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: VA appraisals

VA Appraisal Requirements: A Reader Question

VA Appraisal Requirements: A Reader Question

A reader asks, “Feeling discouraged. We love the home (with 2 separate residences on property). The seller accepted our offer. It is a foreclosure. The house has been vandalized. The stove top, refrigerator, one of the two toilets taken, as...

Changes To VA Loan Appraisal Policies For Hawaii Properties

Changes To VA Loan Appraisal Policies For Hawaii Properties

The Department of Veterans Affairs has changed its policies for VA loans on properties located in Hawaii. According to VA Circular 26-14-4, “Clarification of the Department of Veterans Affairs (VA) Acceptance of Water Catchment Systems in the State of Hawaii”,...

Which VA Loans Allow Cash Back To The Borrower?

Which VA Loans Allow Cash Back To The Borrower?

There’s a common type of question associated with VA home loans–many borrowers are interested in getting cash back at closing time from loan proceeds from their home loans. But which VA home loans allow this? Can a borrower, as some...

VA Loan Appraisal Fees, Compliance Inspection, and Home Inspection Fees: Who Pays?

VA Loan Appraisal Fees, Compliance Inspection, and Home Inspection Fees: Who Pays?

In our previous blog post we discussed the difference between a VA appraisal and a home inspection. VA appraisals are mandatory as part of the loan approval process, but the home inspection process is not–it’s an optional (but strongly recommended)...

VA Appraisals and Home Inspections: What’s The Difference?

VA Appraisals and Home Inspections: What’s The Difference?

When it’s time to commit to a property to buy using your VA home loan benefits, before the loan can be approved there must be an appraisal, conducted by a VA assigned fee appraiser. This process establishes the fair market...

VA Loan Occupancy Rules: A Reader Question

VA Loan Occupancy Rules: A Reader Question

A reader asks, “If you currently have a mortgage in one state not using your VA eligibility and are considering a move to another state and would like to buy a house using the VA loan but have not yet...

VA Loan Applications: Income Verification Methods

VA Loan Applications: Income Verification Methods

Recently we posted some information about VA guidelines regarding income, employment, and how these are verified for the purposes of VA loan approval. We mentioned that only verifiable income can be used for a VA mortgage loan application–the lender must...

VA Announces Special Relief Following Midwestern Tornadoes

VA Announces Special Relief Following Midwestern Tornadoes

The Department of Veterans Affairs has announced special relief for those affected by recent tornadoes in the midwest. According to VA Circular 26-13-26, a VA-initiated forbearance request has been made to participating VA lenders for those directly and indirectly affected....

Are VA Loan Funds Available For Non-Home Loan Use? A Reader Question

Are VA Loan Funds Available For Non-Home Loan Use? A Reader Question

A reader asks, “Can the VA loan program help someone who needs help to pay off some debt collectors in order to raise their credit score to be eligible for a VA loan? If so, how can they help, and...

VA Appraisal Requirements: A Reader Question

VA Appraisal Requirements: A Reader Question

A reader asks, “Must the home have a dishwasher? If there is a space for a dishwasher, must it be in place or is it optional? Is a termite inspection required? Must the house have section 1 and section 2...

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