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: June 2013

VA Streamline Refinance Loan Basics

VA Streamline Refinance Loan Basics

Refinancing your existing VA home loan may be simpler than you thought if you’re applying for a VA Streamline Refinance Loan. Streamline refinancing, also known as a VA Interest Rate Reduction Refinancing Loan or IRRRL, has no VA-required credit check...

VA Loan Reader Questions: Can I Refinance My FHA Loan with a VA Mortgage?

VA Loan Reader Questions: Can I Refinance My FHA Loan with a VA Mortgage?

A reader asks, “I’m a veteran and I have never used my VA Loan benefits. I’ve been in my home for 7 years under the FHA program and would like to inquire how I can refi with the VA?” This...

VA Loan Reader Questions: VA Appraisal Requirements For Crawlspaces and Attics

VA Loan Reader Questions: VA Appraisal Requirements For Crawlspaces and Attics

A reader asks, “I had a VA appraisal done two weeks ago. The appraiser told me he had been an appraiser for 15 years. He seemed to know what he was doing but when I asked him if he wanted...

VA Appraisal Issues and VA Loan Questions

VA Appraisal Issues and VA Loan Questions

A reader asks, “I am trying to buy a house. It was a single wide but was rebuilt and doubled in size. When they appraised it 6 years ago they classified it as a house, not a trailer.” “I have...

VA Announces Relief For VA Borrowers Affected by Colorado Fire

VA Announces Relief For VA Borrowers Affected by Colorado Fire

The Department of Veterans Affairs has issued VA Circular 26-13-11, which announces mortgage relief and other information for those with VA mortgages who are affected by the fire in Colorado Springs, Colorado. According to the circular, “Directly affected by the...

Restoring VA Eligibility: Eligibility Restoration Forms

Restoring VA Eligibility: Eligibility Restoration Forms

A reader asks, “I’m looking at using my VA., I used it once before in 1990, but sold that home. I haven’t used it since. I need to know what steps I need to take in using it again, please...

VA Loan Reader Questions: VA Appraisal Requirements

VA Loan Reader Questions: VA Appraisal Requirements

A reader asks, “I am purchasing a home and had a VA appraisal one week ago. He sent a message that as part of the Tidewater Initiative he is letting us know that the appraised value appears to likely to...

Are VA Loans Available For The Good Neighbor Next Door Program?

Are VA Loans Available For The Good Neighbor Next Door Program?

There is a program offered by the Department of Housing and Urban Development known as the Good Neighbor Next Door program, or GNND for short. Under this HUD program, the government “offers HUD owned single family (one-unit) homes to eligible...

VA Loan Reader Questions: The VA Loan Amount

VA Loan Reader Questions: The VA Loan Amount

A reader asks,  “Can you get a VA loan for over the agreed price between you and the seller as long as it doesn’t exceed the appraised price? For example, the home appraises for $175,000 and your offer of $159,900...

VA Loan Reader Questions: Is an Escrow Account Required?

VA Loan Reader Questions: Is an Escrow Account Required?

A reader asks, “I just finalized our refi using VA loan at 15yrs fixed with 2.25 interest rate. I asked the lender about paying the property tax and home insurance–if I need to have an escrow account. They said it is...