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

Tag Archives: IRRRL

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...

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....

Restoring Previously Used VA Loan Entitlement

Restoring Previously Used VA Loan Entitlement

When you use your VA loan benefits for the first time, there is no question about the amount of entitlement you have once your eligibility for the loan has been established. But what about those who have taken out VA...

VA Cash Out Refinance Loans: Some Basics

VA Cash Out Refinance Loans: Some Basics

VA Cash-Out Refinancing loans are available for qualified applicants for any type of home loan refinance including existing VA mortgages, conventional loans, even FHA-insured loans. Borrowers may take cash out on the refinancing loan once the original mortgage has been...

VA Loans and Local Building Codes: A Reader Question

VA Loans and Local Building Codes: A Reader Question

A reader asks, “I am looking at a specific house and the basement has a bathroom in it but behind a door in the basement there is the electrical breaker box. The house was built in 1974 and this was...

VA Announces Special Relief During Government Shutdown

VA Announces Special Relief During Government Shutdown

The Department of Veterans Affairs has issued a new VA Circular announcing special relief for VA borrowers affected by the government shutdown. According to the VA Circular titled, “Special Relief Following the Federal Government Shutdown” the VA has issued a...

VA Loan Occupancy Rules Between States: A Reader Question

VA Loan Occupancy Rules Between States: A Reader Question

A reader asks, “If a veteran has a VA loan in another state, can a second VA loan be obtained in a different state?” The VA loan occupancy rules require a borrower to certify that a home purchased with a VA...

VA Loan Service Requirements For Guard and Reserve Members

VA Loan Service Requirements For Guard and Reserve Members

Recently we’ve gotten several reader questions about the VA loan service requirements proofs and proof of eligibility requirements members of the Guard and Reserves must meet to become eligible for a VA insured mortgage. The VA Lender’s Handbook, VA Pamphlet 26-7,...

VA Loans and Your Credit: What You Need to Know

VA Loans and Your Credit: What You Need to Know

Some who are new to their VA loan benefits might confuse being eligible to apply for a VA mortgage loan with actual approval of the VA loan itself. However, the Department of Veterans Affairs spells out in VA Pamphlet 26-7...

VA IRRRL: Who Can Apply?

VA IRRRL: Who Can Apply?

In recent weeks we’ve fielded several questions from readers about VA loan refinancing with the VA Interest Rate Reduction Refinancing Loan, also known as a VA Streamline Refinance or IRRRL. There are many situations where a borrower might need to...