ARCHIVED BLOG POSTS
2012
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A reader left a comment about VA home loan limits recently, which included a question about VA maximum loans. “I would like to buy a house in San Bernardino County CA, but the VA loan limit for that county is $450,000. The houses that I’m looking for and can afford are in the range of $600,000 to...
02/09/2012
The VA appraisal is a major part of the loan approval process. When a buyer chooses a property he or she wants to purchase with a VA-guaranteed mortgage loan, a VA appraiser must review the home to make sure it meets the VA minimum property requirements. We get frequent questions about these requ...
02/08/2012
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There are two basic types of VA refinancing loans borrowers can choose–one with no cash back to the borrower, and refinancing that does feature cash out. Borrowers are interested in VA cash-out refinancing for a variety of reasons. Some want money back to pay bills, do home repairs, or other purp...
02/08/2012
When applying for a VA Interest Rate Reduction Refinancing Loan, some borrowers are interested in including closing costs into the loan amount. Borrowers should be aware that while any add-ons to the loan that increase the monthly payment by more than 20% will require the loan to become a credit-...
02/07/2012
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A reader recently asked, “Our home is supposed to go into foreclosure due to the fact the mortgage was too high with the 1st and 2nd mortgage and my daughter losing her job, and husband medical history, we had to help out with the grand-kids. Can we buy another home using a VA loan with a lower r...
02/06/2012
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A VA announcement dated January 25, 2012 was recently posted on the VA official site at VA.gov. VA Circular 26-12-1 states, “This circular announces that the 2012 county loan limits have been posted.” No real news there, but the circular goes on to address a question on the minds of VA loan appli...
02/03/2012
A reader asks. “I am a veteran with my DD214 and Certificate of Eligibility and would like to know if I can be on the same mortgage with my spouse and my mother?” When it comes to VA home loans, the spouse may be included in the loan. This requires the spouse to submit to the same qualification p...
02/02/2012
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A reader asked us recently about VA loan rules covering inspections. “I am looking at purchasing a short sale, the property has some structural damage. I have consulted with a structural engineer and am prepared to make the repairs. My question is this: I will be doing a VA loan, will these repai...
02/02/2012
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After reading a previous blog post about VA loan rules on flood zone determination, a reader asks, “Maybe it’s me, but aren’t these sentences contradictory? ‘Borrowers can also be charged for the actual cost of flood zone determination where required. This is usually applicable when it is necessa...
02/01/2012
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VA home loans require a borrower to establish eligibility for the VA loan benefit before the loan application process can begin. A borrower applies for a VA Certificate of Eligibility, and once received either by mail or electronically the borrower and lender can work together on the VA mortgage ...
02/01/2012
Rainmaker
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475,198
Bruce Reichstein
FHA / VA One-Time Close Loans - Nationwide
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