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Veteran Home Loans







The more you know about getting a VA loan, the more you will realize how little red tape there really is in using this mortgage to buy or refinance a home.
 
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VA Loan Facts

What is a VA Loan?
VA Lending Limits
VA Loan Closing Costs
Debt to Income Ratios
VA Funding Fee
VA Credit Issues
The Law on Occupancy
Co-signors or Joint Loans
VA Condo Loans
Your VA Loan Checklist
VA Jumbo Loan



VA MORTGAGE CHECKLIST

Before you start the loan process, you'll need to have some information at hand for all loan applicants:
  1. Social Security numbers
  2. Residence addresses for the past two years
  3. Names and addresses of your employers over past two years
  4. Your current gross monthly salary
  5. Names, addresses, account numbers and balances on all checking and savings accounts
  6. Names, addresses, account numbers, balances and monthly payments on all open loans
  7. Addresses and loan information of other real estate owned
  8. Estimated value of furniture and personal property
  9. Certificate of Eligibility and DD214, (for veterans only)
  10. W2's for the past two years and current check stubs
  11. For self-employed individuals, you will need to provide personal tax returns for the past two years, current income statement and balance sheet for the business
In addition, you will need to pay for a credit report and appraisal of the property.



What is a VA Loan?
VA Lending Limits
VA Loan Closing Costs
Debt to Income Ratios
VA Funding Fee
VA Credit Issues
The Law on Occupancy
Co-signors or Joint Loans
VA Condo Loans
Your VA Loan Checklist
VA Jumbo Loan



FREQUENTLY ASKED QUESTION # 11   [ -more VA Loan questions- ]
- - - - - -
Q: Get Pre-Approved / Should I get a pre-approved loan?

A: Obtaining pre-approval for your VA loan amount is an excellent time-saving step. Once you know the exact amount you're eligible for in your VA home loan, you can begin searching for a home as a 'serious buyer'. You'll know in advance exactly what you can afford and what is outside your price range. It's the kind of security you'll be grateful for as you search for the best value for your money. With pre-approval, you avoid wasting time with property that's out of your price range or sellers who are unsure whether you mean business.


VA Loan Rates
for 7/04/2009


30 year fixed
-----------------
0.000 points
5.500%
5.610% APR

15 year fixed
-----------------
0.000 points
5.500%
5.686% APR



Serving the military community with personal loans from $500 to $10k.

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Montgomery GI Bill benefits can get you started:
University of Phoenix
- AIU Online
- Capella University
- DeVry University
- Kaplan University
- Westwood College
- The Art Institutes
- Strayer University
- Walden University
- Virginia College
- Grand Canyon U.
- Grantham Univ.
- Jones Int'l Univ.
- South University
- Ellis College
- CTU Online
- Baker College



FHA Refinancing
Refinance with
an FHA loan FHA lenders provide an effective way to put your home equity to work.



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VA Home Loans 101
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Learn more about the different types of loans we offer from the VA and FHA government sites.