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Tag Archives: VA loan requirement
What is VA Loan Bonus Entitlement?
A common question about VA loans is, “How much loan can I get?” The answer depends on what value you’re referring to. The VA’s official site states that the basic entitlement for VA loans is $36,000. However, that is NOT...
VA Loan Reader Questions: Pending Judgment and Loan Approval
A reader asks, “Can you get a VA loan if there is judgment against you or pending?” Chapter Four of the VA Lenders Handbook has a great deal to say about a variety of credit issues. Borrowers are expected to...
VA Loan Rules: Who Can Use the VA Loan Benefit?
A reader asks, “I was honorably discharged from the Navy after serving for 4 years. I was wondering if my mom can use my VA home loan to buy build a new house on her land?” The short answer is no. According to...
VA Loan Reader Questions: Construction Exhibits
A reader asks, “My home has not been built yet, and I am waiting on the VA Appraisal. I wanted to know if it is necessary to have an engineered, stapled and signed copy of the blueprints for the appraiser to do the appraisal? “I have the blue...
VA Loans and Realtor Commission: Does The Borrower Pay?
A reader asks, “Can seller concessions cover a part of realtor’s commission if it states buyer to pay it in contract?” VA loan rules address this issue in a specific way, but not the way the reader who contacted us...
VA Loan Occupancy: A Reader Question
A reader asks, “Started a VA refi on my current home 6 mos. ago. Just got the loan to upgrade my home. During the time slot, I got married and need a larger home. Is it possible for me to...
VA Loan Reader Questions: Buying Another Home With A VA Home Loan
A reader asked us recently, “I have a house in NY. I purchased 1999 thru the VA loan process. In 2009 I tranferred to NC. I was unable to sell my house so I made it a rental property. I have...
Appraisal Requirements For Finished Basements
A reader asks, “I have a question regarding finish basements and the VA appraisal of them. The home is advertised as single family ranch home with 3 bedrooms. Two bedrooms are located on the main floor with the third in...
VA Loan Reader Questions: VA Loan Entitlement Restoration
A reader asks, “We bought our first home on January 2014. Is a two story home and he has severe a back condition the stairs are making his situation worst to the point that is affecting our family. We are...
VA Loan Down Payments? A Reader Question
A reader asks, “I thought when you bought a home using my VA benefits that there was no money down. If I purchase a home for $204,000 what are the additional costs now? What is this VA funding fee and...