UPDATE February 2019
Can You Get A VA Mortgage With An Open CAIVRS Report?
Yes you can, depending on why you’re in the system.
Call me at (877)228-9069 for more information or help.
If you have applied for a VA Mortgage and had your loan denied because of the CAIVRS report you probably wondered why and what it is.
CAIVRS stands for Credit Alert Interactive Voice Response System. The U.S. Department of Housing and Urban Development maintains this system, which includes federal tax liens and information from governmental agencies like VA, FHA, USDA & SBA to name a few.
For example, Veterans who have yet to settle over-payments on education or disability income may trigger a hit in the CAIVRS system.
Perhaps the most common CAIVRS Report issue is tied to defaulted Student Loans so staying current on Federal Student Loans is critical.
* UPDATE – If you have Student Loans that are in default and reporting in the CAIVRS system, it is still possible to get approved for a VA Mortgage!*
* UPDATE # 2 – Basically you can find yourself in the CAIVRS system anytime you owe the Federal Government money. So let’s say you owe Restitution to the Federal Government, you’ll be in the CAIVRS system BUT that doesn’t mean you are not eligible for a VA Mortgage!
*Update # 3 – This now applies to FHA mortgages as well!
I’ve had several people contact me after getting turned down by other lenders that had filed chapter 7 Bankruptcy and included an FHA Mortgage in the Bankruptcy.
The Bankruptcy isn’t an issue once it has been discharged for 2 years under the VA guidelines for a new VA Mortgage. The problem is when FHA pays a claim, you end up with a CAIVRS Report. Pretty much every VA Mortgage lender out there will tell you there is no way you can get approved for a VA Mortgage until you clear up your CAIVRS Report but the only way to do that is to pay off the claim or wait it out! The wait time will be 36 months from when the claim was paid!
The good news is I can get your VA Mortgage approved & closed even though you have an open CAIVRS Report as long as the CAIVRS Report was the result of an FHA or VA Mortgage being included in a Bankruptcy or through foreclosure and it’s been at least 2 years since the discharge or the foreclosure sale!
*A new update on the whole situation of including a mortgage in Bankruptcy & when you’re eligibility starts. A lot of lenders will tell you that if you stayed in the home & did not make a payment on the mortgage, you are not eligible for a VA Mortgage until 2 years after the bank forecloses on the home! This is NOT what VA requires so it’s a lender overlay. I can go by the discharge date of the Bankruptcy regardless so don’t let anyone tell you that you have to wait longer!
Here are some reviews from Veterans that I’ve helped get a VA Mortgage for a new home with an open CAIVRS hit.
These reviews are not made up testimonials on my own site, these reviews are on my Zillow.com profile here:
https://www.zillow.com/lender-profile/MTG%20Banker/
Getting a loan while on the CAIVRS report
jamesrenee13 from Suffolk, VA
John and his team got my wife and I in to our home while I was on the CAIVRS list after a bankruptcy and closed in 35 days. Thank you John and your team for your help and persistence
I cannot say enough good….
boller bonnie from New Germany, MN
I honestly cannot say enough good words when it comes to John and his team.
My husband and I were ready to purchase a home after many years of renting. Our current landlord was also ready to sell the house, so we were under a deadline to make this happen.
Due to credit issues (of our own past fault – a default on a student loan from years ago). We were told by multiple lenders our dream was not possible, especially going with a VA loan because we were in the CAIVRS system. I had spoken to many, and always told the same.
I stumbled on John’s name and read a post on a site, of a woman asking his advice. Since her situation basically paralled mine, I decided to contact him as well.
John assured me there was a way. To make a long story short…..we just closed on our home Jan 4th!
John’s experience and knowledge literally saved us. I would without a doubt recommend him to everyone.
ABSOLUTELY THE BEST!!
Robi and Kennetg from Houston, TX
After receiving the worst service and help with a different lender John and his team stepped in to help us in a difficult situation! We came to John with a very tight timeline to proceed with closing on our new home in time. We were packed and ready to move with a new baby on the way when we were told by our terrible lender that they wouldn’t be able to close… John took on the task and had us approved and ready to close in time! He and everyone we worked with was professional and so helpful! We were in such a crisis and feeling so defeated! John made our dreams come true! We will never use anyone else for our future home buying and you shouldn’t either!
Nothing Short of Amazing!!!
naeemmolette from Dallas, GA
I found John when I realized I was in CAIVRS. His name kept coming up in a forum so I checked the reviews and called him immediately. John and his team were outstanding in their communication and in being proactive to close my loan quickly. Amanda and Amy were amazing in processing the loan; down to the day before when Amy noticed that the DTI was slightly off, she took it upon herself to reach out to our insurance agent to get a lower rate and solved the DTI problem before I even knew it was a problem!! This home buying process was stressful in and of itself BUT John and his team make it worth doing again. Thanks for helping our family’s dream come true!!! Forever grateful!
Easiest home purchase ever
zuser20161206044956703 from 78130
John Burke and his team at Great Plains Bank made my mortgage process extremely easy. This was our third home purchase, so I had somewhat of an idea what the steps were. The part I was concerned about was the fact that in 2014 we had filed chapter 7 Bankruptcy and lost a home to foreclosure. The home we lost was an FHA loan which of course landed us on the CAIVRS list. For any of you curious, the CAIVRS list is the governments do not lend list which will bar you from receiving a government-backed loan such as an FHA or VA mortgage. There is little information published about it, but the rules for lending afterward can be very confusing. Most banks will just write you off, trust me I had inquired with at least 6 different lenders.
I saw a post somewhere where John Burke had mentioned depending on the circumstances he could probably make a VA Mortgage happen. I contacted him, sent all the required documents and had a pre approval in a few days. I will say that prior to the Bankruptcy and after my wife and I had pretty decent credit. I will admit, I was very skeptical that I was going to invest a lot of time and money into finding a house, getting all the appraisals and inspections completed to be told oh sorry, we can’t do this. I was wrong. We found a house, had an accepted offer on February 12th, 2017. We closed on the house March 10th, 2017. John is a man of his word.
I will end by saying if you have made some decisions in the past that have put a mark or two on your record that would cause most banks to deny you, give John a few minutes of your time. If there is a way to get you into a home, he will do it. 2/17/2017
Amazing Lender Who Will Work Hard For You!
zuser20151213184354857 from 27534
Working with John Burke was more like dealing with an old friend than a mortgage professional. John was extremely thorough and professional. I know that for me, not feeling like I’m just another account was probably one of the most enjoyable parts of the whole home buying process. John never once hesitated to answer any of my questions or phone calls, which is rare these days! He explained all the paperwork and options to us with patience and clarity, and walked us through the process with steady and responsive communication. I felt that he wanted the best for my family the entire time, and for these reasons I can never thank him enough. You will not be disappointed if you use John. So glad I decided not to use a “big bank” that would have just shuffled me through. Thanks John!
Highly likely to recommend
7/12/2016 at 3:14 PM – cadj62
CLOSED PURCHASE LOAN.
I can’t say enough good things about John Burke and his team. We had to file chapter 7 Bankruptcy in 2012 to get out from under a home that got caught in the housing meltdown and had lost over 60% of it’s value and being faced with my job being relocated to CO. We relocated to CO in 2013 and did the right things after the Bankruptcy such as rebuilding our credit and score and applied for a VA Mortgage after 30 months. At this time we were told we had an open CAIVRS and we were instructed to call the government agency to inquire about the date it was filed. We called only to find out nothing was ever filed therefore there’s no date. It’s considered an “open” CAIVRS which is basically a dead end to this agency. The best they could do is tell us to call the mortgage company that financed the house in NY and ask them why they never filed a claim?? I was about to give up for a year and found John Burke’s name and read the stories from others who struggled with similar situations. I contacted John and he took my application over the phone, he asked for copies of a few things and I had my pre-approval letter the same day. Within two weeks we found the perfect home and had an accepted offer. John and Brittany the processor were awesome. In fact my realtor made a comment that it’s probably the smoothest financial transaction he has been involved in. Today a month after closing, me and my family are enjoying our new home. It’s truly a blessing considering the nightmare we endured in NY. If you have a similar issue contact John Burke he will help you in any way he can.
If you have questions or you want to see how much you qualify for, feel free to call me at (877)228-9069 or fill out the form below.
