RECENT BLOG POSTS
In recent weeks we've fielded several questions from readers about VA loan refinancing with the VA Interest Rate Reduction Refinancing Loan, also known as a VA Streamline Refinance or IRRRL. There are many situations where a borrower might need to apply for a VA IRRRL and initiate a change from t...
08/26/2013
A reader asks, "My wife has moved out, but will not agree to remove her name off deed. What need to know is what can I do in refinancing the VA loan since her name is not signed for the loan, in which the payment statements only come in my name? I do not want to walk away from my loan agreement, ...
08/25/2013
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 requirement. What do VA loan rules actually say about the law on occupancy and what does a future...
08/22/2013
In our last blog post we examined the acceptable purposes for a VA loan as described in VA Pamphlet 26-7, the VA Lender's Handbook. The VA has a detailed list of acceptable purposes for a VA loan. But in the same way that the VA has described what it allows a VA loan to be used for, it also has a...
08/21/2013
For those who have never used a VA loan before, there can be some misunderstanding about the VA loan program in general. Some of our most commonly asked questions involve what kinds of loans the VA is willing to guarantee. Some want to know if the VA will insure a personal loan, a cash-out or hom...
08/21/2013
A reader asks, "I feel like the home I’ve purchased with my VA loan is too big for us right now and I’d like to consider getting into something more our size. I don't want to sell it because when we start having kids it will be perfect. I’ve lived in the house for over a year and under one year a...
08/21/2013
A VA streamline refinance (also known as a VA IRRRL) allows borrowers with existing VA mortgages to refinance into a lower monthly payment or a lower interest rate (or both) without a VA-required credit check or VA-required appraisal in most typical cases (the lender may require one or both depe...
08/20/2013
Before a VA borrower can make an offer on a house for sale, there's an important step in the process of getting a VA loan that must be accomplished. That step is establishing the borrower's eligibility for the VA mortgage and getting the lender a copy of the borrower's VA Certificate of Eligibili...
08/19/2013
When two or more veterans apply for a VA loan together, both or all of the applicants using their VA loan entitlements, the transaction is known as a VA joint loan. There are many reasons why more than one veteran might want to team up on a VA mortgage, but there are some issues to be aware of wh...
08/15/2013
VA loans between two or more veterans are called "joint loans". Specifically, the VA Lender's Handbook describes joint loans in Chapter Seven as, "A loan involving two veterans who are not married to each other, and both using their entitlement." A VA joint loan can also mean, "any other type of ...
08/15/2013