If you are a first time home buyer, owner of many homes, or if you had a recent foreclosure or bankruptcy, you may apply for a VA loan. VA loans are available to borrowers with all credit types.
VA home loans are not based off of your credit score. If you meet the criteria, you can get as many VA loans as you want. However, you can only have 1 open VA loan at a time. VA home loans can be used to purchase a home in any US territory or state. Almost any home will qualify for the program. The following types of homes qualify for VA loans: existing single family home, (house, duplex, triplex, fourplex) townhouse or condo, new construction residence and manufactured homes with a permanent foundation; just to name a few.
Is it hard to qualify for a VA Home Loan?
VA Home Loan qualifications are sometimes easier than a conventional loan. Among the advantages of the loan program, the VA loan offers $0 money down, no prepayment penalty, and interest rates lower than conventional home loans.
How do I know if I qualify for a VA Home Loan? Most people have no idea that they actually DO qualify. There are many different criterias for qualifying for a VA Home Loan. If you are or were on active duty in a branch of the U.S. military services (US Army, USMC Marine Corps, US Navy, USAF Air Force, Coast Guard) for the required amount of time or if you were (or have been) a Selected Reserve Service Member (including National Guard) for a minimum of 6 years or more. Also there is eligibility by being a surviving spouse of a deceased veteran (who died during service or as result of a service disability). If you have not remarried, then you can qualify for the VA Home Loan. If you have remarried and did so over the age of 57 or after the December 16, 2003, you may alo9s be eligible for the home loan guarantee.There is eligibility for the spouses of service members who are missing in action or are prisoners of war or you can claim your eligibility by being a Native American service member who meets the other service qualifications, and wants to buy, improve or build a home on trust lands. If any of these pertain to you, then you may qualify for a VA Home Loan.
Getting a VA loan is easy. Congress has established laws that govern VA loans and the VA loan guarantee. Contact a VA HLC representative to get started.
VA home loans are not based off of your credit score. If you meet the criteria, you can get as many VA loans as you want. However, you can only have 1 open VA loan at a time. VA home loans can be used to purchase a home in any US territory or state. Almost any home will qualify for the program. The following types of homes qualify for VA loans: existing single family home, (house, duplex, triplex, fourplex) townhouse or condo, new construction residence and manufactured homes with a permanent foundation; just to name a few.
Is it hard to qualify for a VA Home Loan?
VA Home Loan qualifications are sometimes easier than a conventional loan. Among the advantages of the loan program, the VA loan offers $0 money down, no prepayment penalty, and interest rates lower than conventional home loans.
How do I know if I qualify for a VA Home Loan? Most people have no idea that they actually DO qualify. There are many different criterias for qualifying for a VA Home Loan. If you are or were on active duty in a branch of the U.S. military services (US Army, USMC Marine Corps, US Navy, USAF Air Force, Coast Guard) for the required amount of time or if you were (or have been) a Selected Reserve Service Member (including National Guard) for a minimum of 6 years or more. Also there is eligibility by being a surviving spouse of a deceased veteran (who died during service or as result of a service disability). If you have not remarried, then you can qualify for the VA Home Loan. If you have remarried and did so over the age of 57 or after the December 16, 2003, you may alo9s be eligible for the home loan guarantee.There is eligibility for the spouses of service members who are missing in action or are prisoners of war or you can claim your eligibility by being a Native American service member who meets the other service qualifications, and wants to buy, improve or build a home on trust lands. If any of these pertain to you, then you may qualify for a VA Home Loan.
Getting a VA loan is easy. Congress has established laws that govern VA loans and the VA loan guarantee. Contact a VA HLC representative to get started.
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