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VA Loans
As a seasoned Mortgage banker, I can assit you easily in getting all your questions regarding VA financing answered and provide you with all your VA financing needs.
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You will need a Certificate of Eligibility from the armed services. A veteran who doesn't have a certificate can obtain one easily by completing VA Form 26-1880.
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, serving a minimum number of days as established by Congress.
Do you have more eligibility Questions
Answers to commonly asked questions about VA loan eligibility. - Just ask I'll get the answers you need right away.
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.
VA Loan Purposes
To buy a home, build a home, simultaneously purchase and improve a home, etc...
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.
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VA Loan Costs
A basic funding fee of 2.0 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.
Restoration of Entitlement
Veterans who had a VA loan before may still have "remaining entitlement" to use for another VA loan.
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