VA Loans: What They Are and Who Qualifies
Last updated 10 hours ago
VA loans are loans that are underwritten by the US Department of Veteran Affairs, designed to allow veterans to obtain a mortgage loan. Denver military personnel, either active or retired, may qualify to participate in this home loan program.
These types of home loans assist veterans who wish to finance a home but face difficulty securing a private loan. They usually do not require a down payment and carry no mortgage insurance premiums. There are 3 ways that you can qualify for a VA loan:
- If you are a veteran who is either on active duty or has served on active duty in the past.
- If you are a veteran who has never served on active duty, but was on reserve for active duty or a member of the National Guard reserve.
- If you are a surviving spouse of a veteran who meets the criteria for this type of eligibility, provided that you have not remarried.
If you want to apply for a VA home loan in Denver, then you’ll need to find a lender that participates in the program. You’ll also need to obtain a certificate of eligibility from the US Department of Veteran Affairs that proves you are qualified to take out this type of loan.
If you are applying for a VA loan as a surviving spouse, then the death must have occurred while the serviceman was on active duty or their disability resulted directly from a service-related occurrence. These types of home loans can be a big help for military personnel and their families, but it is important that all of the appropriate steps are taken to avoid voiding your eligibility.
If you are interested in a VA loan, then Derrick Strauss and the staff here at American Home Funding can help. We’ll show you how to pre-qualify, help you through the required paperwork, and even have tools like a loan calculator for Denver residents to use. Contact us today to learn more about obtaining a VA home loan.
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Wednesday, February 9, 2011
VA Loans: What They Are and Who Qualifies - American Home Funding, Greenwood Village, CO
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