The Ins and Outs of VA Loans
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Va Loans for Vets provides and assists all veterans and active duty military with ALL of their VA Home Loan Financing Needs. Be a proud homeowner today. For more details call us at 480-351-5904 or visit our site http://www.valoansforvets.com/VA Loans for Vets7702 E. Doubletree Ranch Road, Suite 220Scottsdale, AZ 85258Phone: (480) 351-5904Email: [email protected]

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The Ins And Outs Of VA Loans

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The ins and outs of va loans

The Ins and Outs of VA Loans


The ins and outs of va loans

The Veteran’s Affairs Department of the U.S. government has offered guaranteed home loans for veterans for over 70 years.


The ins and outs of va loans

Both active duty military people and veterans can acquire financing to purchase homes through the VA home loan program.


The ins and outs of va loans

These mortgages offer benefits that make them a good option for many homebuyers.


The ins and outs of va loans

About the VA Guaranteed Home Loan


The ins and outs of va loans

VA home loans are guaranteed by the U. S. government.


The ins and outs of va loans

This guarantee means that, if you are unable to pay the loan, the government will ensure that the lending institution receives its payment.


The ins and outs of va loans

However, this guarantee of repayment is a desirable feature for lenders, who will be more inclined to provide the loan to the applicant.


The ins and outs of va loans

Most of the usual requirements for a loan apply, but the applicant must also provide documentation of their service record.


The ins and outs of va loans

Advantages of VA Guaranteed Home Loans


The ins and outs of va loans

Home buyers find that a home loan through the VA program offers a number of advantages:


The ins and outs of va loans

· No down payment is required if the price of the home does not exceed the appraised value.


The ins and outs of va loans

· Private mortgage insurance is not required, which keeps monthly mortgage payments low.


The ins and outs of va loans

· Closing costs may be paid by the seller of the property.


The ins and outs of va loans

· Closing costs are limited by VA rules.


The ins and outs of va loans

· No early payment penalty can be imposed.


The ins and outs of va loans

· The VA can offer advice and practical help if you have trouble paying for your home mortgage.


The ins and outs of va loans

Eligibility Requirements


The ins and outs of va loans

Applicants are required to provide a certain amount of documentation, just as they would for a conventional loan, such as:


The ins and outs of va loans

· Social security numbers and valid ID


The ins and outs of va loans

· Certificate of Eligibility that provides information on your current service, dates of previous service, discharge papers, or service benefits statements


The ins and outs of va loans

· Proof of employment, names of employers for the last two years. If self-employed, you must provide the last two federal income tax returns.


The ins and outs of va loans

· The last 60 days of statements from checking and savings accounts


The ins and outs of va loans

· The purchase contract


The ins and outs of va loans

· The appraisal of the property


The ins and outs of va loans

· Assurance that you will occupy the property yourself


The ins and outs of va loans

· Credit record


The ins and outs of va loans

· Credit card statements


The ins and outs of va loans

· Child care expenses


The ins and outs of va loans

· Corrections or clarifying information on negative credit reports


The ins and outs of va loans

Lending Institutions That Offer VA Loans


The ins and outs of va loans

Not all lending institutions offer VA home loans. However, many do, and these lenders may have departments or personnel who are trained in the special requirements of the VA program.


The ins and outs of va loans

The lending institution is not obligated to provide a loan to those who apply. However, these institutions understand that having the loan amount guaranteed by the government makes it an attractive risk.


The ins and outs of va loans

Refinancing A Home Through the VA Home Loan Program


The ins and outs of va loans

The VA loan program also has a method of refinancing home loans to make your mortgage more affordable.


The ins and outs of va loans

The Interest Rate Reduction Refinance Loan, often called the IRRRL, is a streamlined process that allows homeowners who have VA guaranteed loans to refinance at a lower interest rate, without having another appraisal or credit underwriting to qualify.


The ins and outs of va loans

Any costs of the refinancing can be rolled into the new loan, so that the applicant does not have to provide out-of-pocket money during the process. Both fixed rate and adjustable rate mortgages are available.


The ins and outs of va loans

Our VA Loan Specialist helps veterans obtain the loans they are entitled to.


The ins and outs of va loans

He served in the United States Marine Corps, and now devotes himself to the Veteran home buyer in the Phoenix area, fulfilling a passion of his while at the same time helping others achieve home ownership.


The ins and outs of va loans

Be a proud homeowner today.


The ins and outs of va loans

For more details call 480-351-5904

or visit the site www.valoansforvets.com


The ins and outs of va loans

VA Loans for Vets

7702 E. Doubletree Ranch Road, Suite 220

Scottsdale, AZ 85258

Phone: (480) 351-5904

Email: [email protected]


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