VA Loans are unique in that there are certain closing costs a seller must pay for in a purchase. These are called VA “non-allowable” closing costs, as VA does not allow the veteran to pay these. The following is a list of the most common VA NON-allowable closing costs: Loan processing fee Loan underwriting fee Most escrow related fees (such [...]
August 2009
VA Loans have a major difference than FHA or conventional loans in the way borrowers qualify. A major part of qualifying for a FHA Loan or a conventional home loan is what is called the debt-to-income ratio. This is a calculation where a borrower’s total monthly debt (housing payment + debt that shows up on the [...]
If you are active military or a veteran and eligible for a VA Loan and you are thinking about buying a condo or townhouse, you will need to know if that condo or townhouse is FHA or VA approved before making your offer. You cannot get a VA Loan on any condo (whatever applies to condo’s [...]
