Related Article Title: VA Circular 26-19-30, Updated Guidance for Blue Water Navy Vietnam Veterans Act of 2019 – NEW MTP™ How the Blue Water Act Changed VA Home Financing Written by: Tracey Rumsey, Staff Writer Big changes are coming to VA financing programs effective January 1, 2020, so read through this update to be sure […]
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Written by: Tracey Rumsey, Staff Writer Big changes are coming to VA financing programs effective January 1, 2020, so read through this update to be sure your loans are covered during the transition period. Rule Synopsis: Effective with loans closed on or after January 1, 2020: For loans above $144,000 made to purchase, refinance (cash-out […]
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Written by: Tracey Rumsey, Staff Writer The VA appraisal process continues to become more refined and this update addresses more changes in their appraisal process. Rule Synopsis: For appraisals prepared on or after January 1, 2020, the VA fee panel appraiser may utilize the Assisted Appraisal Processing Program (AAPP). The appraisal report may be completed […]
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Related Article Title: VA – Maximum LTV for a Rate/Term Refinance When Paying off 2 Liens Question: What is the maximum LTV when a VA borrower wishes to pay off their first and second lien? VA Refinance Comparison Chart Answer: The transaction you’ve described is actually a VA Cash Out Refinance Type II. The maximum loan […]
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Related Article Title: VA- Lease Requirements on a Departing Residence to Offset House Payment Question: My client wants to buy a new home but has not sold their present home. Will VA allow a one-year lease on their departing residence to offset the payment on their present home in order to qualify for the new […]
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