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How do I use my VA Home loan?

by jrloves1869 from Topeka, Indiana. Jun 21st 2017 Reply


Steven Brand (StevenBrand)
#4 ranked lender in Minnesota - 92 contributions

First: THANK YOU FOR YOUR SERVICE.Secondly: if you contact a licensed "purchase" lender or "mortgage guy" (of which I am one who has been doing loans for over 16 years)... they will be able to verify your entitlement through the VA. If a lender tells YOU to go get your COE (certificate of eligiblity)... they're being lazy. Entitlement is your ability to use your VA home loan.Third: The "mortgage guy" will confirm your "eligiblity" for buying a home (the standard credit, income and assets). Some assets are still required in all purchase transactions for your Earnest Money and also inspections are recommended but not required. But if structured correctly with a good Realtor... you should be able to get into a home with really "less than $1000".Fourth: Your "mortgage guy" can refer you to a "Veteran friendly Realtor" to help you find a home after your full Pre-Approval.How's that for step by step?Steve@MilitaryMortgageGuru.com or 844-VA-Steve (827-8383)

Jun 21st 2017
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Scott Swinford (scott@nwiloanguy.com)
#16 ranked lender in Indiana - 18 contributions

Thank you for your service. We all appreciate the sacrifices you have made for us.This is why the VA loan exists! The first thing you want to do is check your Certificate of Eligibility to make sure that you are eligible for the VA program. It's pretty easy and takes me just a minute or two. Next, we would check income and assets, etc. to make sure you qualify for the loan amount you desire - or we can give you an idea of what price range to look in based on your financials. Once everything looks good mortgage wise, we can help introduce you to an agent who knows how to structure the purchase so that you have very little out of pocket. We're all on the same team here and want to make this as simple and pain-free as possible. If you want to chat, feel free to reach out to me at 219-695-0369 or visit my website at www.nwiloanguy.com.

Jun 21st 2017
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Steven Brand (StevenBrand)
#4 ranked lender in Minnesota - 92 contributions

The knowledge of the 2 of us who've answered you is very deep... and we know what we're talking about. Between myself (16 years) and Scott Swinford (12 yrs)... please reach out to one of us and we will make sure you are WELL taken care of. Scott is local and I'm certified with 3 Veteran Mortgage organizations and an Instructor with one.

Jun 21st 2017
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,483 contributions

It's easy. Simply apply with a VA lender licensed in your state. The only thing 'extra' above and beyond any other mortgage loan is you'll need your VA Certificate of Eligibility(COE). Any good VA lender will obtain that for you (I do it all the time). Assuming you are VA Eligible, you can buy a home in Indiana up to $424,100 with no down payment required, and roll the closing costs into the loan. If the home is over that amount, you'll need some down payment. VA loans are awesome, and hands down, the best loan in the market for our military personal. For VA loans in WI, MN, and SD, visit my VA website at www.VAMortgageMN.com

Jun 22nd 2017
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 7,874 contributions

The best advice I can give you is to contact a mortgage bank/broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with a Banker/Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the banker/broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the big box banks. I'm a preferred Lender with Arizona and California being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Jun 22nd 2017
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