Thanks for your service and welcome home! The agents who recommended starting with VA are right. You can apply for a certificate of Eligibility online here: http://www.benefits.va.gov/homeloans/eligibility.asp
Then, you need to contact a local Loan Officer to check your credit report and debt to income ratios. Once you have done that, your agent should be able to show you the homes you can qualify for and help make your dream a reality. by the way, look into the Texas Veteran home Loan program as well - the interest rates are unbelievable: http://www.glo.texas.gov/vlb/veterans-benefits/veteran-loans
If you don't already have an agent or if you need the name of a great loan officer who will understand your service and get you qualified, we will be happy to help you.
Doc Stephens, REALTORÂ® (and Vietnam Veteran)
I was in the Navy during Nam, and we should recognize each other.
Please go visit your nearest Veteran's Office:
* They are there to help us,
* They have no axe to grind,
* They will tell you about your Certificate of Eligibilty and how you can get it renewed.
* They have answers to your questions.
We are talking about NO DOWN, Minimum Closing Costs, and a lot more.
Good luck and may God bless
There is no limit to how many times you can use your VA loan eligibility. As a matter of fact, you can have more than one VA loan at a time. Once a VA loan is paid off, the eligibility used on that loan is restored.
If the home was foreclosed upon and the VA sold the home, the proceeds should have paid the loan and restored your eligibility. Even if there was a balance remaining after the sale, a portion of your eligibility may still be available.
The best way to determine your current eligibility is to request a current Certificate of Eligibility (COE) from the VA. Visit the US Department of Veterans Affairs website referenced below to find out the easiest way to get your COE. You can submit the request online, via airmail, or very quickly through a qualified lender.
Hope this helps,