Tag: VA

VA Covid19 Guidance – Important Update for Underwriting and Appraisals

VA Issued Circulars 26-20-10 and 26-20-11 regarding guideline flexbilities during Covid19. Circulars are linked below and can also be found under our Agency & Bulletins Page in the Category of VA. Our VA Expert has reviewed the Circulars and is issuing a bullet point summary for each of them below. Circular 26-20-10 VA Lender Guidance […]

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IRRRL for a Wife of a Deceased Veteran

Question: If a Veteran passes away, can their wife who is on the original loan do a VA IRRRL? Answer: She would only be eligible in the following circumstances: The law designates that the veteran who died must have been eligible for compensation at the time of passing and be rated one of the following: […]

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Veterans! Did you finance your present home using your VA Benefits? If so, did you know that you can use those same benefits to buy another home, when you sell your current home?  If you’re considering a move, let’s make a VA home financing plan before you start looking for property!

Related Article Title: VA Eligibility Transfer on Concurrent Closing Question: My Client currently has a VA loan and he is selling his current property and buying another one. Can he buy his next property using the 100% financing option too?  If so, how does that work? Answer: Yes.  A veteran can sell a VA financed […]

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Will VA allow the LTV to exceed 90% when paying off a construction loan?

Question: Our client has a temporary construction loan.  Will VA and Ginnie Mae allow the LTV to exceed 90% when the loan being paid off is a construction loan?  Further, will they allow the payoff of a purely temporary construction loan to be considered a purchase transaction? Answer: Yes, both VA and Ginnie Mae state […]

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VA Eligibility Transfer on Concurrent Closing

Question: My Client currently has a VA loan and he is selling his current property and buying another one. Can he buy his next property using the 100% financing option too?  If so, how does that work? Answer: Yes.  A veteran can sell a VA financed property and purchase another property concurrently with 0% down […]

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