Why Your Local VA Loan Specialist Is Your Best Bet

Louieabastar

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• Publié par: garydavidwilliams
• Publié le: 12 janvier 2016
• Nombre de lectures: 1
• Langue: English

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Why Your Local VA Loan Specialist Is Your Best Bet

The VA guaranteed home loan program has provided home loans for veterans and active duty service members for over 70 years.

This program offers a number of advantages for military members and has desirable features for lenders, as well.

The application process for a VA guaranteed loan is different than that required for a conventional mortgage loan.

A local VA loan specialist can help to facilitate the application process so that you can enjoy your new home sooner.

VA Guaranteed Loan Requirements

The VA home loan program has a number of specific application requirements:

· The applicant must be eligible for a VA home loan. Eligibility is determined by length of service, discharge status and credit record.

· A Certificate of Eligibility is required. This document uses specific forms, such as the DD Form 214, NGB Form 22, NGB Form 23 or VA Form 26- 1817, depending on circumstance. Your VA loan specialist will have more information on the necessary documents.

· You must provide a good credit record. However, applicants who had financial problems in the past may still qualify for a VA guaranteed loan after a period of time has passed.

· An appraisal of the property is required to ensure that the home is worth the loan amount.