Will lenders accept my VA home loan guarantee?

Asked by Carlo, California Wed Sep 17, 2008

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Gregorio Den…, , San Diego, CA
Fri Jul 30, 2010
Yes, and you should find a CaLVet approved broker to do it for you. Any Broker listed on the CalVet site in California will be able to assist you.
0 votes
Debra Enos, Agent, Mission Viejo, CA
Fri Jul 30, 2010
I hope you found you home by now. Anyone using their VA, for their loans, please make sure that your lender is experienced with that type of loan. Ask them how many successful VA loans have they closed in the last year. There was a long period of time that the home market just didn't fit the lending limits on in many parts of California, much less the Long Beach area. But, with the current market that we are "experiencing" the VA loan is becoming a more popular choice for many home buyers.

Like the previous post said, the VA is guaranting the loan, not providing it.

I have a page on my website dedicated to our soldiers with links to various VA sites. If you are currently serving, have served in the past, and "some" civilian military may also qualify for a VA loan.

God Bless our Soldiers!
Web Reference:  http://debraenos.com
0 votes
Susan McLaug…, Agent, Torrance, CA
Wed Sep 17, 2008
Per the U.S. Department of Veterans Affairs:

A: VA guaranteed loans are made by private lenders, such as banks, savings & loans, or mortgage companies to eligible veterans for the purchase of a home which must be for their own personal occupancy. The guaranty means the lender is protected against loss if you or a later owner fail to repay the loan. The guaranty replaces the protection the lender normally receives by requiring a down payment allowing you to obtain favorable financing terms.

For more info on VA loans and requirements please visit:
http://www.homeloans.va.gov/faqpreln.htm
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