Before we get into the standard purchase, we need to remind ourselves of some of the basic eligibility requirements to participate in the VA home loan program. So first of all, is this person a veteran, if so, we need their COE. Do they have their DD214? Did they provide their statement of service that verifies they’re actually eligible to participate in the
Discount points are an optional upfront fee a borrower can pay to lower the interest rate on a mortgage. One discount point typically equals 1% of the total loan amount. Paying points is a way to prepay interest in advance, which can reduce the monthly mortgage payment over the life of the loan.
In VA loans, the choice to use discount points is
When buying a home with a VA loan, “Estimated Cash-to-Close” and “closing costs” often get used as if they mean the same thing — but they don’t.
Closing costs include the fees and charges required to complete the loan, such as title, appraisal, and lender fees. Prepaids are items paid in advance — like property taxes, homeowner’s insurance, and prepaid interest.
On November 25th of 2022, a new VA circular pertaining to private roads and shared driveways
was released. Now, effective immediately, the VA is no longer requiring that a veteran obtain a private road maintenance agreement
to meet the minimum property requirements of the VA
home loan. The VA will be requiring that a public easement be recorded, which is usually already included
in the preliminary title
Starting July 1st all Medical collections will be reviewed and MAY be ignored on credit reports. Your payment history is 35% of your credit score. In the past this debt could affect your credit score for up to 7 years. Eliminating medical collections on credit scores will significantly increase credit scores for many people. This means your CREDIT SCORE goes up! And it also means the buying power
You’ve probably heard it before: “Sellers don’t like VA offers.”
But here’s the truth — the VA loan itself isn’t the problem. Misunderstanding is.
Imagine there are five offers on a home. The highest offer comes from a VA buyer, but another offer is conventional with a 30% down payment. Some listing agents see that and think, “If the appraisal comes in low,
Possibly — but it depends on what’s included in that $20,000.
Closing costs vary widely by location, lender, and what’s wrapped into that figure. For example, if the estimate includes:
Title insurance (sometimes paid by the seller in Florida),
Prepaid taxes and insurance for escrow setup,
On July 22, 2022, the U.S. Department of Veterans Affairs released Circular 26-22-13, titled “Procedures for Alternative Valuation Methods.”
In practice, this rule is known as the Appraisal Waterfall. It gives lenders and eligible VA borrowers more flexibility when traditional appraisals are delayed or difficult to complete.
Normally, VA appraisals require an in-person inspection by a VA-approved
Most issues that come up during a VA home loan stem from misinformation, not the program itself.
Some agents or lenders avoid VA offers because they’ve “heard” appraisals take longer or always require extensive repairs. In truth, those challenges often reflect a lack of VA experience, not actual VA policy.
The VA loan program is unique —
Understanding the VA Loan Estimate
The Loan Estimate (LE) is a standardized, three-page document that gives you a clear picture of your VA loan offer — before you commit.
Every lender must provide a Loan Estimate within three business days of receiving your loan application. It outlines your loan terms, estimated costs, and total cash needed at closing, helping you compare offers and
509 W FM120 #848
Pottsboro, TX 75076
509 W FM120 #848
Pottsboro, TX 75076
(903) 231-3588
