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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 ... more

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