Va Seasoning Requirements

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than the loan being refinanced. (Seasoning shall not apply to a VA cash-out or “regular” refinance if the principal amount of the new cash-out loan will exceed the amount of the loan being refinanced.) The required seasoning is the later of; (a) The date that is 210 days after the date on which the first payment is made on the loan, and;

Loan seasoning requirements are also part of the February 15th, 2019 update. The VA will not guarantee the new refinance loan if the loan being refinance has not been properly seasoned. This requirement applies to TYPE 1 refinance loans made to refinance an existing VA-guaranteed home loan AND all TYPE 2 refinancing loans.

Ginnie Mae, the investor for FHA and VA transactions, issued APM 17-06 on December 7, 2017 which addresses new Ginnie Mae.

 · VA cash-out requirements VA cash-out loans require documentation similar to that required for a VA home purchase loan. A new appraisal is required.

Last month, Ginnie issued an All Participants Memorandum (APM) announcing the implementation of changes to pooling eligibility requirements for Department of Veteran Affairs’ (VA) insured or.

07/12/18 2.6 Revised Loan Seasoning Requirements to remove the following Note: Seasoning requirement does not apply to a VA cash-out or "regular" refinance if the principal amount of the new cash-out loan will exceed the amount of the loan being refinanced. 06/05/18 2.5 Added The Protecting Veterans From predatory lending act

 · The VA IRRRL mortgage is known for its very few requirements, but the requirements it does have must be adhered to in order to obtain an approval. One of the largest restrictions on this loan program is the seasoning requirements. These requirements pertain to the length of time you must have held your original VA loan in order to get approved.

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The VA cash-out refinance is an often-overlooked but powerful program for U.S. military veterans who want to tap into home equity or pay off a.

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Ginnie Mae issued All Participant Memorandum apm 17-06 (apm), announcing revised seasoning requirements for refinance loans. Per the APM, the first payment due date of a streamlined refinance or a cash-out refinance loan must be at least 210 days after the first payment due date of the initial loan.