Veterans and Service Members – Stop Renting and Start Owning!
When you are a Veteran or Active Duty Service member, your ability to become a homeowner gets a little easier. Because the federal government backs VA Loans, eligible Veterans and Service Members can generally find mortgage rates that are lower than a conventional loan. Contact us if you are ready to get pre-qualified right now.
Multiple VA mortgage products, often with a no money down option.
One of the biggest benefits for being a Veteran is getting assistance in purchasing your home. VA Housing Related Benefits Include:
- Being able to purchase at a competitive interest rate, often without a down payment
- No private mortgage insurance premium
- VA rules limit amount you can be charged for closing costs
- No penalty to pay off loan early
- Interest Rate Reduction Refinance Loan (IRRRL)
- Native American Direct Loan (NADL)
- Adapted Housing Grants for those with certain permanent disabilities.
VA Home Loan Assistance — Where To Start
Your first step is to obtain your Certificate of Eligibility (COE). For a Veteran this would be the DD214 Form. VA Loans are then obtained through a lender of your choice. You can expect these steps during your VA home buying process:
- Confirm VA eligibility
- Find a Real Estate Agent
- Get Appraisal / Inspection
- Pay the VA Funding Fee
Your VA benefits can get you a fixed interest rate and 100% Loan-to-value and mortgage closing cost assistance. Through the California Housing Finance Agency VA program there are also additional benefits for School Teachers and Employees. A Home Buyers Assistance consultant can help you navigate the VA Home Loan process and requirements so you can decide which loan works for you.
We have provided links to the government VA website below for all the details on obtaining the correct COE for your circumstances.
Home Buyers Assistance consultants can answer your questions and help your get started with the pre-approval process and confirming your VA eligibility. No need to wait, you can get started on your VA loan application today. Call or text Jim Langdon at 916-717-5626, or you can send him an email.
What makes a VA Loan different from other home loans?
Only Service members, Veterans and eligible surviving spouses can utilize one of the housing-related VA benefit programs to help buy, build, repair, retain or adapt a home for their own occupancy. You will need to show a Certificate of Eligibility before the loan process can begin.
VA Home Loans are provided by private lenders, such as banks and mortgage companies. The VA guarantees a portion of the loan, enabling the lender to provide you with more favorable terms.+
Lenders must follow VA standards when making VA-backed home loans. They may also require meeting additional standards before giving you a loan. These standards may include having a high enough credit score or getting an updated home appraisal (an expert’s estimate of the value of your home).
This podcast from VA.gov breaks down your Veteran’s benefits
Borne The Battle #150: Benefits Breakdown – 75th Anniversary of the VA Home Loan Program
Contact Jim to get started on your VA loan pre-approval today.
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