A reader recently asked, “Any word on when the VA Vendee Loan program will return?” When homes purchased with a VA guaranteed mortgage loans go into foreclosure, the Department of Veterans Affairs ends up owning these properties and later putting them up for sale to offset the costs of the loan d...

07/06/2012

VA Loans For Multi-Unit Properties and Rental Income

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Those who apply for a VA home loan must certify they will use their new home as the primary residence. This is a requirement for VA loan approval and prevents the borrower from purchasing a home and then renting it out instead of living there. But those who purchase multi-unit properties are allo...

07/04/2012

VA Loan Costs

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When a borrower applies for a VA loan for the first time, it’s not uncommon to proceed without thinking about the overall cost of the VA mortgage above and beyond the sale price of the home. One of the most important aspects of preparing for any home loan is anticipating the long term AND out-of-...

07/03/2012

VA Loan Advantages

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The Department of Veterans Affairs recently updated its official site to include an on-line version of its publication, “VA Home Loans – A Quick Guide For Homebuyers and Real Estate Professionals“. This guide outlines some of the most important features of VA guaranteed home loans; these features...

07/02/2012

VA Loan Advice: Natural Disasters

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The Department of Veterans Affairs recently posted a two-page .PDF document on its official site called VA Guidance On Natural Disasters, aimed at helping those with VA home loans know what to do in the event of a disaster. Recent storms, flooding, and wildfire activity have dominated headlines a...

07/02/2012

VA Loan Eligiblity: Other Than Honorable Military Discharges

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A reader asks, “I have an Other Than Honorable discharge. Can I still get a VA loan?” The Department of Veterans Affairs has a page outlining VA eligibility rules at the VA official site, called General Rules For Eligibility. Navigating these rules can be a bit tricky as VA loan eligibility is di...

07/01/2012

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