How To Get A VA Home Loan

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How to Get a VA Home Loan
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• Those 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.

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• VA loans make home ownership more affordable
• for service people.

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• To acquire a VA home loan, veterans must comply
  with the proper application process.

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What is a VA LOAN?
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• 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.

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• Although they do not provide the money
• for these loans, they guarantee
• the loans made by private lenders.

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• This guarantee makes it possible for veterans
• to purchase a home without a down payment and to
  negotiate mortgages at lower rates.

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• A VA loan can also be used to refinance
• a property that was purchased
• under the VA program.

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• Home loans for veterans
• under the VA program can also be used
• to purchase specially adapted properties
• for veterans that have service-related
  disabilities.

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• The program can also help Native American
  veterans to purchase property
• on tribal-held land.

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Your Certificate of Eligibility
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• 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.

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• It 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.

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• Eligibility is based on the length of service
• for both active duty members and reservists.

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• Veterans no longer in the service
• should have their Service Record.

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• Approval is dependent onHonorable Dischargeof
  military service.

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• Once the information is verified,
• the Department of Veterans Affairswill issue the
  Certificate.

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Select Your Property
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• The applicant can then begin to look at suitable
  properties to purchase.

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• Although the VA does not set limits on the amount
  you can borrow for a primary residence

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• the program cannot assume liability for mortgage
  amounts above the service members entitlement.

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• Basic entitlement is set at 36,000, but that is
  not the maximum.

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• The upper limit of a VA loan is determined
• by the location of the property you intend
• to purchase, and can be for much more.

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A VA loan specialist can help youdetermine how
much you can qualify for.
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Contact a VA Loan Specialist
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A VA loan specialist can help you in many ways.
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He or she is a mortgage broker who can

• find better interest rates
• get you qualified even with lower credit scores
• make the entire process much smoother

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Apply to Your Lender
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• Once you have found
• a suitable home, you will apply
• to a private lender that accepts VA loan
  guarantees.

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The service member must supply the Certificate
of Eligibility whenapplying for the loan.
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The lender may also require a Statement of
Service, which servesas verification of
employment in the military.  
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Military veterans may be asked for records of
retirement benefits or other sources of income.
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Your Credit Record
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• Although your Certificate of Eligibility
• can help you to secure a mortgage

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• the lender is free to deny the loan if
  yourcredit record shows payment problems.

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The veteran should always ensure that past debts
are paid on time and in full to ensure a good
credit rating.
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Any problems should be negotiated with the debtor
in advance of attempting to secure a VA loan.
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Your VA loan specialist can help you with that.
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Approving Your Loan
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The lender will then notify you of the approval
of your loan with information about the
mortgage rate.
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You will then be required to be at the closing of
the loan to sign papers before you can take
possession of the property.
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• VA Loan Specialist Jimmy Vercellino
• helps veterans obtain the VA loans they are
  entitled to.

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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.

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Be a proud homeowner today!

• For more details call us
• 480-351-5904

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www.valoansforvets.com