Tip #1

In order to qualify for the VA loan, you should have served in the Air Force, Army, Navy, Coast Guard or Marine Corps. Additionally, you should have served for a certain period. If you have served during the war time, it is essential that you have served for at least ninety days. If you have served during the peacetime, you should have served at least one hundred eighty-one continuous days. Additionally, you should have not been discharged dishonorably.

 

Tip #2

You will be eligible for the VA loan for other conditions as well as long as you are eligible as determined by the VA. You may qualify if you have been dismissed because of disability, which resulted from rendering your services or when the government authorizes it for its convenience. However, all of this has to be properly determined first.

 

Tip #3

There are different people who can benefit from this type of loan. Aside from the military personnel and the veterans, the surviving spouse of the deceased qualified personnel can also avail of this. The surviving spouse should remain unmarried in order to be eligible. Many want to avail this type of loan not only because of the fixed rates but also because of the fact that it guaranteed by the U.S. Department of Veteran Affairs.

 

Tip #4

You will be able to know if you are eligible by applying for a Certificate of Eligibility. Go to http://www.benefits.va.gov/homeloans/eligibility.asp to obtain your Certificate of Eligibility.

 

Tip #5

More information about the VA home loan process can be found at http://www.benefits.va.gov/homeloans/

 

For more information on VA home loans or eligibility, credit, or qualifying, please call Warren Whitaker at 972.523.8353 or email Warren@LendHome.com.

Resources

Home Loan Guaranty Services – U.S. Department of Veterans Affairs

Eligibility for the VA Home Loan Program – Loan Guaranty Home 

Information on the Home Loan Program – Veterans Benefits 

VA Home Loans – A Quick Guide For Homebuyers and Real Estate 

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