VA Loan Appraisal Fees: Who Pays?
There is often some question about who is required to pay for certain aspects of the VA home loan process. When the buyer finds a home he or she wants to make an offer on, it must be appraised by a...
View ArticleVA Loan Appraisal Questions: High Voltage Power Lines
A reader asks, “Are there restrictions on proximity to power/transmission lines?” This question is asked in relation to the Department of Veterans Affairs minimum property requirements or MPRs that...
View ArticleVA Issues Guidance For Principal Reduction On VA Home Loans
The Department of Veterans Affairs has issued some guidance for lenders about principal reduction for VA mortgages. Borrowers who get into trouble with conventional or FHA home loans often wind up...
View ArticleVA Loan Myths and Facts On Occupancy
We’ve received a great deal of questions lately about VA loan occupancy requirements. There are plenty of myths, rumors and half-truths floating around about the nature of VA loans and the occupancy...
View ArticleVA Minimum Property Requirements Update: Water and Sewage
The Department of Veterans Affairs has a VA minimum property requirements update for water and sewage. In VA Circular 26-13-24, we find an update that includes the following: “Historically, for...
View ArticleVA Loan Reader Questions: VA Appraisal Requirements For Crawlspaces and Attics
A reader asks, “I had a VA appraisal done two weeks ago. The appraiser told me he had been an appraiser for 15 years. He seemed to know what he was doing but when I asked him if he wanted me to climb...
View ArticleVA Loan Applications: Verification of Income
VA loan requirements include verification of income. Borrowers must show stable, reliable income that is likely to continue. The VA generally asks for at least two years worth of documentation showing...
View ArticleVA Appraisals and Defects: A Reader Question About Home Defects
A reader asks, “I recently bought a home that had a VA appraisal done, which I thought was also a inspection done per VA requirements (my misunderstanding). 3 weeks after closing and while doing paint...
View ArticleVA Loan Rules: Spousal Income
One frequently asked question about VA home loans involves whether a spouse's income can be counted on the VA loan application for the purposes of calculating the debt-to-income ratio. It is easy to...
View ArticleVA Loans: Enlistment Verification
Military members applying for VA insured home loans should know about the VA loan rules for service members within a year of their current re-enlistment date. The Department of Veterans Affairs has...
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