VA Loans and Pre-Payment: Is There a Penalty?
One of the most attractive features of a VA-insured mortgage is the no-money down option. Borrowers who choose a zero-down payment may pay more in VA loan funding...
VA guidelines
Getting VA Loan Eligibility Restored After a Short Sale
Our recent blog posts have covered topics related to the short sale of a home purchased with a VA loan. It's easy to assume you're locked out of...
VA Loan Reader Questions: Does Rental Income Qualify as Verifiable Income for a VA Home Loan?
A reader asks, "Can the rental income from a multi unit property be used at least partially to qualify for the loan? I know in the past that...
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...
VA Loan Minimum Property Requirements: Are There Exceptions?
The Department of Veterans Affairs has a set of standards for all properties to be purchased with a VA-insured home loan. The VA will not approve loans for...
VA Loan Questions: VA Funding Fee Exemptions for Disabled Veterans
A reader asks, "I was told when I separated from the US Air Force that I was eligible for a VA funding fee refund because I am a...
VA Appraisals and the Borrower’s Responsibilities
We in the VA loan business—real estate agents, lenders, brokers, and property inspectors, etc.—throw around terms that can be a bit misleading to the new VA borrower. One...
VA Loans and The 24-Month Rule
VA loans have strict eligibility rules which include requirements for minimum time on duty. Veterans cannot be approved for a VA home loan unless they meet these VA...
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....
VA Loans and Income Verification: Foster Care Income
A recent reader comment raises a very good question. One reader asks, "I am a foster parent...in the process of trying to get a VA loan, and was...