VA

VA does not allow a Veteran to pay certain fees when getting a home loan. Yet in states where some fees are mandatory, VA does allow for deviations to their rules.

Related Article Title: Termite Inspections in Texas or Other States Question: On a VA loan for a property in Texas, is the Veteran allowed to pay for the termite inspection that is required? Allowable State Fees and Charges – VA Answer: VA maintains a ‘special fee deviation’ for each state. In this list you’ll see [...]

2019-09-24T15:56:53-05:00September 25th, 2019|Social Media Posts, VA|

Are you a Veteran or Active Duty looking to buy a home? Thanks to the Blue Water Act, VA will now increase their loan guaranty in high-cost areas. This will expand the available homes for Veterans seeking a no downpayment option. Contact me for all the details!

Related Article Title: VA Circular 26-19-23, Blue Water Navy Vietnam Veterans Act of 2019, Effective for loans closed on or after January 20, 2020 Written by: Tracey Rumsey, Staff Writer The Blue Water Act is a game changer for VA downpayments in high-cost areas. But there are details you need to know! Read this article [...]

2019-09-10T09:58:55-05:00September 10th, 2019|Social Media Posts, VA|

VA Circular 26-19-23, Blue Water Navy Vietnam Veterans Act of 2019, Effective for loans closed on or after January 20, 2020

Written by: Tracey Rumsey, Staff Writer The Blue Water Act is a game changer for VA downpayments in high-cost areas. But there are details you need to know! Read this article to find out more. Rule Synopsis: Effective with loans closed on or after January 1, 2020: For loans in excess of $144,000, the Freddie [...]

2019-09-09T15:57:09-05:00September 10th, 2019|

VA – New Refinance Rules for Buyout During Divorce

Question: Do the new VA rules for Net Tangible Benefits on a cash-out for a primary residence still apply in a divorce situation, where the veteran is buying out the ex-wife? Answer: Yes. The Net Tangible Benefit rule applies even in an equity buyout situation. VA does not offer any exceptions to the new rules. [...]

2019-08-22T09:13:10-05:00August 26th, 2019|

If you received non-taxable income, that income can be “grossed up” to help you qualify for more. The reason is that lenders use your gross income when considering your debt-to-income percentage.

Related Article Title: VA – Grossing Up Disability Income Question: Can VA Disability Income be grossed up, and if so, how much? Answer: The IRS website indicates that VA Disability is exempt from federal income tax. The guideline below from the Lenders Handbook explains that while non-taxable income can be grossed up, it can only be [...]

2019-08-25T10:29:36-05:00August 26th, 2019|Social Media Posts, VA|