Eligible Loan Purpose

  

 
(Lender's Handbook, Chapter 3, Topic 2)
 
Eligible veterans may obtain loans to:

www.va.gov
va dot  Buy an existing home.
va dot  Build a home.
va dot  Simultaneously purchase and improve a home.
va dot  Refinance an existing mortgage loan.
va dot  Cash-out refinance.
va dot  Interest rate reduction refinance.
va dot  Convert an adjustable rate mortgage to a fixed rate.
va dot  Improve a home by installing energy-related features.
Did you know?

 

When first issued, the interest rate on VA loans could not exceed 4% and entitlement was limited to $2000.

 

 

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VA Lender Guide

 

va arrow History

 

va arrow The Complete Lenders Training Guide

 

 

Eligibility

 

 

va arrow General Rules For Eligibility

 

va arrow VA Eligibility Center

 

va arrow Military Records Center

 

va arrow Restoration of Entitlement

 

 

Loan Types and Requirements

 

 

va arrow Maximum Loan Amount

 

va arrow Eligible Loan Purpose

 

va arrow Interest Rate Reduction Refinance Loans

 

va arrow Cash Out/Other refinance Loans

 

va arrow Refinance Comparison Chart

 

va arrow Energy Efficient Mortgage

 

va arrow Joint Loans

 

va arrow Adjustable Rate Mortgages

 

va arrow Prior Approval Loans

 

va arrow Guaranty

 

va arrow Appraisal Assignments

 

va arrow Special Adapted Housing

 

va arrow VA Repossessed Properties

 

 

Underwriting

 

 

va arrow Income Verification

 

va arrow Assets

 

va arrow Debts and Obligations

 

va arrow CAIVRS

 

va arrow Credit Analysis

 

va arrow Compensating Factors

 

va arrow VA Form 26-6393

 

va arrow Maintenance and Utility Guidelines

 

va arrow Automated Underwriting Systems

 

 

Closing Packages

 

 

va arrow Closing Packages

 

va arrow Seller Concessions

 

va arrow VA Funding Fee

 

va arrow Guaranty Procedures

 

 

 

Appendix

 

 

va arrow VA Forms

 

va arrow Acronyms

 

va arrow VA Training Broadcasts

 

va arrow Jurisdiction Codes

 

va arrow Regional Loan Centers

 

va arrow VA Loan Number