Category: VA

Electronic Signatures for the VA Request of Determination of Eligibility

Question: Is it acceptable for the VA Request of Determination of Eligibility to be electronically signed rather than ink signed? Answer: VA Circular 26-13-13 clarifies that electronic signatures that comply with the E-sign Act are acceptable to VA. Reference: VA Circular 26-13-13 [Article Published in Question & Answer Issue – March 25, 2021] Copyright © […]

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Transferring a VA Appraisal to Another Veteran

Question: I have a client that was in backup position on buying a house. The previous deal fell through due to financing, but a VA appraisal was done. As a VA buyer, does my client need to (or can they) use that appraisal? Answer: The original appraisal always stays with the original Veteran (A) even […]

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Adding Back Mileage Deductions for Self Employed Veteran

Question: My client is a share ride driver with a deduction for a large amount of mileage under vehicle expense.  Can this be added back in for income? Mortgage Income Analyzer – Mileage Deductions & Depreciation Add Backs Answer: If it clearly shows as Mileage on the tax return, then you can add the IRS-declared […]

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Date Used for the Seasoning Requirement for an IRRRL

Question: What date starts the timing for the 210 Day seasoning requirement on an IRRRL? Answer: The note date of the new IRRRL refinance loan must be on, or after, the later of: ● The date on which the borrower has made at least six monthly payments on the loan being refinanced; and ● The […]

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Attention Veterans!  If you are leaving active service and plan on buying a home, it is important to talk to your home financing lender first!  There are benefits that you want to have verified prior to buying a home that can help you qualify for the home you want, so let’s talk!

Attention Veterans!  If you are leaving active service and plan on buying a home, it is important to talk to your home financing lender first!  There are benefits that you want to have verified prior to buying a home that can help you qualify for the home you want, so let’s talk!

Related Article Title: VA, Certificate of Eligibility (COE) Enhancements to Streamline Income Verification – Circular 26-21-03 – Effective March 19, 2021. Written by: Tracey Rumsey, Staff Writer VA is making procedural changes to the certificate of eligibility and verification of benefits.  These are important changes, so if you work with Veteran clients you need to […]

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