Tag: VA

Did you know that you can get a VA refinance loan to consolidate a 1st and 2nd lien on your property? This can be a real budget booster to reduce two payments into one. So if this sounds like something you are curious about, let’s talk!

Related Article Title: VA – Maximum LTV for a Rate/Term Refinance When Paying off 2 Liens Question: What is the maximum LTV when a VA borrower wishes to pay off their first and second lien? VA Refinance Comparison Chart Answer: The transaction you’ve described is actually a VA Cash Out Refinance Type II. The maximum loan […]

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Is it possible to lease out the home you are presently living in to buy a new home and have that lease payment offset your old mortgage payment? Yes it is, but you have to be careful about which loan program your lender uses for your new home. If this sounds like a great solution for you, let’s talk! I’m happy to answer any questions you have.

Related Article Title: VA- Lease Requirements on a Departing Residence to Offset House Payment Question: My client wants to buy a new home but has not sold their present home. Will VA allow a one-year lease on their departing residence to offset the payment on their present home in order to qualify for the new […]

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Did you know that VA waives their funding fee for Veterans who have a qualified disability? That’s a big cost savings so let’s be sure to talk before you apply for a home loan to make sure you receive all the benefits you are entitled to!

Related Article Title: VA – Waiving the Funding Fee on a Disabled Veteran Question: My clients are both Veterans and one is a disabled Veteran. Will VA allow me to exempt the funding fee when only one is disabled? Answer: You can use either veteran’s eligibility for the loan. Simply list the disabled spouse as […]

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If you are refinancing a home or purchasing a home that has a Solar Panel Obligation, let’s chat first! There are some things you need to know before you sign that contract to prevent any issues. Or, comment below and I’ll send you “What Every Homeowner Needs to Know About Solar Panel Obligations”.

Related Article Title: VA Solar Panel Requirements for Qualifying Question: What amount do you use to cover a solar panel lease agreement when the energy generated is a net credit to the homeowner? Our underwriter is stating that the borrower must qualify for the payment on the lease even though the lease payment is satisfied […]

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VA – Charging Points on a Streamline IRRRL

Question: Can you charge points without requiring a new appraisal on a VA Streamline IRRRL? VA Refinance Comparison – Chart Answer: The newest guidelines regarding points on IRRRLs were published in Circular 26-19-22. While VA has no prohibition on charging reasonable points, they do have rules regarding adding those points into the loan amount. See […]

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