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 Reader Questions: Buying Land With a VA Loan

VA Loan Reader Questions: Buying Land With a VA Loan

A reader asks, "Can I use a VA loan to buy land in order to build on?" There are two sections of the VA loan rules which offer guidance for the eligible uses of VA loans. One is Chapter 3...

VA Loans: What is the Notice of Value?

VA Loans: What is the Notice of Value?

When a veteran or active duty servicemember wants to pre-qualify for a VA home loan, they fill out the application paperwork with a lender and start looking for a home within their price range. The appraisal gives the Department of...

VA Loans and Other Than Honorable Discharges

VA Loans and Other Than Honorable Discharges

There are several different ways a military member can leave the service. One is to complete 20 years or more of service and apply for military retirement. Another is to simply allow the current term of enlistment to expire without re-enlisting....

VA Appraisals: How Long Until a Notice of Value Expires?

VA Appraisals: How Long Until a Notice of Value Expires?

VA rules state that any property to be purchased with a VA insured loan must have a notice of value assigned after being reviewed by a VA assigned appraiser. The notice of value or NOV for short allows the VA...

How Long Do I Have to Serve to for VA Loan Eligibility?

How Long Do I Have to Serve to for VA Loan Eligibility?

VA home loans are one of the benefits Americans receive from the government for serving their country in the U.S. military. When many new recruits enlist, chances are they aren’t thinking about VA loans; the GI Bill is often the...

VA Loans: What Does “Basic Entitlement” Mean?

VA Loans: What Does “Basic Entitlement” Mean?

When new VA borrowers read the details of the VA loan guaranty program, there is sometimes a bit of confusion on what some of the basic terminology means. When learning about the VA loan process, the new borrower discovers that...

VA Loan Funding Fee Refunds: Cash Back?

VA Loan Funding Fee Refunds: Cash Back?

VA loans require payment of a VA loan funding fee. Some borrowers are exempt from paying this fee; the Department of Veterans Affairs does not require funding fees from veterans who receive (or are eligible to receive) VA compensation for...

Can I Purchase a Boat or RV With My VA Loan Benefits?

Can I Purchase a Boat or RV With My VA Loan Benefits?

One common question about VA home loans involves the purchase of properties other than suburban homes. VA loan benefits allow buyers to purchase a condo, mixed-use property, multi-family units, manufactured or modular homes and many other options. Not all lenders...

VA Loan Facts About Short Sales

VA Loan Facts About Short Sales

When a borrower gets into financial trouble and has difficulty making VA mortgage loan payments, sometimes the only alternative to foreclosure is something called a short sale--where the borrower sells the home for less than it is worth or less...