How VA Loan Assumptions Are Processed Part 1

Share List Deciphering the VA Lender’s Handbook Chapter 5 Part 5 The ability to assume a VA loan and have someone else assume your VA loan is one of the coolest features of the VA loan program. Coincidentally, or perhaps not so coincidentally, it can also be one of the most complicated, especially for the […]

VA Sends Letters to US Veterans to Revoke 2nd Amendment Rights

Share List Michael Connelly, executive director of the United States Foundation, says that US veterans are now receiving letters from the US Department of Veterans Affairs (VA) regarding the disarmament of those former service men and women under the guise that they are in a questionable physical or mental condition because of their exposure to […]

What Are Non-Allowable and Allowable VA Fees in 2019?

Share List The VA loan is a great opportunity for veterans, offering benefits like low interest rates, no required private mortgage insurance (PMI), and no down payment. Another lesser-known benefit of VA loans is that there are certain fees a veteran is not permitted to pay at closing. This helps keep closing costs reasonable for […]

11 Common VA Loan Myths Debunked

Share List Is a VA loan a good idea? You may have heard things about the VA loan program that seem a little fishy or make you hesitate to get one. Because the VA loan is unique in the mortgage world, it can be easy for rumors and misinformation to spread about how the program […]

Your Comprehensive Guide to Veteran Property Tax Exemptions by State

Share List When you own a home, one of the additional expenses you have to budget for each year are your property taxes. This is often a multi-thousand dollar payment, depending on the tax rate for your county and the assessed value of your home. Your home’s assessed value is determined by a tax assessor […]

9 Questions You Should Ask Before Choosing a VA Lender

Share List Did You Know? While lenders do have to meet certain VA requirements to offer VA loans, they still have plenty of wiggle room in many areas of the loan—like rates, minimum credit scores, and down payment requirements. Whether you’re using your VA loan benefit for the first time or you’ve bought a home […]

Gun Control Statistics: Arguments from Both Sides

Share List In the early 1980s, Chicago enacted gun laws that basically banned handguns. Unfortunately, while the murder rate in Chicago declined, the percentage of Chicago murders that were committed using handguns rose by 2%, to about 40%. More seriously, while the percentage of murders from 1968-2010 using handguns was 48%, the percentage of murders […]

Mortgage Churn: Why Vilifying the VA Streamline Loan Is Not the Answer

Share List Recently there has been a lot of discussion within the mortgage industry about “VA mortgage churn,” a current hot topic that is also called “VA serial refinancing.” In these discussions, I have seen a lot of bias, as well as the spreading of misinformation. Two instances in particular stick out to me: an […]

How VA Responds to Fraudulent Lenders

Share List   VA Lender’s Handbook Chapter 17 Summary Chapter 17 covers all “program participants”, and also covers actions that are not considered fraudulent but are still “detrimental to the VA loan guaranty program”. We’ll be giving you a summary of the information provided in Chapter 17 so you can decide if you want to […]

VA vs. Conventional Loan Down Payments

Share List VA vs. Conventional: Down Payments   Saving up the money for a down payment is one of the largest (if not the largest) obstacle that first-time home buyers face. Once you’ve bought a house and begun to build up equity, a down payment isn’t as much of an obstacle, but is still present, […]

Condos, HOAs, and PUDs, Oh My

Share List VA Lender’s Handbook Chapter 16 Summary Many borrowers are interested in using their VA loan benefits to purchase a home in a condo project, homeowners association, or planned unit development. Chapter 16 of the VA Lender’s Handbook addresses these types of residences and many of the unique expectations that go along with them. While […]

VA Construction Inspections

Share List VA Lender’s Handbook Chapter 14 Summary If you’re lucky enough to find a lender that is willing to finance a VA construction loan, or if you are using a cash-out refinance to make a major addition or improvement to your home, you will come face-to-face with the VA construction inspections, and it will […]

The VA Minimum Property Requirements

Share List VA Lender’s Handbook Chapter 12 Summary The VA’s Minimum Property Requirements (MPRs) are what set the VA’s appraisal apart from the appraisal process on a conventional loan. The VA’s MPRs are fairly similar to the FHA’s Minimum Property Standards, but have a few differences. If you’ve gotten an FHA loan before, you’ll be […]

Understanding the VA Appraisal

Share List VA Lender’s Handbook Chapter 11 Chapter 11 in the VA Lender’s Handbook is about the VA appraisal, which is an important thing for any VA borrower to be familiar with. The Handbook is written with lenders in mind, which means they often use technical terms that borrower may not be familiar with and […]

Team Red, White, and Blue

Share List An Invitation for Physical & Social Activity There are many fantastic and wonderful nonprofits and charities dedicated to serving veterans. Team Red, White, and Blue is a nonprofit organization that works “…to enrich the lives of America’s veterans by connecting them to their community through physical and social activity.” With chapters all over […]

Florida Fraternity Suspended for Harassing Veterans

Share List Rt.com and wreg.com both report on a disturbing incident involving the University Florida chapter of the Zeta Beta Tau fraternity and the Warrior Beach Retreat organization. Three members of the Alpha Zeta chapter have already been expelled by the fraternity, and multiple investigations by the university and the national Zeta Beta Tau fraternity […]

VA Loan Sanctions for Violations of Equal Housing Opportunity Laws

Share List Deciphering the VA Lender’s Handbook Chapter 17 Part 9 Much like when the VA imposes sanctions on a program participant for unfair or unethical marketing practices or contracts, sanctions can also be imposed on any VA loan program participants who do not comply with all of the laws that relate to housing. These […]

VA Loan Sanctions for Unethical Contracts and Marketing

Share List Deciphering the VA Lender’s Handbook Chapter 17 Part 8 The VA is willing to impose sanctions such as LDPs or even monetary penalties for a lender who is discovered using contracts or marketing methods that are either unfair to veteran borrowers or considered unethical. From the Handbook: “VA may impose sanctions, such as […]

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