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 loan rules

What is VA Loan Bonus Entitlement?

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 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...

Can a Veteran and Fiancé Get a VA Loan Together?

Can a Veteran and Fiancé Get a VA Loan Together?

There are many different circumstances under which you can get a VA loan. Some veterans apply for the loan by themselves without a co-borrower or co-applicant. Others want to apply for a VA loan with one or more fellow veterans,...

Can a Borrower Rent Out a Home Purchased with a VA Loan?

Can a Borrower Rent Out a Home Purchased with a VA Loan?

There are many reasons why a borrower who owns a home purchased with a VA insured mortgage would consider renting out his or her property. Active duty military members who are being reassigned to a new base, for example, might...

The VA Loan Escape Clause: A Reader Question

The VA Loan Escape Clause: A Reader Question

A reader asks, “If an appraisal comes back lower than the contracted price, is the seller required to sign documentation allowing the buyer to cancel the contract?” Borrowers cannot, under the rules and regulations of the VA loan program, be...

VA Clarifies Rules On “Unallowable Fees”

VA Clarifies Rules On “Unallowable Fees”

The Department of Veterans Affairs has issued a Mortgagee Letter clarifying its position on itemized fees, the lender’s flat fee and unallowable fees for VA mortgage loans. According to VA Circular 26-14-10, “Policy Clarification on Unallowable Fees,” there has been...

VA Minimum Property Requirements for Multi-Family Units

VA Minimum Property Requirements for Multi-Family Units

VA loans aren't just for single family dwellings--did you know there are VA loans available for properties with up to four units? The borrower must certify he or she intends to live in one of those units as the primary...

VA Loan Reader Questions: Pending Judgment and Loan Approval

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 Reader Questions: Surviving Spouses

VA Loan Reader Questions: Surviving Spouses

A reader asks, “My husband died, can I use his VA loan to buy a house?” In general, VA loan rules do permit surviving spouses of military members to use the VA loan benefit under certain circumstances. We’ll address those...

VA Loan Rules: Who Can Use the VA Loan Benefit?

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...