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

Category Archives: VA guidelines

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 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...

Do VA Loans Require an Escrow Account?

Do VA Loans Require an Escrow Account?

When a VA borrower applies for a VA mortgage and closes the deal, they're responsible for more than just making their monthly mortgage payments on the VA loan. There are property taxes to pay, hazard insurance premiums and other items that...

VA Loan Applications: Verification of Income

VA Loan Applications: Verification of Income

VA loan requirements include verification of income. Borrowers must show stable, reliable income that is likely to continue. The VA generally asks for at least two years worth of documentation showing such income and employment. But some borrowers can't show...

Can I Use a VA Loan to Consolidate My Debt?

Can I Use a VA Loan to Consolidate My Debt?

Several recent questions from readers have raised the issue of what VA loans can and cannot be used for; on several occasions we've gotten queries about whether it's possible to use a VA home loan as a debt consolidation tool....

VA Loan Assumption

VA Loan Assumption

One of the attractive things about VA home loans is that they are assumable--a veteran can "sell" the home by allowing a third party to assume the VA loan payments and responsibility for the mortgage. According to the Department of...

What is the VA Loan Escape Clause?

What is the VA Loan Escape Clause?

There are many different ways to buy a home using a VA mortgage loan. Sometimes the buyer finds a home they really want, work with the seller to come to an agreed-upon price and other terms, and then agree in...

VA Clarifies Rules On “Unallowable Fees”

VA Clarifies Rules On “Unallowable Fees”

The Department of Veterans Affairs has issued a Mortgagee Letter clarifying its position on itemized fees, the lender’s flat fee and unallowable fees for VA mortgage loans. According to VA Circular 26-14-10, “Policy Clarification on Unallowable Fees,” there has been...

Getting VA Loan Eligibility Restored After a Short Sale

Getting VA Loan Eligibility Restored After a Short Sale

ur most recent blog posts have covered topics related to the short sale of a home purchased with a VA loan. It's easy to assume you're locked out of the housing market after having to resort to a short sale...

What a Buyer Cannot Do With a VA Loan

What a Buyer Cannot Do With a VA Loan

In our last blog post we covered things you can do with a VA home loan aside from purchasing a traditional suburban home. For example, you can buy a mobile home and lot, you can purchase land and have a...