How to get a va home loan

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Va Loans for Vets provides and assists all veterans and active duty military with ALL of their VA Home Loan Financing Needs. Be a proud homeowner today. For more details call us at 480-351-5904 or visit our site http://www.valoansforvets.com/ VA Loans for Vets 7702 E. Doubletree Ranch Road, Suite 220 Scottsdale, AZ 85258 Phone: (480) 351-5904 Email: jimmyv@fcbmtg.com

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<p>How to Get a VA Home Loan</p> <p>How to Get a VA Home Loan</p> <p>1Those who have given service to the United States military either currently or in the past are eligible to apply for a VA loan for their primary residence.</p> <p>2VA loans make home ownership more affordable for service people.</p> <p>3To acquire a VA home loan, veterans must comply with the proper application process.</p> <p>4What is a VA LOAN?</p> <p>A VA home loan is a program offered by the Federal Department of Veterans Affairs for those who have served in the military or are currently serving.</p> <p>6Although they do not provide the money for these loans, they guarantee the loans made by private lenders.</p> <p>7This guarantee makes it possible for veterans to purchase a home without a down payment and to negotiate mortgages at lower rates.</p> <p>8A VA loan can also be used to refinance a property that was purchased under the VA program.</p> <p>9Home loans for veterans under the VA program can also be used to purchase specially adapted properties for veterans that have service-related disabilities.</p> <p>10The program can also help Native American veterans to purchase property on tribal-held land.</p> <p>11Your Certificate of Eligibility</p> <p>If the service person is currently serving in the military, the applicant should go to his or her commander, personnel office or adjutant to secure a Statement of Service.</p> <p>13It must show the name of the applicant, the social security number, date of birth, entry date on active duty, duration of any lost time and the name ofthe commander.</p> <p>14Eligibility is based on the length of service for both active duty members and reservists.</p> <p>15Veterans no longer in the service should have their Service Record. </p> <p>16Approval is dependent onHonorable Dischargeof military service.</p> <p>17Once the information is verified, the Department of Veterans Affairswill issue the Certificate.</p> <p>18Select Your Property</p> <p>The applicant can then begin to look at suitable properties to purchase.</p> <p>20Although the VA does not set limits on the amount you can borrow for a primary residence </p> <p>21the program cannot assume liability for mortgage amounts above the service members entitlement.</p> <p>22Basic entitlement is set at $36,000, but that is not the maximum.</p> <p>23The upper limit of a VA loan is determined by the location of the property you intend to purchase, and can be for much more.</p> <p>24A VA loan specialist can help youdetermine how much you can qualify for.</p> <p>Contact a VA Loan Specialist</p> <p>A VA loan specialist can help you in many ways.</p> <p>He or she is a mortgage broker who can:</p> <p>find better interest ratesget you qualified even with lower credit scoresmake the entire process much smoother</p> <p>Apply to Your Lender</p> <p>Once you have found a suitable home, you will apply to a private lender that accepts VA loan guarantees.</p> <p>30The service member must supply the Certificate of Eligibility whenapplying for the loan.</p> <p>The lender may also require a Statement of Service, which servesas verification of employment in the military.</p> <p>Military veterans may be asked for records of retirement benefits or other sources of income.</p> <p>Your Credit Record</p> <p>Although your Certificate of Eligibility can help you to secure a mortgage </p> <p>35the lender is free to deny the loan if yourcredit record shows payment problems.</p> <p>36The veteran should always ensure that past debts are paid on time and in full to ensure a good credit rating. </p> <p>Any problems should be negotiated with the debtor in advance of attempting to secure a VA loan. </p> <p>Your VA loan specialist can help you with that.</p> <p>Approving Your Loan</p> <p>The lender will then notify you of the approval of your loan with information about the mortgage rate. </p> <p>You will then be required to be at the closing of the loan to sign papers before you can take possession of the property.</p> <p>VA Loan Specialist Jimmy Vercellino helps veterans obtain the VA loans they are entitled to.</p> <p>VA Loans for Vets provides and assists all veterans and active duty military with ALL of their VA Home Loan financing needs.</p> <p>Be a proud homeowner today!For more details call us 480-351-5904</p> <p>www.valoansforvets.com</p>