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 requirements

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....

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...

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...

The VA Loan Escape Clause: A Reader Question

The VA Loan Escape Clause: A Reader Question

A reader asks, “If an appraisal comes back lower than the contracted price, is the seller required to sign documentation allowing the buyer to cancel the contract?” Borrowers cannot, under the rules and regulations of the VA loan program, be...

VA Loan Rules on Ventless Fireplaces

VA Loan Rules on Ventless Fireplaces

When a VA borrower goes house hunting, they'll find a wide range of options, including swimming pools and fireplaces. When a VA loan applicant finds a home that has a ventless units, there are VA requirements that must be met...

VA Loans: Property Tax and Insurance Requirements

VA Loans: Property Tax and Insurance Requirements

When buying a home with a VA insured loan, borrowers learn that the Department of Veterans Affairs has a set of requirements which include "sufficient hazard insurance" and payment of all property taxes. The VA loan program, like FHA loans,...

VA Loans and Condo Project Approval Procedures

VA Loans and Condo Project Approval Procedures

We frequently get questions about VA condo loans. One commonly asked question involves the details of the VA condo approval process. If a borrower wants to purchase a condo unit with a VA guaranteed loan, the project must be VA...

Getting a Second VA Loan

Getting a Second VA Loan

Many VA borrowers apply for their first VA mortgage not thinking about what they might want or need years down the line. That first home may seem perfect when it's first purchased, but many first time home owners outgrow that...

Can a Veteran get a VA Loan with a Non-Veteran?

Can a Veteran get a VA Loan with a Non-Veteran?

There are plenty of situations where a veteran and a non-veteran might want to purchase a home together. For the purpose of this blog post, a non-veteran is someone who is not legally married to the veteran or considered a...