ARCHIVED BLOG POSTS
2013
A reader asks, "I am in the process of getting a VA loan (July 2013). I will be retiring the end of Sep 2013 and have started the VA disability process (paperwork submitted, waiting on physical). Even though my disability rating will come after I close on my loan, am I still able to have the fund...
07/18/2013
A reader asks, "My fiance is in the process of getting us our first home. The first lender decided to drop us due to my fiance's "odd job” and time there. My fiance has 8 years in the Army, got out in 2012, became a truck driver...we now have a new lender who wants to approve and sign off on the...
07/17/2013
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One commonly asked question about VA mortgages involves the loan amount--specifically what happens to any "left over money" if the VA loan comes in at an amount higher than the sale price. One reader asks, "...If I don’t use all of the VA loan money for the purchase, can I use some over the purch...
07/16/2013
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When budgeting for your VA loan expenses, there are several things to anticipate--the appraisal fee, any compliance inspection fees that may be required, the VA loan funding fee, and the lender's flat charge. The lender's fee is often misunderstood--knowing it better can help you set aside enough...
07/15/2013
A reader asks, "We are selling a property which has two homes on it but one is not livable. The story is our parents were living in a very old home but when they got older, the upkeep was too much. So, they bought a manufactured home and put that on the property. The house effectively became a st...
07/14/2013
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When you want to purchase a home with a VA mortgage, one of the things you'll need to do is to negotiate the interest rate on the loan with the lender. In some cases the most advantageous interest rate might not be available due to a variety of factors--a borrower's credit scores, the lender's in...
07/12/2013
The House Committee on Veterans Affairs official website has a page dedicated to The Honoring America’s Veterans and Caring for Camp Lejeune Families Act of 2012, also known as H.R. 1627. This act changed important aspects of the VA home loans program and those changes directly affects many VA lo...
07/10/2013
There are many reasons to consider refinancing into a VA mortgage loan. Those who have adjustable rate mortgages and want to get into a stable interest rate after the introductory or "teaser" period ends should definitely consider the option, as should anyone who wants a lower monthly mortgage ra...
07/10/2013
A reader asks, "I’m a veteran and I have never used my VA Loan benefits. I’ve been in my home for 7 years under the FHA program and would like to inquire how I can refi with the VA?" This raises an important questions for veterans who are in FHA home loans and want to refinance into a VA mortgage...
07/09/2013
One very important VA benefit for certain qualifying veterans is the exemption from having to pay the VA loan funding fee when purchasing a home with a VA mortgage. Veterans who receive or are eligible to receive VA compensation for service-connected injuries or disabilities are exempt from payin...
07/09/2013
Rainmaker
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Bruce Reichstein
FHA / VA One-Time Close Loans - Nationwide