ARCHIVED BLOG POSTS
2011
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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? Even though the area has not flooded in hundreds of years?” This question is fairly general and ther...
10/31/2011
VA loan questions come from all different perspectives–this one comes from a very unique angle: “We are looking at leasing a VA home from a friend of ours who is in the military. (The owner) has a VA loan on the property. According to information on your website a person can not lease or rent a V...
10/28/2011
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VA loans have a variety of requirements–some of which the borrower may not understand fully until they have the rules explained properly. Sometimes there is confusion over what the rules mean, other times the confusion comes because VA loan guidelines often establish minimum requirements that a l...
10/27/2011
VA loan funding fees have been a source of confusion for some borrowers since the Department of Veterans Affairs updated VA loan funding fee information earlier in 2011. There were some initial changes announced by a VA Circular, and later alterations to the structure of the VA loan funding fees ...
10/27/2011
Earlier I reported on a Department of Veterans Affairs announcement which updated VA loan funding fee rates. The changes came as a result of the passage of the Veterans Health Facilities Act Capital Improvement Act of 2011. There was some confusion over VA loan funding fees as a result of the cha...
10/26/2011
In our last post, we discussed a possible scam related to VA Interest Rate Reduction Refinancing Loans or IRRRLs. The best way to spot a scam related to these refinancing loans is to know the details of the loan program. Whether you’re currently thinking about an IRRRL or plan to explore your VA ...
10/25/2011
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We get plenty of reader comments and questions, but lately we’ve noticed a trend in the comments about a possible scam targeting people with VA mortgages. There’s been an increase in questions asking about third-parties who contact home owners about their mortgages. One example; “I received a let...
10/25/2011
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A reader got in touch with us about a question on VA appraisals. Who pays for the appraisal and when? Does the borrower have to pay the appraisal fee if the VA loan does not close? VA appraisals are required as a part of the VA mortgage loan process. Under the rules, the borrower is responsible f...
10/24/2011
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VA borrowers who get familiar with VA loan rules and requirements are sometimes confused when they approach a lender. There are situations where the bank can’t or doesn’t offer certain VA loans, rates, terms or other features permitted by the VA loan rules. For example; on the VA official site, b...
10/21/2011
Due to confusion over VA loan funding fee changes scheduled to take effect on 1 October, 2011, some VA borrowers may have been incorrectly charged VA loan funding fee amounts. In some cases the VA loan funding fee charged was too high, and in other cases the fee may have been too low. In cases wh...
10/20/2011
Rainmaker
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Bruce Reichstein
FHA / VA One-Time Close Loans - Nationwide