VA

Are you a Veteran or Active Duty looking to buy a home? Thanks to the Blue Water Act, VA will now increase their loan guaranty in high-cost areas. This will expand the available homes for Veterans seeking a no downpayment option. Contact me for all the details!

Related Article Title: VA Circular 26-19-23, Blue Water Navy Vietnam Veterans Act of 2019, Effective for loans closed on or after January 20, 2020 Written by: Tracey Rumsey, Staff Writer The Blue Water Act is a game changer for VA downpayments in high-cost areas. But there are details you need to know! Read this article [...]

2019-09-10T09:58:55-05:00September 10th, 2019|Social Media Posts, VA|

VA – New Refinance Rules for Buyout During Divorce

Question: Do the new VA rules for Net Tangible Benefits on a cash-out for a primary residence still apply in a divorce situation, where the veteran is buying out the ex-wife? Answer: Yes. The Net Tangible Benefit rule applies even in an equity buyout situation. VA does not offer any exceptions to the new rules. [...]

2019-08-22T09:13:10-05:00August 26th, 2019|

If you received non-taxable income, that income can be “grossed up” to help you qualify for more. The reason is that lenders use your gross income when considering your debt-to-income percentage.

Related Article Title: VA – Grossing Up Disability Income Question: Can VA Disability Income be grossed up, and if so, how much? Answer: The IRS website indicates that VA Disability is exempt from federal income tax. The guideline below from the Lenders Handbook explains that while non-taxable income can be grossed up, it can only be [...]

2019-08-25T10:29:36-05:00August 26th, 2019|Social Media Posts, VA|

Did you know that VA does not have “flipping rules” and will allow an immediate resale of a property? For more info on this program, contact me.

Related Article Title: VA – Flipping Rules Question: What are the flipping rules for a VA loan? Answer: VA is definitely a different animal when compared to the other agencies, so confusion is certainly understandable! VA has no flipping policy (like FHA does) and would allow the immediate resale. However, you can expect close value [...]

2019-08-25T10:32:34-05:00August 26th, 2019|Social Media Posts, VA|