Written By: Tracey Rumsey, Staff Writer VA construction requirements and the documentation needed can get a little confusing. Read through this article to find out why we added a new chart to assist you. Interpretive Comments: Do your eyes cross when you try to read the construction section of Chapter 10 in the VA Lender’s [...]
VA Construction can be a little confusing even if you do them all the time. We have access to a great chart to clear up the confusion. Contact me and I’ll step you through it or we can set up a Lunch & Learn for your office.
Related Article Title: VA New Construction Purchase – NEW Chart – VA Construction Documentation Chart Written By: Tracey Rumsey, Staff Writer VA construction requirements and the documentation needed can get a little confusing. Read through this article to find out why we added a new chart to assist you. Interpretive Comments: Do your eyes cross [...]
The Protecting Veterans from Predatory Lending Act of 2018 modified lender practices to protect Veterans. If you would like to know more about how this may affect you, let’s talk.
Related Article Title: VA – IRRRL Net Tangible Benefit: Did the Net Tangible Benefit change this year on an IRRRL? [NEW MTP™ Who Qualifies for an IRRRL?] Answer: Yes, we published this update in our June 10, 2018 rules update which is attached here for your convenience. [View previous article: VA Refinance Loans and the [...]
Attention Home Dreamers! Did You Know that a seller can contribute part of your closing costs to buy a home? Contact me for details and let’s turn that dream into a home!
Related Article Title: Fannie, Freddie, FHA, VA & USDA- HOA Fees: Realtors in our area are talking about a new program that does not count the HOA fees. Does any agency allow that? Answer: Fannie & Freddie say: Fannie and Freddie allow a seller (or an interested party contribution) to pay up to 12 months [...]
VA – Length of Employment – Active Military: Our underwriter is requiring a letter from our active military applicant that they intend to re-enlist for 3 years. Does VA require this?
Answer: VA only asks for confirmation of re-enlistment when an ETS is within 12 months. It would have made more sense if the underwriter asked for an LOE stating that the veteran intended to remain in service for the next 12 months, not 3 years. Not sure why the underwriter is applying the “3-year rule” [...]