A guest post from VALoansGuidelines.Com:

Veterans in some parts of the country are running into problems purchasing foreclosed properties with their VA loans. The agency's strict appraisal process combined with a crush of commercial buyers swooping in to buy properties with cash has forced some veterans in California and elsewhere to prolong their home search.

Despite a few pockets of problems, VA loans remain one of the most flexible and low-cost options on the market for veterans and their families. VA loans are among the last avenues in the country to purchase a home with no money down. It is important for veterans to establish contact with a VA loan expert to learn their VA loans guidelines.

Qualified borrowers also save money on a host of other upfront costs that usually put a dent in homebuyers' wallets, including private monthly mortgage insurance. You don't have to worry about PMI when you don't have a down payment. Other major benefits include:

# Negotiable interest rate.

# Ability to finance the VA funding fee

# Closing costs are comparable with other financing types (and may be lower).

# An assumable mortgage.

# Right to prepay without penalty.

The VA do have specific VA criteria regarding the type and overall condition of homes that can be purchased with a VA loan. That's why some borrowers in hard-hit parts of the country have struggled to buy foreclosed properties - many simply don't meet the VA's criteria.

But the agency doesn't have strict criteria regarding a veteran's credit, income or other financial health. There are some basics, but even veterans who have experienced bankruptcy or foreclosure can still qualify for a VA loan.

VA loans can't be used for investment or rental properties, so veterans and their families must live in the homes they purchase. The VA also guarantees loans up to a specific amount - in most parts of the country the loan limit is $417,000. But that level has been increased to help veterans in some of the nation's more expensive regions.

Veterans interested in purchasing a foreclosed property need to understand the potential problems - find a VA loan expert who can help answer your questions, prepare you for the process, and present you with VA loan rates today. These high-impact loans have helped more than 18 million veterans become homeowners since World War II.

They're just as important six decades later.