VA may include financing of up to 100% of the propertyâ€™s value, lower interest rates, no mortgage insurance requirement, and lower closing costs than with conventional mortgages. VA Loan programs are for veterans, reservists, and active-duty service members.
If you are or have ever been a member of the United States Military, you may qualify for VA loan benefits.
Contact our office today to discuss your home funding options.
VA Loan Rising Popularity
The VA Loan program is the most powerful home loan program on the market for veterans and military families. These flexible, government-backed loans come with significant benefits that open the doors of homeowner ship to veterans who might otherwise struggle to obtain financing.
The increasing popularity has stemmed from the loan programâ€™s signature benefits, which include:
No Down Payment
No Private Mortgage Insurance
Competitive Interest Rates
No Pre-Payment Penalty
Am I Eligible for a VA Home Loan?
Through dedicated service to our country, military service members and veterans qualify for a range of benefits earned through their service. Chief among those benefits is an opportunity to take part in the VA Loan program.
While the VA Loan is designed specifically for those who served, there are a handful of requirements. In order to qualify for a VA Loan there are specific service conditions each borrower must meet.
You may be eligible for a VA Home Loan if you meet one or more of the following conditions:
You have served 90 consecutive days of service during wartime OR
You have served 181 days of services during peacetime OR
You have more than 6 years of service in the National Guard or Reserves OR
You are the spouse of a service member who died in the line of the duty or as a result of a service-related disability
Obtaining your Certificate of Eligibility
All recipients of a VA Loan must first obtain a Certificate of Eligibility (COE), a formal document that explains what VA entitlement you possess, through the Department of Veterans Affairs. Not to worry, however, your Veterans United Loan Specialist can help you secure your COE, usually within a matter of minutes. You do not need your Certificate of Eligibility in hand to start the loan process with Veterans United.
VA Loan applicants may also obtain their Certificate of Eligibility themselves by filling out a Certificate of Eligibility Request Form (VA Form 261880). The form can be downloaded through the Veterans Administrations site and mailed directly to the VA.
Additional Eligibility Requirements
Although the VA determines the guidelines for those who are eligible for the VA Loan benefit, private lenders who finance the home purchases have an additional set of criteria a potential borrower must satisfy, including debt, income and credit requirements.
The best thing to do is to select a Realtor (one of us), share your wants and needs and they will in-turn be able to provide counseling as to how it all comes together if you're not experienced with the process. Also we'll be able to provide a list of homes that fit you budget.
Rocky G.H. Hawrysz
Prudential California Realty
(209) 444-6610 Direct
(209) 433-2000 Fax
License No. 01468373
Just closed a purchase transaction in Tracy with the VA. My office is located in Pleasanton, so it was very easy to meet with the buyers.
I was able to have very detailed conversations with the listing agents and had them realize that purchasing with VA would neither delay nor make it more expensive for the sellers.
I would be very happy to discuss with you in detail.
You may reach me at email@example.com or give me a call!
Here is some info for VA
The process to obtain a VA loan can take longer than with a conventional loan, mortgage brokers note, which was one factor in their declining popularity versus other products.
"In the past, many Realtors have steered borrowers away from government loans, including VA and FHA loans, because of the additional documentation required as part of the appraisal and inspection process," says Steve Jacobson, CEO of Fairway Independent Mortgage Brokers.
"There was a perception that these government-backed loans got more scrutiny and that they take longer to close."
While the process may take longer than a conventional loan, the more favorable terms are worth it, and there are steps you can take to speed it along, such as obtaining your certificate of eligibility before you sign an agreement to purchase a home and ensuring that your purchase price is comparable to other similar homes in the area.
Read more: http://www.bankrate.com/finance/mortgages/va-loans-offer-goo
I can help you to get with the lender that I work and help you to the whole process.
Here is my info:
Withman Padilla, Realtor at Realty World Millennium in Tracy
Cell: 209 814 3826
First is to get a loan pre approval , I know good team from Bank of America and Wells Fargo. Let me know if you would like their information.
There are lot of listings with VA loans in Tracy , if you would like to get listing feel free to let me know on information below;
RE/MAX Active Realty.
Short Sale And Foreclosure Resource
Phone: (510) 676-4770