VA Clarifies Rules On “Unallowable Fees”
The Department of Veterans Affairs has issued a Mortgagee Letter clarifying its position on itemized fees, the lender’s flat fee and unallowable fees for VA mortgage loans. According to VA Circular...
View ArticleVA Loan Rules: Who Can Use the VA Loan Benefit?
A reader asks, “I was honorably discharged from the Navy after serving for 4 years. I was wondering if my mom can use my VA home loan to buy build a new house on her land?” The short answer is no....
View ArticleAre VA Loan Benefits Transferrable? A Reader Question
A reader asks, “Can I transfer my VA home loan to my sister or let my sister to use my VA home loan if i permit the VA to let my benefit to go with my sister because I’ve served in armed forces for 4...
View ArticleVA Loans: Property Tax and Insurance Requirements
When buying a home with a VA insured loan, borrowers learn that the Department of Veterans Affairs has a set of requirements which include "sufficient hazard insurance" and payment of all property...
View ArticleVA Loan Reader Questions: Who Pays For Termite Inspections?
A reader asks, “Where can I find information regarding who pays for a termite inspection and a termite letter for the state of Georgia? Does the buyer or the seller pay for the termite inspection?...
View ArticleCan I Purchase a Boat or RV With My VA Loan Benefits?
One common question about VA home loans involves the purchase of properties other than suburban homes. VA loan benefits allow buyers to purchase a condo, mixed-use property, multi-family units,...
View ArticleWhat Does the VA Say About Loans for Mobile Homes?
A number of questions have come in recently about VA guaranteed loans for manufactured homes or mobile homes. Some people mistakenly believe mobile homes are not eligible for VA mortgages, but that is...
View ArticleCan a Borrower Rent Out a Home Purchased with a VA Loan?
There are many reasons why a borrower who owns a home purchased with a VA insured mortgage would consider renting out his or her property. Active duty military members who are being reassigned to a new...
View ArticleVA Loans and Flood Zones
A reader question came to us asking about the rules for VA loans about flood zones. "Is it true that it is not possible to get a VA loan if the appraiser indicates the property is in a flood zone?...
View ArticleVA Loans For Purchases In Other Countries
There are many scenarios potential VA borrowers bring with them to the bargaining table. Some VA borrowers are looking for typical suburban homes, others are looking for VA condo loans, and still...
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