How do I prove occupancy on a VA loan?

Part of your loan paperwork will include signing two forms that certify your intent, as the borrower, to occupy the home as your main address. They are VA Form 26-1802a, HUD/VA Addendum to the Uniform Residential Loan Application, and VA Form 26-1820, Report and Certification of Loan Disbursement.

Do you have to occupy a VA loan home?

VA loans require that you occupy the property within 60 days of closing. Anything beyond that it’s considered a rental property and the new VA loan could be called in and foreclosed upon. VA lenders understand that active duty personnel sometimes don’t stay put for very long.

How do mortgage lenders verify occupancy?

Verification. Lenders usually stipulate that homeowners have 30 days after closing to occupy a primary residence. To verify the person moving in is actually the owner, the lender may call the house and ask to speak to the homeowner. The lender may also drive past the house looking for a rental sign in the yard.

Can you have a non occupant co borrower on a VA loan?

Except for a spouse, no civilians may co-borrow for a VA loan. Furthermore, the veteran you choose to be a co-borrower must intend to live on the property with you.

What are the requirements for a HARP refinance?

Your mortgage must have a current loan-to-value ratio of over 80%. This means that your home mortgage’s current amount is 81% or more of your home’s value. The first thing you have to look at is your current mortgage and your payment history. To be eligible for the HARP program, you must be current on your mortgage payments.

How does the harp program help underwater homeowners?

The HARP Program. HARP is a federal program that was created to help underwater and near-underwater homeowners refinance their mortgages. In order to qualify for this program, home owners have to be current on their mortgage payments, but also unable to refinance their mortgage loans due to plummeting home values.

What does harp stand for in mortgage relief program?

The HARP Program HARP is a federal program that was created to help underwater and near-underwater homeowners refinance their mortgages. In order to qualify for this program, home owners have to be current on their mortgage payments, but also unable to refinance their mortgage loans due to plummeting home values.

Can a PMI qualify for HARP 2.0?

Although HARP 2.0 allows home owners with PMI to participate in the program, many home owners have faced reluctance from their original lenders to refinance their loans. HARP requires the new loan to provide the same level of mortgage insurance coverage as the original loan.