A VA loan is a mortgage guaranteed by the U.S. Department of Veterans Affairs. It is available to military veterans as well as active armed services personnel.
• VA loans are a great mortgage option for members of the armed services, since they require little to no money down
• VA loans also offer competitive rates and carry a no Private Mortgage Insurance requirement
• In addition to typical financial documents that would be required for other loans, VA loan applications also require a Certificate of Eligibility, which helps determine how much loan you qualify for
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Chris: A VA loan is a loan that gives the members of our armed services a great mortgage option with little to no money down.
Marie: Initially we did a lot of research on rates, different offers.
Mandy: We started talking to a banker cause our realtor had recommended someone. She knew about my previous military history, and she recommended, ya know, you should use your VA loan, it’s a good loan for people.
Greg: You can be actively serving the country in the military or you can also be a veteran.
Chris: One of the things we have to get is a COE, or a certificate of eligibility. OK, that’s gonna really tell the tale of what they are eligible for and things like that.
Greg: And then you also need your W2s, paystubs, bank statements, ya know the basic income information that we would need to qualify you.
Chris: The bigger perks are, you can do a VA loan with no money down, as long as, you know, you’re entitlement’s there. And there’s no PMI on a VA loan.
Greg: It makes it real what we do to help people buy homes and these are real people. Because when you take a step back and you help a veteran like that’s been serving our country is just the most joyous transaction you can be a part of.