VA Financing Real Estate Blog

  • How Much Can I Borrow With a VA Loan?

    Once service members start thinking about a home purchase, a common question arises: "How much can I borrow with a VA Loan?" It’s a simple question. The answer? A bit more complex. Here’s a look at five factors that will determine how much a service member can borrow with a VA loan, and what the advantages to the VA loan program are. Factor #1: The VA Guaranty The VA loan program doesn't employ a …

  • How VA Appraisers Determine a Home’s Value

    Contract? Signed. Movers? Hired. Appraisal value? $20,000 low. Uh-oh. Buying a home isn’t as simple as signing a purchase contract and packing a few boxes. All parties to the transaction must be fully on board with the purchase. And a VA lender will refuse to step on-board if a property’s value falls short of the loan amount. Should the VA appraisal value fall below the desired loan amount, buyers mus…

  • How Buyers and Agents Can Handle Common VA Appraisal Problems

    A problematic appraisal is a typical fear among buyers and agents. Whether in the form of a low appraisal value or a litany of mandated repairs, VA appraisal challenges can be alarming. VA appraisal problems can slow down the process and even force buyers to restart the house hunt. Fortunately, buyers and their agents have options for handling appraisal challenges. Read on for solutions to the two most common …

  • How to Challenge a Low VA Appraisal Value: The Reconsideration of Value

    Military buyers wait on pins and needles for the results of the VA appraisal. A low appraisal value sends a stinging message to would-be homebuyers: This deal might not fly. Don’t toss that transaction out the window just yet. A fighting chance remains for those buyers who can show that a VA appraisal value is erroneously lower than the asking price. Let’s talk about the VA’s Reconsideration of Value. …

  • The VA Appraisal and Electrical Systems: What Is Required?

    Are you wondering how your VA appraiser will feel about exposed wires, a sparking fuse box or knob-and-tube wiring? Ponder no more. Let’s talk about the electrical portion of the VA appraisal. MPRs and Electrical Systems The VA issues a list of Minimum Property Requirements (MPRs) to every VA appraiser. Appraisers must ensure that properties meet or exceed MPR standards to qualify for VA financing. …

  • 4 VA Appraisal Dealbreakers (and How to Handle Them)

    Let’s be honest: The VA appraisal has a reputation of being problematic. But it doesn't have to be. With a little knowledge and a watchful eye, you can help guide your buyers to properties that will easily meet the VA's Minimum Property Requirements. Boost your VA appraisal know-how with a review of four big VA appraisal pitfalls to avoid: 1. The leaky basement Water can cause an unbelievable amount of dam…

  • VA Loan Basics: What is the Certificate of Eligibility?

    It’s the green flag that starts the race. It’s the bell that kicks off the day. It’s the ticket that lets you into the show. It’s the Certificate of Eligibility. Known as the starting point of the VA loan process, the Certificate of Eligibility (COE) proves to a lender that a buyer has met the VA’s service requirement. And while it’s a short and simple document, the COE can stir up a lot of conf…

  • 8 Things You Must Know About the VA Appraisal

    The VA appraisal is a unique evaluation of properties financed by VA loans. And with its unique guidelines, the VA appraisal is worth careful study by buyers and agents alike. Need a study guide along the way? Let’s take a look at eight things buyers and agents must understand about the VA appraisal. 1. It’s mandatory. You’ll have a lot of choices to make on your homebuying quest. But if you’re …

  • How Tough is the VA Appraisal? 3 Factors to Consider

    The unbeatable benefits of the VA loan program aren’t bestowed on every property that catches a military buyer’s eye. In order to garner VA approval, every home must undergo a VA appraisal. And although the VA appraisal has a reputation for being rigorous, its intentions are honorable: ensuring that homes purchased by veterans are fiscally and structurally sound. So how tough is the VA appraisal? In thi…

  • VA Loan Basics: What is the VA Loan Limit?

    Yes, there is a VA loan limit. But there isn’t a maximum VA loan amount. Bewildered? Join the ranks of service members and real estate agents who are baffled by the mysteries of “VA loan limits.” Let’s wade through the confusion with a clear and simple explanation. What is the VA Loan Limit? First off, understand that the term “VA loan limit” is a bit of a misnomer. The Department of Veterans…