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VA Articles from Q & A Issues: - October 25, 2009
VA Eligibility Quirky Eligibility Rule: I currently have a veteran buyer who has a home that she bought with her spouse using her VA. They own the home free and clear. They have been living apart for some time (no legal paperwork). She would like to purchase a new primary residence for herself using her VA eligibility. Is there a rule on VA eligibility reinstatement - even though it is free and clear? - September 25, 2009
VA Calculating Rental Income: When calculating rental income or loss on a VA loan, can you average the last 2 years or is the income only calculated off of the most recent tax year? - August 25, 2009
VA Flipping Guidelines: Does VA have a "Flipping" guideline? Seller purchased home for $57,000 1 month ago, and is now selling the property for $108,000. - August 25, 2009
VA Condo Financing Guidelines: What are the requirements for VA Condo financing? (Includes VA Handbook – Condo Project Requirements – Chapter 16) - August 25, 2009
VA Self-Employment Income: Veteran borrower is self-employed and has been for the last 1.5 years. The Veteran is in the same field as his military training. Good credit score, ratios and he will also have 5 months of reserves available after closing. Will I get this through underwriting? - July 25, 2009
VA Funding Fee Chart: My veteran first time homebuyer has served in the National Guard for 10 years but he was deployed to Iraq last year for 6 months. What funding fee do I use? - June 25, 2009
VA Eligibility: My veteran borrower purchased his first home with VA financing 20 years ago. He refinanced the property to a conventional loan 5 years after purchasing, retained the property as a rental and purchased another primary residence with his VA eligibility. He has now sold his primary residence and wants to purchase another primary residence with VA financing. VA will not restore his eligibility. Why not? - June 25, 2009
VA Condos: What are the "condo approval" requirements for VA loans? (Includes - VA Common Interest Communities, Condos & PUDs Pamphlet Included) - May 25, 2009
VA Cash Out Refi: My client lives with his father and was recently added to the property title. He is VA eligible. Can he do a cash-out refinance on this property? - May 25, 2009
VA IRRL Appraisals: Is it true that I now have to get an appraisal on VA Interest Rate Reduction Loans (IRRL)? - April 25, 2009
VA Housing Allowance: Does VA allow an active duty veteran to use his military housing allowance as income to buy a home? - March 25, 2009
VA Short Sale: If a veteran does a short sale on his current VA loan, can he get another VA loan without paying the loss to the federal government? - February 25, 2009
VA Eligibility: If a veteran only has $8,500 of eligibility left, what is the maximum loan that VA would insure with zero down? - February 25, 2009
VA Purchase Home Active Duty: Are Veterans allowed to purchase homes while at a duty station away from the primary residence they wish to buy? - January 25, 2009
VA Refi-Combined Loan-To-Value: Do I have to consider CLTV on either a VA Interest Rate Reduction Refinance Loan or on a VA cash-out refinance? - January 25, 2009
VA Refi Conventional to VA: Can a Veteran who has never used his eligibility refinance a conventional loan into a VA loan? - January 25, 2009
VA Repair Escrows: Is there any VA program that would allow for repair allowance either contributed from the seller or added into the loan? - December 25, 2008
VA 100% Refinance: Is it true you can do 100% VA cash out refinances? - December 25, 2008
VA Refinance Subordination: Can we refinance a first mortgage into a VA loan and keep the existing equity line? Assuming 5% closing costs/funding fee 1st LTV would be about $424,000 (81 LTV). Total CLTV would be about 88 CLTV. - December 25, 2008
VA Refinance: If a veteran buys a home on lease/purchase option, what are the VA rules? - November 25, 2008
VA Renting Current Home, Buying VA: What are the rules to use rental income from a home that will be rented when buying another home via VA? - November 25, 2008
VA Maximum Loan Limits: Did VA increase their loan limits? What is the maximum VA loan? - October 25, 2008
VA Training Manuals: Where could I find online or booklet training for VA loans? - October 25, 2008
VA Case Number Assignments: Can a veteran request and move their VA case number and appraisal without consent from the bank? - September 25, 2008
VA Jumbo Loans: Thank you for writing the article on Super Max VA Loans (from the February 2008 Q&A about VA Jumbos). The template for calculating the maximum loan was excellent. My question - is it possible to use this factoring to Debt Consolidate? (Guarantee VA Formula Included) - September 25, 2008
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