VA Loans For Qualified Veterans

If you are a veteran of the US Armed Forces, a grateful country thanks you.  There have been many remembrances of past American battles lately that demonstrate the need for greater recognition of the sacrifices and patriotism involved in military service.  There is an old saying I learned long ago that says, "Freedom ain't free...there is a price to be paid for it." The danger to freedom isn't only when there is a war or conflict going on. Combating that danger to freedom is a constant and vigilant job that goes regardless of whether or not bullets fly.  It is an honorable and necessary function that is valuable in ways that should be understood by every American. All the world looks to the us as a democratic ideal. The price for that democratic ideal is paid for by the blood, sweat, and tears of those in uniform.

  • Five Steps to a VA loan.  Apply for a Certificate of Eligibility.
    A veteran who doesn't have a certificate can obtain one easily by completing         VA Form 26-1880, Request for a Certificate of Eligibility for VA Home Loan Benefits and     submitting it to one of the Eligibility Centers with copies of your most recent discharge or separation papers covering active military duty since September 16, 1940, which show active duty dates and type of discharge.
  • Eligibility Requirements  Veterans who served on active duty and were discharged under conditions other than dishonorable, during World War II and later periods are eligible for VA loan benefits.
  • Eligibility Questions  Answers to questions about Certificated of Eligibility and how to apply.
  • VA Financing Benefits  More than 29 million veterans and service personnel are eligible for VA financing. Even though many veterans have already used their loan benefits, it may be possible for them to buy homes again with VA financing using remaining or restored loan entitlement.
  • Obtaining a VA loan  The CRV (certificate of reasonable value) is based on an appraiser's estimate of the value of the property to be purchased.
  • VA Loan Costs  A basic funding fee of 2.15 percent must be paid to VA by all but certain exempt veterans. A down payment of 5 percent or more will reduce the fee to 1.5 percent and a 10 percent down payment will reduce it to 1.25 percent.  Funding Fees for members of the Reserves and National Guard are slightly higher.
  • Restoration of your VA Entitlement  Veterans who had a VA loan before may still have "remaining entitlement" to use for another VA loan. The current amount of entitlement available to each eligible veteran is $36,000.
  • VA Loan Questions and Answers  Question:  Can I get a VA loan if I have had a bankruptcy in the last few years?
    Answer:  VA credit standards state that a veteran with a bankruptcy less than 3 years ago would generally not be considered a satisfactory credit risk unless    :
     

VA Warning Order
  1. Mission:
    Buy a new home, mobile home, or refinance existing with VA loan
    guarantee and 0% down.
  2. Situation:
    Locate new home and purchase or build.
  3. Concept of Operations:
    A. Maneuver (Pre-Qualify for Mortgage)
    B. Recon Terrain (Find a House or Mobile Home to Buy or Build)
    C. Seize Objective (Pre-Qualify Process Loan)
    D. Defend Perimeter (Close the Loan)
    E. Advance on New H.O.R. (Move in New Home of Record)
  4. Command and Control:
    YOU, All Military Members - Guard, Reserve, Active Duty, Retired,
    and Veterans.
  5. AAR / After Action Review:
    Sit back in your new home with a smile on your face.

  6. Additional Instructions:
    Let us help you get the "most" out of your VA loan.


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