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: military service

VA Issues Guidance For Principal Reduction On VA Home Loans

VA Issues Guidance For Principal Reduction On VA Home Loans

The Department of Veterans Affairs has issued some guidance for lenders about principal reduction for VA mortgages. Borrowers who get into trouble with conventional or FHA home loans often wind up discussing foreclosure avoidance options that include principal reduction —...

VA Loan Appraisal Rules for Electrical Systems, High Voltage Lines

VA Loan Appraisal Rules for Electrical Systems, High Voltage Lines

There are a variety of frequently asked questions about appraisals, and some of those questions involve the rules covering electrical systems, high voltage and related topics. Since not all homes sold are brand-new, borrowers are right to wonder what the...

VA Loans: Where Can I Purchase A Home Using A VA Loan?

VA Loans: Where Can I Purchase A Home Using A VA Loan?

There are many issues that affect a veteran's decision to purchase a home. When applying for a VA loan, a borrower may be in the middle of a military career with many years to go before retirement, recently separated or...

VA Loans: Enlistment Verification

VA Loans: Enlistment Verification

Military members applying for VA insured home loans should know about the VA loan rules for service members within a year of their current re-enlistment date. The Department of Veterans Affairs has specific requirements for VA loan applicants currently serving...

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: 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 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 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...

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 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...