One of the most common questions we receive about the VA appraisal pertains to the expiration date and appraisal reuse.
The Department of Veterans Affairs will not guaranty loans that restrict the borrower’s ability to sell or dispose of the property.
There are a few things you should know if you're looking into buying a foreclosed home with your VA loan.
If you're eligible for a VA loan, you now have options to either buy a fixer-upper with a VA loan, or make improvements to a home you already own.
Any property without a fixed, permanent foundation, including boats and recreational vehicles, cannot be approved for a VA guaranteed home loan because lack of a permanent foundation.
There are a few different options you can take if you recently inherited a home that was purchased with a VA loan.
Joint VA loans look slightly different from a traditional VA purchase loan, because the VA guaranty will only cover the Veteran's portion of the loan.
VA loan entitlement comes in two forms (basic VA loan entitlement, and bonus entitlement). Bonus entitlement can be used with any remaining VA loan basic entitlement or on its own.
VA loan rules have no prohibition against a borrower owning another property purchased with a non-VA loan while trying to apply for a new-purchase VA mortgage or refinance loan.
For married couples looking for a VA home loan, when both are in the military, there are a variety of options when it comes to using VA insured loan benefits.
Banks and lenders frequently sell mortgages after closing, but the terms of your mortgage and regular payments will not change with a new servicer.
Veteran homebuyers oftentimes choose to use the VA home loan benefit to purchase a home because of the zero down payment requirements. Some may not be aware of another option out there that’s available to non-veteran buyers that offer 100% financing as well.
Before you can use your VA loan benefits, you'll need the help of a VA approved lender. Here are 5 steps to compare the nation's top VA lenders.
In a sense, yes, there’s a commuter rule. But the VA does not explicitly describe distance requirements, leaving lenders to calculate commuter expenses on their own.
Eligible veterans and military homebuyers can use the VA home loan benefit to buy a second home. See some examples and learn how to restore entitlement.
VA loans to individual borrowers are simpler than the requirements for VA loans to two or more borrowers. Read here about the different rules for borrowers.
The VA does not specifically reference what age a home can be. There are other factors, however, that must be considered when buying an older home.
If you're interested in buying a particular home with a VA-insured loan, that property must meet a set of minimum standards, called VA Minimum Property Requirements, or MPRs for short.
If you've recently gone through a foreclosure, you may be wondering if you'll ever be able to purchase a home again. Fortunately, it's often possible to buy a home after a foreclosure if you've rebuilt your credit and met the waiting or seasoning period.
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.
Do you know the circumstances where you are allowed to sell the home and have the seller assume the VA mortgage?
Homes purchased with the VA loan must meet the VA's minimum property requirements, which include rules and regulations for a safe roof.
One of the most common questions we receive about the VA appraisal pertains to the expiration date and appraisal reuse.
If you're new to the VA loan process, you'll learn you must pay both the initial appraisal and any required home inspection.
There are several upfront and ongoing expenses that homebuyers should be aware of when determining the cost of homeownership.
The law now permits a waiver based on a pre-discharge review of existing medical evidence that results in issuance of a memorandum rating by VA.
Part of the cost of a VA guaranteed home loan is the payment of a VA loan funding fee. Some borrowers are exempt from the funding fee and some get it refunded.
Do VA Loan rules require a borrower to have an honorable discharge in order to qualify for the program? In this post we look at the honorable discharge myth.
VA loans are generally for only the veteran, veteran and spouse together or the surviving spouse of a veteran under certain circumstances.
One of the common topics about VA loan eligibility is related to what happens to a VA loan or the ability to apply for one after divorce.
VA loan entitlement comes in two forms (basic VA loan entitlement, and bonus entitlement). Bonus entitlement can be used with any remaining VA loan basic entitlement or on its own.
VA loan rules have no prohibition against a borrower owning another property purchased with a non-VA loan while trying to apply for a new-purchase VA mortgage or refinance loan.
For married couples looking for a VA home loan, when both are in the military, there are a variety of options when it comes to using VA insured loan benefits.
From a lender’s perspective, Basic Allowance for Housing is a stable and reliable income source. You can typically count BAH as income on your application.
To apply for a VA loan, first look for a lender that specializes in this benefit program.
It's possible to get a VA loan with bad credit. There is technically no minimum credit score requirement, but it may take a little extra work to qualify.
Just like a VA purchase loan, VA refinances like IRRRL and Cash-Out have specific occupancy requirements.
If you want lower monthly payments and a lower interest rate on an existing VA home loan, the VA Interest Rate Reduction Refinancing Loan is just for you.
There are a variety of refinance options available under the VA loan program, but only with one the "no credit check" and "no appraisal" option is the VA Interest Rate Reduction Refinance Loan.
