What exactly is a VA Mortgage Loan? VA Home Loans – An Invaluable Benefit

What exactly is a VA Mortgage Loan? VA Home Loans – An Invaluable Benefit

Advance Payment & Closing Expenses Assistance Tools

Investing in a true house may become more affordable than you believe.

A VA mortgage is really a benefit that is great armed forces workers after and during their solution. PrimeLending understands the significance of a “home base” for military and their loved ones and it is proud in order to help active and retired army utilize this item to generally meet their own requirements.

VA mortgage loans are partly assured (typically a quarter of loan value) by the U.S. Department of Veterans Affairs and provides the advantages that are following

  • No advance payment
  • Greater loan value
  • No personal home loan insurance coverage
  • Limitation on closing expenses
  • Choice for seller to pay for closing expenses
  • No penalty cost for very very early payoffs
  • Feasible VA support when you yourself have trouble with re re payments

Your property is our objective.

Have actually questions? Speak to your loan that is local officer next actions.

That is Eligible?

To have a VA mortgage loan, a job candidate must have a Certificate of Eligibility.

Chart 1: COE eligibility requirements
Qualifying Event Active Duty Veteran
Any Gulf War 24-month rule Post-Vietnam Vietnam
Active Duty Dates Any 8/2/1990 – Present 9/8/1980 – 8/1/1990* 5/8/1975 – 9/7/1980** 8/5/1964 – 5/7/1975***
Qualifying Event Veteran
Post-Korea Korean War Post-WWII WWII Nat. Guard & Res. (Gulf War)
Active Duty Dates 2/1/1955 – 8/4/1964 6/27/1950 – 1/31/1955 7/26/1947 – 6/26/1950 9/16/1940 – 7/25/1947 8/2/1990 – Present
Active Duty Service 181 cont. Continue reading “What exactly is a VA Mortgage Loan? VA Home Loans – An Invaluable Benefit”