VA loans are awesome.  As an AE I wish when I was originating I knew what I know now about VA loans and would’ve marketed these like crazy.  A brokers 100% successful product market campaign that will drive results.  VA loan marketing.  Sometimes when a broker markets a specific target marketing they can get an array of qualified and unqualified individuals.  VA loan marketing will drive results as a result of product guidelines. VA’s guidelines are such a breath of fresh air to see the openness and leniency of guidelines.  I’ve taken the time to list a few guideline tricks to help add value to my network on VA loans.

Guidelines and overlays to look out for. Some lenders don’t allow all of these, ML does.

• No AVM on VA IRRRL or 2055 required. -ML goes off the original loan amount for the LTV
• Up to 135% of the original loan amount is allowed on VA loans
• VA loans with ML go down to 580 and we can do 100% CASH OUT.  Up to 1 Million loan amount.
• VA allows up to 100% cash out with a 700 FICO up to 1.5 Million (1-1.5 million a 700 FICO is needed)
• VA IRRRL’s can be done with a Mortgage Only credit report that shows the ficos. “Non-credit qualify” is an option with ML.
• VA allows any DTI on any “accept” finding.  VA can be run on DU or LP.  Some companies only allow for one or the other.  ML allows both.
• VA allows manual underwriting up to 50% DTI if the client has 3 months reserves and with ML you also need 150% residual income.
• Collection accounts do NOT need to be paid off
• Disputed accounts don’t disqualify the client (and you don’t need to remove them)
• On VA loans you can ignore charge off accounts.
• Judgements do need to be paid off.
• FLIPS are allowed on VA loans.
• Foreclosure and BK 7 wait is only 2 years

VA loan guidelines are more interesting than that of FHA in my opinion.  They are more advantageous to potential clients (Vet’s) with somewhat challenging circumstances.  Hence why a target marketing campaign for VA type loans is so successful in almost any area.  (helpful in area of Military Bases) I love helping serve others that helped serve us.  Motive Lending (ML) offer’s the “real VA IRRRL” and goes by findings.  We also manually underwrite and have great pricing.  And if you are sending in a 100 dollar check right now to some lender to sponsor you to do VA loans this year, LOOK NO FURTHER.  The JUICEMAN and his MOTIVE-ATING team can help. Please call me with all “I got a guy” questions on VA loans.  – JUICEMAN