Why Get a VA Loan?

With a VA Loan, you can get a loan with no down payment, a fixed interest rate that is as good as-or better than-conventional mortgage rates, and much more. Complete the form below to find out if you qualify-and for how much.

How to Pre-qualify for a VA loan

You will have more freedom and control when you purchase a new home if you are pre-qualified, or pre-approved, for a VA Home Loan. As a buyer, you will have the reassurance that you have already been approved for up to a certain amount for a home loan, and the seller will know that you mean business and are serious about buying a home. Pre-qualifying for a loan is not a difficult process, and it will provide you with a price range when shopping for a home.


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Getting Pre-qualified

The following are some things you need to do to be pre-qualified for a VA Home Loan:

  • Find an approved lender, like the Veteran Loan Center
  • Determine your eligibility for a VA Home Loan; a lender can help you to get a Certificate of Eligibility, which can now be done by the lender in minutes on the computer through the ACE (Automatic Certificate of Eligibility) system
  • Give the lender all other pertinent information, such as tax returns, income information, a credit report, etc.
After you have given the lender all the information they need, they will be able to tell you for how much you are pre-approved. Once you are pre-approved for up to a certain loan amount, the lender will also give you a pre-approval notice that states you have been approved for a loan for up to a certain amount. You can show this document to sellers when you make an offer on their house. This way, they will know that you have genuine interest in purchasing their home.

VA Loan Eligibility

There are more than 25.5 million Veterans and service personnel eligible for VA financing, and the VA Loans offer many advantages. Keep in mind that VA Loans are only for Veterans who served on active duty and have a discharge other than dishonorable after serving a minimum of 90 days during wartime or a minimum of 181 continuous days during peacetime. There is a six-year requirement for the National Guard and Reservists with certain criteria. If you meet the these requirements, you are lucky enough to be eligible to pre-qualify for VA Home Loan.

If you are a first-time homebuyer and eligible for a VA Loan think about the following:

  • With a VA Home Loan, you can buy a new home for up to $417,000 with no down-payment and get the same low VA Loan interest rate.
  • With a VA Loan, the seller is allowed to pay all of your closing costs.

The following are other important facts you should know when looking at getting a VA Home Loan:

  • All qualified Veterans have an equal opportunity to obtain a VA Loan.
  • Va Loans do not require a down payment.
  • With Va Loans, the uyer informed of reasonable value.
  • VA Loans have a negotiable interest rate.
  • VA Loans offer the ability to finance the VA funding fee and offer reduced funding fees with a down payment of at least 5%. Veterans receiving VA compensation are exempt from the funding fee.
  • VA Loans offer comparableÑif not lowerÑclosing costs to other financing types
  • VA Loans do not require mortgage insurance, saving you money on premiums
  • VA Loans offer an assumable mortgage
  • VA Loans give you the right to prepay without penalty .
  • For homes inspected by the VA during construction, you can get a warranty from the builder and assistance from the VA to obtain cooperation of the builder
  • The VA offers assistance to Veteran borrowers in default on their VA Loan due to temporary financial difficulty

If this sounds like the loan for you, please don't hesitate tocontact us today. A VA Loan Specialist will be waiting to help you find your new home.



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