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VA Guidelines

What is a VA Loan?

The VA home loan has been extremely popular and advantageous to the more than 29 million veterans and service personnel eligible for VA financing.

- more on VA Loans

VA Loan Limits

Before asking for the loan, many smart veterans ask if there are VA Home Loan lending limits. The answer is yes…but those limits are being increased all the time.

- more on VA Limits

VA Closing Costs

The VA defines allowable charges and fees that the veteran borrower can pay or closing costs that may be charged to the borrower. All of these costs are determined as reasonable and customary by each local VA office.

- more on VA Closing Costs

Debt-to-income Ratios

The VA strongly believes that a borrower who has made timely payments for the last 12 months serves as a guide and demonstrates their ability to repay a loan.

- more on VA Debt Ratios

VA Funding Fee

The VA loan funding fee is required by law. The fee, currently 2.15% percent on no down payment loans, is intended to enable the veteran who obtains a VA home loan to contribute toward the cost of this benefit, and thereby reduce the cost to taxpayers.

- more on VA Funding Fee

VA Credit Issues

When the VA automatic underwriter analyzes the borrower's credit, they do take into consideration the whole picture. It is the overall pattern of credit behavior that must be reviewed, rather than isolated cases of slow payments.

- more on VA Credit Issues

The Law on Occupancy

The VA guidelines specifically require a veteran obtaining a VA guaranteed home loan to certify in writing that they intend to personally occupy the property as their home.

- more on VA Occupancy Laws

Co-signors and Joint VA Loans

The VA guidelines recognize legally married spouses of qualified veterans as co-signors on VA loans and can include their income. These loans can be fully guaranteed by the VA.

- more on Joint VA Loans

Your Loan Checklist

VA loan applicants should be prepared, and should organize the various documents required to qualify for and obtain their mortgage.

- more on Your Loan Checklist

VA Loan News, Guidelines, and Information for Veterans

:: VA Guaranty and a VA Loan--Is There a Difference?

Many assume the VA provides the money for a VA guaranteed loan, but private banks issue the actual VA mortgage—no money comes from the VA unless the buyer defaults and goes into foreclosure.

:: VA Loan Assumption

Active duty military members facing PCS moves or veterans who want to sell an old home and buy a new one are often faced selling their home before the VA loan is paid in full.

:: VA Loan Eligibility After a Military Spouse's Death

Death benefits connected to VA loans are intended for surviving spouses only. They are not extended to other family members including siblings or children.

ADDITIONAL ARTICLES