Arvada VA Loans
This is some great info on VA loans. It could really help those out there looking for them. Check it out and let us know what you think. Thanks RJ
We specialize in Arvada VA Loans and can help you save money when you buy a home through the Colorado Home Buyer Tax Credit!
What is the Colorado Home Buyer Tax Credit? It is a program that most VA home buyers can qualify for, that will give you a direct tax credit every year for the life of your loan! It's like getting an average of $150/month off your mortgage payment.
First, you need to make sure you qualify for Arvada VA Loans. The first step is to obtain your Certificate of Eligibility, or COE. We can help you get this, all you need is your DD214, and we can obtain it fast, usually the same day. The COE will confirm your VA loan benefits.
From there, you must apply for the VA loan. This involves filling out a loan application and going through a credit check (don't worry, VA is lenient on credit requirements), and providing some supporting documentation such as paystubs (or LES if active), W2s, and bank statements. Once reviewed, we can issue to you a pre-approval letter, or in the case of a refinance, get the process officially going by sending out loan disclosures to you.
So what about this tax credit? How do you qualify for that? Basically, if you qualify for the VA loan, that's the first step. The second factor is if you fall under the income limits for Arvada VA Loans, as set forth by the Colorado Housing Finance Authority. The income limits are generous, but do include everyone in the household, not just those who are on the mortgage.
If you qualify, you must take a home buyer education class through CHFA, and your VA lender must submit an application through CHFA to get the tax credit.
Once you are approved and close on your new home, the tax credit is something that you claim each year on your taxes. Here's an illustration of how it breaks down:
Give us a call in the office, we are standing by to answer your questions about Arvada VA Loans, and can also help you determine if you qualify for the Colorado tax credit!
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