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: February 2015

VA Loan Rules: Spousal Income

VA Loan Rules: Spousal Income

One frequently asked question about VA home loans involves whether a spouse's income can be counted on the VA loan application for the purposes of calculating the debt-to-income ratio.

It is easy to assume that a VA loan application with spouse...

VA Loan Reader Questions: Funding Fees and Tax Deductions

VA Loan Reader Questions: Funding Fees and Tax Deductions

A reader asks, "Can anyone tell me where I can find up-to-date (2013) information of VA home loan funding fee and if it is tax deductible?" The VA published some revised guidelines for VA loan funding fees in a mortgagee letter...

Can a Veteran and Fiancé Get a VA Loan Together?

Can a Veteran and Fiancé Get a VA Loan Together?

There are many different circumstances under which you can get a VA loan. Some veterans apply for the loan by themselves without a co-borrower or co-applicant. Others want to apply for a VA loan with one or more fellow veterans,...

Loan Eligibility: Who Else Can Qualify?

Loan Eligibility: Who Else Can Qualify?

In a recent blog post we discussed applying for VA loan eligibility and how it can be done through the lender. Active duty military, retired and separated military, plus members of the National Guard and Reserve who meet the time...

Beware of VA IRRRL Scams

Beware of VA IRRRL Scams

We get plenty of reader comments and questions, but lately we've noticed a trend in the comments about a possible scam targeting people with VA mortgages. There's been an increase in questions asking about third-parties who contact home owners about...

Can a Borrower Rent Out a Home Purchased with a VA Loan?

Can a Borrower Rent Out a Home Purchased with a VA Loan?

There are many reasons why a borrower who owns a home purchased with a VA insured mortgage would consider renting out his or her property. Active duty military members who are being reassigned to a new base, for example, might...

VA Loan Reader Questions: Termite Inspections

VA Loan Reader Questions: Termite Inspections

A reader asks, “We are currently refinancing our home – and we are using the VA process. They are requesting us to get a termite (WDO) inspection. My question is: Does the VA require this termite inspection? We live in...

What Does the VA Say About Loans for Mobile Homes?

What Does the VA Say About Loans for Mobile Homes?

A number of questions have come in recently about VA guaranteed loans for manufactured homes or mobile homes. Some people mistakenly believe mobile homes are not eligible for VA mortgages, but that is not true. Any manufactured home that meets...

VA IRRRL Facts

VA IRRRL Facts

Borrowers who apply for VA home loans are eligible to apply for a VA Interest Rate Reduction Refinancing Loan or IRRRL after they have made a minimum of six mortgage payments and meet other "seasoning" or minimum waiting period requirements...

VA Certificate of Eligibility: Reservists and National Guard

VA Certificate of Eligibility: Reservists and National Guard

In our last blog post we discussed how regular active duty military members and Guard/Reservists who have served on active duty can apply for their VA loan certificate of eligibility. Getting that certificate is the very first step in taking...