Bruce Reichstein's (brucereichstein) Blog

A reader asks, "My husband was retired USN. He passed away in 2001. I have not remarried. May I file for VA Loan on his service record?  I have all the necessary paperwork. DD 214- Marriage Cert- Death certif. etc." The Department of Veterans Affairs official site has this to say about VA loan el...

A reader recently left a comment for us that includes the following statement; "Factually, the VA only requires you to live in a home for one year after purchase.  So the "primary residence" argument is bogus." The Department of Veterans Affairs lists its rules for occupancy in VA Pamphlet 26-7, ...

A reader asks, "My husband and I are in the process of purchasing a home. All is going well, except the VA has refused to allow us to get the VA Funding Fee, which amounts to a little over $5,000.00. In the Certificate of Eligibility the Funding Fee was named Non Exempt." "My husband was discharg...

In a recent blog post, we addressed some of the VA loan rules for termite inspections. But did you know that there may be different requirements in this area, depending on the type of property you buy with a VA guaranteed home loan? VA termite requirements for homes purchased with VA loans may va...

A reader asks, "We are currently refinancing our home – and we are using the VA process. They are requesting us to get a termite (WDO) inspection. My question is does the VA require the termite inspection? We live in Southern California." According to the Phoenix VA Regional Loan Center, "In orde...

Borrowers who need to refinance a home loan that is delinquent may explore their VA Streamline Refinance Loan options. One common question in this area is, "Can I refinance a delinquent existing VA mortgage with a VA Interest Rate Reduction Refinance Loan?" According to the VA Lender's Handbook, ...

A reader asks, "I am in the process of getting a VA loan (July 2013). I will be retiring the end of Sep 2013 and have started the VA disability process (paperwork submitted, waiting on physical). Even though my disability rating will come after I close on my loan, am I still able to have the fund...

A reader asks, "My fiance is in the process of getting us our first home. The first lender decided to drop us due to my fiance's "odd job” and time there. My fiance has 8 years in the Army,  got out in 2012, became a truck driver...we now have a new lender who wants to approve and sign off on the...

One commonly asked question about VA mortgages involves the loan amount--specifically what happens to any "left over money" if the VA loan comes in at an amount higher than the sale price. One reader asks, "...If I don’t use all of the VA loan money for the purchase, can I use some over the purch...

When budgeting for your VA loan expenses, there are several things to anticipate--the appraisal fee, any compliance inspection fees that may be required, the VA loan funding fee, and the lender's flat charge. The lender's fee is often misunderstood--knowing it better can help you set aside enough...