VA Home Loans - 100% Financing
The VA Loan is a mortgage loan issued by approved lenders and guaranteed by the U.S. Department of Veterans Affairs (VA). The United States created the program to help service members who didn't have excellent credit or down payment money to purchase a home.
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Top 3 VA Loan Advantages: No Downpayment - 100% Financing |
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Step 1: Determine If You Are Eligible
You may Quality for a VA Loan if you meet one or more conditions:
- You have served 90 consecutive days of active service during wartime, OR
- You have served 181 days of active service during peacetime, OR
- You have more than 6 years of service in the National Guard or Reserves, OR
- You are a spouse of a service member who has died in the line of duty or as a result of a service-related disability.
Step 2: Get Started With The Pre-Approval Process
To find out if you are approved to purchase a home the next step is to find a Mortgage Loan Officer. A loan officer will pull your credit, view your financial documents and issue a pre-approval letter stating what home loan amount you qualify for and knowing that will help your Real Estate Agent find that perfect home in your price range.
Step 3: Certificate of Eligibility
After establishing that you are eligible, you will need a Certificate of Eligibility (COE). The COE verifies to the lender that you are eligible for a VA-backed loan.