VICTORIA MORALES
Victoria Morales
985-302-1085985-302-1085

The Home Buying Process for Veterans

WHAT IS A VA GUARANTEED LOAN?

A VA-guaranteed loan can be used to:

• buy a home, either existing or pre-construction, as a primary residence

• refinance an existing loan

BENEFITS OF A VA GUARANTEED LOAN:

• Equal opportunity for all qualified Veterans to obtain a VA loan

• Reusable

• No down payment (unless required by the lender or the purchase price is more than the reasonable value of the property)

• No mortgage insurance

• One time VA funding fee that can be included in the loan

• Veterans receiving VA disability compensation are exempt from the VA funding fee

• VA limits certain closing costs a Veteran can pay

• Can be assumed by qualified persons

• Minimum property requirements to ensure the property is safe, sanitary, and sound

• VA staff dedicated to assisting Veterans who become delinquent on their loan

WHO IS ELIGIBLE?

Generally, the following people are eligible:

• Veterans who meet length of service requirements

• Servicemembers on active duty who have served a minimum period

• Certain Reservists and National Guard members

• Certain surviving spouses of deceased Veterans

Note: There are other groups of individuals who may be eligible.

To determine your eligibility, check eBenefits or contact VA Eligibility Center at 1-888-768-2132.

Click the link below for more information!

http://www.benefits.va.gov/homeloans/resources_veteran.asp