We are very happy when we get a call from a qualified veteran looking to purchase or refinance their home using their VA benefits. First off, thank you for all those who have served. Being a fellow veteran helping other qualified veterans learn the benefits of a VA loan and providing them with the best mortgage available gives me great gratification.
Purchasing a home is an exciting and rewarding time but it can also be stressful and confusing. Many of us have difficultly in saving a down payment and coming up with 20% feels like an impossible feat, more less even 5%. The benefit of VA loans allows for a no down payment and at times no closing costs as well as no mortgage insurance. Yes, there is a VA funding fee (which some veterans may be exempt) but this fee can be rolled into your loan and is what goes towards a “pool” of funds which is what allows VA to keep rates low and assist with your fellow veterans to take advantage of the same VA benefit you are acquiring.
Your lender will need a certificate of eligibility (COE), here is a link that can assist you in obtaining a copy of your certificate of eligibility. Your lender can also request your COE but this can take some time and if you are needing to get pre-approved quickly it helps your lender tremendously if you can have your COE ahead of time.
Again, VA loans are the best loans out there, if you would like to learn more about them and are a qualified veteran please give us a call. *Please know that if you are in need of a Jumbo loan you can still use your VA benefits, make sure to ask us how.