VA Loan Eligibility Lee's Summit MO

VA Loan Eligibility Lee's Summit MO

VA home loans are becoming even more popular than ever these days. Especially since many of our troops are returning from active duty in places like Afghanistan.The VA Loan is a home mortgage espcecially created to help soldiers (or those who have an honorable discharge) purchase a home. VA loans require ZERO down-payment, and has the added benefit of NO PMI (a monthly mortgage insurance fee). Because the loan is a 0 down payment loan that means it offers 100% financing.

If you're looking into buying a home whether it's your first time or you're a veteran home buyer we would encourage you to look into a VA home loan. If you're not sure how to get started, here are some tips on your VA Loan Eligibility Lee's Summit MO requirements:

1. Obtain a certificate of eligibility (COE) for a VA Loan (or a DD214)

 Each applicant must show proof that they are either current or retired military. A veteran can request the certificate themselves, or a loan company can do that for them through an automated certificate eligibility system.

 2. To apply for a VA loan, clients must either have received a discharge (except a dishonorable discharge) or be Active Service Personnel.

 3. For Active Duty veterans discharged during or after WWII, Korean or Vietnam wars you must have at least 90 days of active duty.

 4. For Peacetime Veterans or active personnel you must have at least 181 days of continuous active duty.

 5. If you were enlisted service after 1980, he/she must have completed at least 24 months of continuous active duty or the full period (at least 181 days) for which they were ordered or called to active duty.

 VA home loans offer great advantages to veterans as well such as zero down payments, competitive interest rates and relaxed qualifying standards. Learn more about VA home loans today, or get started and pre-qualify for your VA loan or if you need any help with your VA Loan Eligibility Lee's Summit MO let us know!

If you're in the Kansas City area, call my office at (816) 268-4025 to have local mortgage consultant help you obtain a VA loan or apply online with our safe and secure website.