BLOG 2012 - What is a VA Loan?

RealtorTraceyW

BLOG 2012

What is a VA Loan?

In 1944 Congress created the VA Loan Guaranty Program to help returning service members achieve the American Dream of homeownership. Since then, the Department of Veterans Affairs has helped more than 18 million service members purchase homes.

Myths

The VA will loan me the money to buy a house.

Anyone in the military can get a VA Loan.

Facts

Active Military and Veterans have to meet certain requirements to qualify for a VA Loan. Those who qualify will be issued a Certificate of Eligibility. A Certificate of Eligibility certifies that the potential borrower has a VA entitlement and is eligible to participate in the program. An entitlement is the amount of money the VA will guarantee on a loan.

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

In addition to obtaining a VA Certificate of Eligibility, you must meet the Lender requirements to qualify for a VA Loan. This includes, but is not limited to, Income Verification, Employment Verification, and Credit Check.

Of the nearly 25 million Veterans, less than 10% have taken advantage of this earned benefit. Don’t let your hard earned benefit go unclaimed. If you would like assistance obtaining a VA Loan contact me today.

I am here to help you GET RESULTS~CALL NOW!  Or visit the Virtual Appointment Center on my website www.RealtorTraceyW.com