VA loans

VA Loan Reader Questions: Help With VA Appraisals and Loan Approval

March 7, 2014

VA Loan Reader Questions: Help With VA Appraisals and Loan Approval

064-logoA reader asks, “I recently applied for a VA loan to refinance my home. My home is a manufactured home on a permanent foundation. It was purchased and placed on this property in 1998… Our master bedroom was quite small, so we added another larger room onto this. It is not attached and is on its own foundation.”

“The lender tells me that the VA will not approve this loan! Where can I get answers to this? You used to be able to call a number and talk with SOMEONE who could assist you and answer your questions. You also used to have access to brochures which could answer other questions you might have. Now you can only call an 800 number, if lucky get a call back in half an hour only to be told to call another 800 number.”

There are a variety of reasons why a VA loan or VA refinance loan might not be approved, including VA minimum property requirement issues depending on local or state building code issues and other conditions. Borrowers who aren’t sure why the loan was turned down should begin by discussing the matter in detail with the lender.

Beyond that, a borrower can contact the VA Regional Loan Center (RLC) for assistance. It’s important to contact the VA RLC with jurisdiction over your geographic area–the right center will have more information about requirements and issues that may be unique to your area. You can find the VA Regional Loan Center with jurisdiction over your region at the VA official site’s RLC page.

There is a list of contact phone numbers and physical addresses for each RLC, or borrowers can contact the VA directly at 1-800 827-1000 to get information on the VA RLC nearest them. VA 800 hotline numbers are answered in the order the calls are received and borrowers may experience “on hold” waiting times depending on the VA workload and the number of calls coming in on any give day.

Do you have questions about VA home loans? Ask us in the comments section.

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