VA Loan Information
Guidelines and Important Information
Overview of the VA Home Loan Program
The more you know about the VA home loan program, the more you will realize how little "red tape" there
really is in using this veteran benefit. Find out how easy it is to get started.
VA Guaranteed Home Loans for Veterans
VA Pamphlet 26-4:
A Quick Guide for Veteran Homeowners and Real Estate Professionals
The main purpose of the VA home loan program is to help veterans finance the purchase of homes with favorable loan terms and at a rate of interest which is competitive with the rate charged on other type of mortgage loans. This pamphlet should help you to understand what the Department of Veterans Affairs can and cannot do for the veteran home purchaser.
VA Pamphlet 26-6:
Manufactured Home Loans for Veterans
This pamphlet is designed to help veterans planning to purchase or construct homes, particularly those veterans who intend to finance with a VA construction loan. It does not try to discuss the arguments
for or against homeownership. It is up to each veteran to decide whether homeownership is best for his or her family.
VA Pamphlet 26-71-01:
VA Direct Home Loans for Native Americans on Trust Lands
The questions and answers included in this pamphlet about this VA benefit are intended to cover major items of interest to veterans interested in buying a manufactured (mobile) home with a VA mortgage.
VA Pamphlet 26-93-1:
Fact Sheet on VA Guaranteed Loans
VA direct home loans are available to eligible Native American veterans who wish to purchase or construct a home on trust lands with a VA mortgage.
VA guaranteed loans are made by private lenders, such as banks, savings & loans, or mortgage companies to eligible veterans for the purchase of a home which must be for their own personal occupancy. To to use this VA benefit, a veteran must apply to a lender.
VA LOAN ARTICLES
Read About Veteran Mortgage News, Updates, and Guidelines
Basic Rules You Should Know About ARMs
In the same way that the real estate market itself goes through cycles, so does the popularity of certain types of VA home loans. This has a lot to do with the general state of the economy and personal preferences.
Signing a Sales Contract Before VA Appraisal Results
When shopping for a home to purchase using a VA guaranteed home loan, sometimes there are situations where the borrower is asked to sign a sales contract before getting the results of the VA appraisal.
Can a Spouse Alone Apply for a VA Loan?
One not-so-frequently asked VA loan question (but one that is important to address regardless) involves the eligibility of a spouse to apply for a VA loan without the participation of the veteran.
Hazard Insurance for Condos and Townhomes
VA home loan rules do not include a requirement for private mortgage insurance. In essence, the VA holds the lender responsible for making sure the appropriate hazard insurance is obtained for properties that may be affected by known flood zones.
VA Loan Funding Fee Exemptions and Second Time Use
When you buy a home with a VA mortgage, there are associated fees and expenses including VA appraisal fees, and the VA loan funding fee. Generally, all Veterans using the VA Home Loan Guaranty benefit must pay a funding fee.