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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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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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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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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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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