To refinance an existing VA-guaranteed or direct loan for the purpose of a lower interest rate; To refinance an existing mortgage loan or other indebtedness secured by a lien of record on a residence owned and occupied by the veteran as a home; Eligibility Requirements for VA Home Loans Service during wartime:
The VA loan program’s success in terms of low foreclosure rate is due in part to these residual income requirements. VA Appraisal. Once the buyer gets under contract on a home, a VA appraisal is conducted to assess the market value and condition of the property. The VA appraisal is a required.
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