Tag: Water test

VA – Well Testing: Does VA require a well test on a cash-out refinance where the present loan is VA and the new loan is VA?

Answer: Yes. Each time a property is going to have a new VA loan placed on it (with the exception of an IRRRL) a water test must be performed to ensure that the property meets VA requirements. VA does not provide an exception for cash out refinances when there is an existing VA loan on […]

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FHA – Water Test Requirements: Does FHA require a water test? I keep getting different feedback depending on the investor. [Mortgage Talking Point™ – Water Test Standards]

Answer: This is a tough one for me because I, too, heard about the back and forth between lenders after the 4000.1 was released and the pushback FHA received on this topic.  And I know that most investors won’t require a water test. If you call FHA (which I have several times), they’ll just put […]

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FHA – Water Testing: Do all FHA loans require water testing?

Answer – Water Test: Per the guideline below, my opinion is that either a letter/test from the local health authority with jurisdiction as to the acceptability of the water, or a test and a letter from the testing entity proving that the water meets the EPA standards, would be required in order to satisfy the […]

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