Understanding the VA Loan appraisal process The appraisers main job is to assess: Fair market value Compliance with Minimum Property Requirements The VA Appraisal Timeline VA appraisals are ordered through the VA portal. The appraisal request is sent to the next available appraiser. There are only a handful of VA certified appraisers in Middle TN […]

VA Minimum Property Requirements video Single-family home (Mobile Homes included) Condo unit  in approved  building Must be owner occupied No businesses, vacation homes, commercial farms No maximum acreage requirements VA Minimum Property Requirements VA Minimum Property Requirements help ensure the property is safe and habitable. Here they are at a 20,000 ft view per the […]

Here are the VA Loan Guidelines regarding Income sufficient for a VA Loan per Ch 4 of the Lenders Handbook a. Underwriter’s Objectives Identify and verify income available to meet: the mortgage payment, other shelter expenses, debts and obligations, and family living expenses. Evaluate whether verified income is: stable and reliable, anticipated to continue during […]

Here is a simplified version on what the VA says about your credit. The updated 2019 VA loan guidelines for credit (Ch 4) can be found here here. Really, the VA just says one general thing about your credit… The borrower must have suitable credit. Now try to define suitable credit. Its not possible. The […]

VA loan video educational series part 7 – VA Underwriting Requirements The VA has very loose underwriting requirements. It is VERY important for Veterans, lenders, mortgage underwriters to understand what the VA says about underwriting VA loans. Here is the 20k ft view on what you need to understand: Understanding Automated Underwriting Systems (AUS) Underwriting […]