of a VA appraisal on previously owned home and property?” The answer isn’t as simple as quoting a price–VA appraisal fees vary from state to state, and in some cases may vary depending...

VA Loan Reader Questions: Refinance For Conventional Loans?

VA Loan Reader Questions: Refinance For Conventional Loans?

Over the weekend, a reader asked, “Is there a VA refinance loan for conventional mortgages?” This reader will be happy to learn about the VA cash-out refinancing program, which is available to refinance existing VA mortgages or conventional loans. The...