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VA Loans

MILITARY AND VETERAN MORTGAGE LOANS

The VA loan is very similar to the FHA loan but is specifically provided to active duty military, veterans and certain military family members. This loan type is issued by a private lender and is guaranteed by the Department of Veterans Affairs. It provides lower closing costs, negotiable interest rates and 100% financing. VA Loans are available for home purchase, construction of a home and energy-efficiency home improvements.

You will be required to provide a certificate of eligibility (COE). Visit https://benefits.va.gov/benefits/ and apply for your COE.

WHY WE LOVE THIS

  • 100% Financing Available For Qualifying Borrowers
  • No First Time Homebuyer Requirements
  • Allows Seller Contribution to Closing Costs
  • May be Eligible for No funding Fee (ask your local Mortgage Loan Officer for more details)

MTG APP CHECKLIST

Here are some of the items you should gather for your pre-approval. You are not required to have all the documents on hand to submit your request for pre-approval and your mortgage advisor will guide you on what items are needed based on your circumstances.

 

  •  IDENTIFICATION
    You will need a U.S. government-issued form of ID, usually a State-issued Driver’s License.
  •  PAY STUBS
    You should have your most recent pay stubs or other earned income documentation for the last 30 days.
  •  BANK STATEMENTS
    The lender will need most recent two months of official bank statements, which include the account number(s) and any blank pages.
  •  FEDERAL TAX RETURNS AND W2’S/1099’S
    You may be asked to provide your tax filings and W2’s /1099’s for the last two years for all forms of income you received (earned income, self-employment, etc.)
  •  RETIREMENT BASED INCOME
    If applicable, provide income documentation for any retirement pensions, annuities or Social Security.
  •  DISABILITY BASED INCOME
    If applicable, also include proof of income from worker’s compensation, State Disability, Social Security Disability or private settlement.

 

You won’t need to supply a credit report. With your authorization, we will pull your credit report, free of charge.

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