VA loans, or more appropriately termed "VA Insured Loans" are loans where the Veteran's Administration insures the lender against any losses the lender may incur due to default. VA loans are only available to veterans possessing a Certificate of Eligibility, or generally speaking, almost all active duty and honorably discharged service members are eligible. Here are a few other options for eligibility of a VA loan. You may be eligible if any one of the following are true:
· Served 181 days during peacetime (Active Duty)
· Served 90 days during war time (Active Duty)
· Served 6 years in the Reserves or National Guard
• You are the spouse of a service member who was killed in the line of duty.
If you qualify for a VA loan, you may still need some credit repair help to actually get the loan. VA loans may not look specifically at your credit score, but they do look at your history for the past 12 months to make sure you haven't had any late payments or other delinquencies during that time. If you find that you qualify for a VA loan, but are having issues with late payments, call Vitesse Financial for assistance. We will work to repair your credit so that you can buy that home you've always dreamed of.
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