ARCHIVED BLOG POSTS
2013
It's easy to assume that self-employed borrowers might have a much harder time getting a home loan than those who have traditional jobs, but when it comes to VA mortgage loan applications, is that really true? While there may be some additional procedures to follow when a lender is reviewing a se...
05/20/2013
A reader asks, "We bought our first home 5 years ago and didn’t use all of our entitlement. We had to move so obviously we don’t maintain that as permanent residence, and we have renters in it currently. Can we take out a second loan to use up what’s left of our entitlement if we have our other h...
05/19/2013
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Comments
We get plenty of questions and requests about VA loans in our comments section. One recent request came from a reader who writes, "I would like to borrow $10,000 dollar please. My phone number is (removed) and I am a veteran." This reader's comment provides a great opportunity to talk about the s...
05/15/2013
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Comments
VA Interest Rate Reduction Refinance Loans or VA IRRRLs can be an excellent way for a VA borrower to get an existing VA mortgage into a lower interest rate, lower payments, or both at the same time depending on the circumstances. The Department of Veterans Affairs reminds veterans that VA IRRRLs ...
05/14/2013
A reader asks, "Can I still be approved for a VA loan if my discharge was OTH?" "OTH" stands for Other Than Honorable, which is a type of military discharge that, as the name implies, is not categorized as "Honorable" but is not as severe as a "Dishonorable" discharge categorization. For the purp...
05/13/2013
A reader asks, "We owe 255k on our home and it looks as if our home will be appraised for around that if not lower and make it difficult for us to straight out sell it and force us to take the short sale (compromise sale route)." "Could you give me more information on the process for a VA short s...
05/12/2013
We often field questions about VA home loans via our Facebook page. One reader recently wrote us there, asking the following question: "How do you appeal a bad VA appraisal? Especially if there is an error in your tax assessment e.g., making our home 900 square feet smaller than its actual size p...
05/09/2013
A reader asks, "I am the disabled veteran and my husband is a also a veteran but not disabled. My husband has the excellent credit history and salary requirements that will get us the low interest rate. however I am able to exempt us from the funding fee because of my disabilities." "Is there a w...
05/08/2013
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Comments
A reader question that comes in occasionally has to do with the nature of the VA home loan program. Some borrowers want to know if there is a VA personal loan program--small loans made available to borrowers without having to apply for a home loan or a refinance loan. The short answer is no. Ther...
05/08/2013
A reader asks, "I served 2 years ending in 1968. Can I still get a VA loan? Thank you." The answer to this question in the simplest terms is that any veteran who served between 8/5/1964 and 5/7/1975 are required to have 90 total days of active duty military service in order to qualify for the VA ...
05/07/2013
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Bruce Reichstein
FHA / VA One-Time Close Loans - Nationwide
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