Tag: Partial Eligibility

VA – Two Unmarried Veterans Using Partial Eligibility

Question: Does a file with two unmarried veterans who are using partial eligibility still need to have prior approval from VA? Answer: Chapter 7 of the VA Handbook was revised in March of 2019.  The guideline below is still in effect as the Blue Water Act Circulars did not alter the requirement as stated below. […]

A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.

VA Guaranteeing Two Different Down Payment Calculations Under New Rules!

Written by: Tracey Rumsey, Staff Writer Mortgage Currentcy has uncovered a variation in VA down payment calculations when using partial eligibility.  There is a BIG difference in the down payment required, so read through this to find out more. Rule Synopsis: The Blue Water Act was applauded for assisting Veteran clients in higher cost areas, […]

A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.

VA – Second Home: Does VA allow for financing on a second or vacation home? [Maximum Loan Calculator – Including Partial Eligibility and Sales Price Exceeding County Limits – VA]

Answer: While VA will allow a veteran to obtain a second VA loan using their remaining entitlement, that second loan must be for a new primary residence.  They cannot use the new loan to obtain a second home or an investment property. Social Media Posts: While VA will allow a Veteran to utilize their remaining […]

A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.

Scroll to Top