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: new home

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 Appraisals and Reconsideration of Value

VA Appraisals and Reconsideration of Value

When a VA loan applicant wants to buy a home, gets a contract sales price, and a VA assigned fee appraiser looks at the property, the results of that appraisal may not correspond with the asking price of the house....

Home Inspections and Asbestos

Home Inspections and Asbestos

In previous blog posts, we've discussed the difference between a VA appraisal, which is required for the sale of a home to move forward, and a home inspection which is an option the borrower should choose (but is not required...

VA Loan Appraisal Fees – How Much Does a VA Home Appraisal Cost?

VA Loan Appraisal Fees – How Much Does a VA Home Appraisal Cost?

VA loans require one very important step to move forward. When a buyer finds a home they want to purchase with a VA mortgage, they must have a VA assigned appraiser look at the home to establish fair market value. The...

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...

What Does the VA Say About Loans for Mobile Homes?

What Does the VA Say About Loans for Mobile Homes?

A number of questions have come in recently about VA guaranteed loans for manufactured homes or mobile homes. Some people mistakenly believe mobile homes are not eligible for VA mortgages, but that is not true. Any manufactured home that meets...

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...

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...

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 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,...