38 CFR 36.4355 - Loans, first, second, or unsecured.

§ 36.4355 Loans, first, second, or unsecured.

Loans for the purchase of real property or a leasehold estate as limited in the regulations concerning guaranty or insurance of loans to veterans, or for the alteration, improvement, or repair thereof, and for more than $1,500 and more than 40 percent of the reasonable value of such property or estate prior thereto shall be secured by a first lien on the property or estate. Loans for such alteration, improvement, or repairs for more than $1,500 but 40 percent or less of the prior reasonable value of the property shall be secured by a lien reasonable and customary in the community for the type of alteration, improvement, or repair financed. Those for $1,500 or less need not be secured, and in lieu of the title examination the lender may accept a statement from the borrower that he or she has an interest in the property not less than that prescribed in § 36.4354(a).

(Authority: 38 U.S.C. 3703(c)(1))
[ 73 FR 6310, Feb. 1, 2008. Redesignated at 75 FR 33705, June 15, 2010, as amended at 80 FR 34319, June 16, 2015]

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United States Code
Public Laws

Title 38 published on 09-May-2017 03:49

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 38 CFR Part 36 after this date.

  • 2017-04-13; vol. 82 # 70 - Thursday, April 13, 2017
    1. 82 FR 17792 - Loan Guaranty: Revisions to Allowable Charges and Fees Assessed Incident to VA-Guaranteed Home Loans
      GPO FDSys XML | Text
      DEPARTMENT OF VETERANS AFFAIRS
      Advanced notice of proposed rulemaking.
      Comments must be received on or before June 12, 2017.
      38 CFR Part 36
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