VA Home Loan Specialist
VA home loan helps or enables Service members, Veterans, and eligible surviving spouses to become homeowners providing them with necessary loans to help them get a new home. The main mission of VA home loan to serve you, we provide a home loan, guaranty benefit, and other housing-related programs to help you buy, repair, build, retain, or adapt a home for your own personal occupancy.
VA Home Loans are provided by private lenders, like banks and mortgage companies. VA guarantees a quota of the loan, enabling the lender to provide you with more favorable terms.
Imagine driving home, parking your car in your own driveway, walking across your own lawn, and coming through your own entrance and being greeted by your family. Nothing is as satisfying as coming home to a house you own. There’s a peace of mind and security that comes with homeownership. It’s the genesis of economic, financial, and cultural stability that has made the country great.
One of life’s great achievements is buying a new house. It’s not an easy task, from selecting the right neighborhood, schools, and finding a house that can be your family’s home for years; it is an important to need to prepare or get all the loan paperwork for financing the house. The processes aren’t usually difficult as you often think.
As a Military Veteran, you’re entitled to a Veterans Affairs loan benefit, which offers you access to financial stability including competitive rates on VA Mortgage Loans. Whether you’re trying to get a VA Loan in Texas, Florida VA Loan, California, or any of the 50 US states we’ll assist you to discover a Veteran Loan specialist which will offer you a hand.
How To Apply For A VA Loan
The VA itself doesn’t issue loans, so you’ll need to apply with a bank, credit union, or mortgage lender. Not all lenders offer VA loans, but many do, some even concentrate on giving VA loans.
You don’t get to work with a VA loan specialist, and that they won’t necessarily offer you a better loan than another lender who offers VA mortgages. A specialty lender may provide you with a more streamlined experience because of their expertise. That said, you need to not pay exorbitant rate or more closing costs to get assisted or work with a VA loan specialist.
VA Loan Eligibility Requirements
In general, you’ll qualify for a VA home loan if you served within the US Army, Navy, Air Force, United States Marine Corps, or Coast Guard after Sept. 15, 1940. You must have served for a minimum of 181 continuous days during peacetime or a minimum of 90 days, any of which occurred during wartime. If you were dishonorably discharged or didn’t serve long enough, you’ll not be qualified to be granted a VA loan.
National Guard members and reservists qualify if they’re mobilized for active duty for a minimum of 90 days or discharged thanks to a service-connected disability. They also qualify after six years of honorable service.
You’ll need a certificate of eligibility to participate in the VA loan program. You’ll apply for your COE online or by mail, or your VA lender can catch on for you. Surviving spouses also can sometimes get VA loans if their husband or wife died while serving, due to a service-related disability, or became a prisoner of war or went missing in action.
In addition to meeting military service requirements, you’ll even have to satisfy some financial requirements. You’ll get to show commitments or demonstrate that you’ll pay your mortgage, but a bankruptcy that was discharged two or more years ago won’t disqualify you.
Can I Be Denied A VA Home Loan?
You may be denied a VA home loan if you are not eligible or you do not meet the essential VA loan eligibility requirements or don’t meet a lender’s financial requirements. An FHA loan, insured by the Federal Housing Administration, might be another means of getting a loan if you have a lower credit score.
Who Is The Best Lender For VA Loans?
All VA loans are subject to rules and guidelines set by the U.S. Department of Veterans Affairs, but no two VA lenders are exactly alike or similar. Different VA lenders have unique business goals, they vary by the services and options or available features they offer and also the requirements they set for borrowers, like minimum credit scores. the most effective or best VA lender for you’ll be determined on your circumstances and desires or needs or what you would like. that’s why it’s important to shop for around to see mortgage rates and qualification requirements.
List Of Few VA Home Loan Experts And Their Rates
1 NBKC Bank |Min. Credit Score-620 |Min. Down Payment-30%
2 Veterans United|min. Credit Score-660 |Min. Down Payment-0%
3 Fairway Independent Mortgage| min. Credit Score-620 |Min. Down Payment-30%
4 BNC commercial bank | min. Credit Score-640 |Min. Down Payment-30%
5 QUICKEN Loans| min. Credit Score-620 |Min. Down Payment-30%
6 New American Funding| min. Credit Score-700 |Min. Down Payment-30%
7 Alterra Home Loan| min. Credit Score-620 |Min. Down Payment-30%
8 Caliber Home Loan| min. Credit Score-620 |Min. Down Payment-30%
9 Veterans First Mortgage| min. Credit Score-600 |Min. Down Payment-30%
10 Quicken Loans| min. Credit Score-620 |Min. Down Payment-30%