VA LOAN CAPTAIN BLOG & Learning Center

Five Frequently Asked Questions After Obtaining a VA Loan

By: Grant Moon 04/30/12 07:30 am

Tags: , , , , , , ,

There can be loan related queries even after you have got your VA guaranteed home loan. Five FAQs are answered below:

1.  Is a VA loan appraisal better than a detailed inspection of the property to identify major defects, if any?

A VA loan appraisal of the property is not a conclusive inspection, even though the VA appointed appraiser has to check for basic defects and determine the overall condition of the house. The VA encourages all veterans to take professional help to check for major defects in the house if they are intending to buy.

2.   Does a VA approved lender have the right to collect taxes and insurance?

VA insists that all lenders collect property taxes and related insurance. Many lenders use escrow accounts to manage such collections, which are not stipulated by VA.

3.   Does a veteran have the right to sell a house purchased with a VA loan?

The VA does not attach any conditions to VA loan and selling the house, as it can be sold to even a non veteran. However, VA has to be notified in the case of a sale (for all loans taken after March 1, 1988) in order to process the credit approval of the new owner and for other related procedures.

4.   Will the VA loan basic entitlement be reinstated after the sale of the property? Will the veteran become free from the liability of the loan amount?

The VA loan basic entitlement can be reinstated if the new owner:

• Is a veteran.
• He or she has approval from the VA or VA approved lender for credit ratings.
• Has sufficient balance on his or her VA loan entitlement to substitute it for the veteran.
• Agrees to meet the VA loan occupancy requirements.

5.   What will happen to the VA loan mortgage repayments in the case of sudden death of the veteran?

The surviving spouse or the joint borrower if any has to repay the remaining loan amount. In case the veteran is unmarried or if there are no joint borrowers then the loan amount will be settled from the veteran’s estate.

For high quality service VA loans at affordable VA loan mortgage rates with a veteran owned company please visit


VA Loan Captain, Inc. is a service disabled veteran owned small business registered in the state of New Jersey.® is a diversified housing, benefits, education, and services platform assisting current and former servicemembers to receive the information, value, and services that they deserve.® has partnerships with veteran focused non-profits and charities that provide services to veterans but is not affiliated with the VA or any government agency.

© 2021 - All Rights Reserved.

Please complete the following fields to be contacted by one of our representatives.

To find out if you are eligible, complete the following fields to be contacted by a certified VA loan consultant.