Moving in Clarksville>Question Details

Barbara, Renter in Clarksville, TN

My husband is a disabled veteran. We are trying to get back on our feet from terrible renting experiences.

Asked by Barbara, Clarksville, TN Fri Mar 1, 2013

I know that there is an option to apply for a VA home loan, but whenever I bring it up it's a "touchy subject". I know that there are veteran advocates out there who are able to explain this to me, but right now this is my only option. If anyone knows anything about getting a VA home loan started please enlighten this beyond frustrated wife and mother.

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First you need husbands certificate of eligibility from the VA. Lenders like VA as it is insured by the gubbermint, (intentional misspelling) for all those that hate the federal govt getting in the business of approving loans.
1 vote Thank Flag Link Sun Mar 17, 2013
Good Morning Barbara,

I am sorry that you have had some bad experiences renting in the past....looking to purchase a home using your husband's VA might be a good option for you. You had stated that you were trying to get back on your feet so I am not sure if you have have some credit issues or financial obligations you are trying to take care of. I know that anytime some is disabled being on a fixed income does not allow for any "hiccups" in life. I think it would be best to set and talk with a lender about your options, buying vs. renting, benefits of a VA Loan (your husband will not have to pay a funding fee since he is disabled), etc. There are many good VA lenders out there....some have "tighter" underwriting guidelines than others. Feel free to email, call or text me with any questions you may have and I will try to help you anyway that I can.

1 vote Thank Flag Link Sun Mar 3, 2013
Hi Barbara,
Just about any mortgage lender is able to help you and your husband with a VA guaranteed home loan. If your husband is receiving a VA disability payment, the loan will not require the VA funding fee which is a small percentage fee usually rolled back into your mortgage. A mortgage lender will be able to look at your husband's credit and income and determine how much of a mortgage you will be able to qualify for. I suggest you talk to a mortgage lender in the area where you plan to purchase, a lender who is familiar with the area and whose office you can go to and sit face-to-face to discuss your situation. You might want to check with your local DAV, American Legion or VFW to see if they have brochures or can help explain the process and guide you in the steps to obtain a VA guaranteed mortgage loan. I wish you well . . .
1 vote Thank Flag Link Sat Mar 2, 2013
Hi Barbara-
a VA loan is an option for any veteran or active duty service member who has been in the service a minimum of time. VA loans are not granted and funded by VA, they are funded by a mortgage bank that works in conjunction with VA. VA guarantees the bank the upper 25% portion of the loan in the case the home owner goes into default. Therefore it is less of a risk for the lender.
If you would like more information on how to get the process started or more details information on the VA loan process itself, you can give me a call and we can discuss it in more detail.
My name is Ute Bennett, I am a Realtor with Keller Williams-Clarksville, Tn and my contact number is 931.216.2122 or you can email me directly at
1 vote Thank Flag Link Sat Mar 2, 2013
“Touchy subject” implies to me that your husband doesn’t want to apply for a mortgage or perhaps doesn’t want to buy a home. Terrible renting experience“s” is also vague. If you were late or defaulted on a lease(s) that is an issue on any type of mortgage application, even VA. You and your husband should chat first to make sure you are on the same page, then visit a loan officer together to see what options are available.

Good luck,

Jim Simms
NMLS # 6395
Financing Kentucky One Home at a Time
Web Reference:
1 vote Thank Flag Link Sat Mar 2, 2013
VA home loans are very prevalent in Clarksville - most lenders are capable of originitaing them. Contact Lamar Clift at 931.245.6729 - I'll suggest a few lenders for you to contact.
1 vote Thank Flag Link Sat Mar 2, 2013
VA helps Servicemembers, Veterans, and eligible surviving spouses become homeowners. As part of our mission to serve you, we provide a home loan guaranty benefit and other housing-related programs to help you buy, build, repair, retain, or adapt a home for your own personal occupancy. VA Home Loans are provided by private lenders, such as banks and mortgage companies. VA guarantees a portion of the loan, enabling the lender to provide you with more favorable terms.
1 vote Thank Flag Link Sat Mar 2, 2013
f your credit is less then perfect, here are a few things you can do to adjust your score and become more favorable to a lender.
Pay off all past due balances and charge-offs that have occurred within the past two years. Charges older then two years have little effect on your current credit score.
Don't close existing credit card accounts, even if you do not use them. A portion of your credit score is based on your credit history and leaving them open gives you the benefit of the history they represent.
While it might not be possible to pay off all credit cards, it might be possible to adjust the debt on some of them so you keep your debt below 30% of the available credit on each card. If not, see if the credit provider will increase the amount of credit so your balance is below 30% of the limit.
Obtain your credit report at least a month in advance of applying for a loan. If you have items showing up on your credit report that you know have been paid, request that these items be removed. Credit bureaus normally work to fix the report within 30 days if a request is made.
If a married couple applies for a loan and one spouse has better credit than the other, that individual can be designated as the sole borrower on the loan, but ownership of the home can still be put into both names. Doing this could decrease the interest rate, but it could also change the amount you will be approved to borrow.

Joel Lobb (NMLS#57916)
Senior Loan Officer
502-905-3708 cell
502-813-2795 fax

Key Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*
Louisville, KY 40222*
0 votes Thank Flag Link Fri Apr 12, 2013
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