Vets, I want you!

By
Real Estate Agent

Being a real estate broker and the proud mom of an army daughter currently serving in Iraq, I would like to help all Vets get access to the benefits they are entitled to.  One of those benefits is a VA loan and the American dream of home ownership.

Veterans, did you know that you can get a VA-guaranteed loan to purchase a home, condominium or manufactured home, the VA can guarantee up to $417,000 of the total loan -- much higher than you can get with most conventional home loans. 

A VA home loan can help veterans:

  • Buy a home or residential condominium
  • Build a home
  • Repair, alter or improve a home
  • Refinance an existing home loan
  • Buy a manufactured home with or without a lot
  • Buy and improve a manufactured home lot
  • Install a solar heating or cooling system or other weatherization improvements
  • Purchase and improve a home simultaneously with energy efficient improvements
  • Refinance an existing VA loan to reduce the interest rate
  • Refinance a manufactured home loan to acquire a lot

In order to obtain a VA home loan, you must first fill out VA Form 26-1880, the request for your Certificate of Eligibility. This certificate is issued only through the Veterans Administration, and is the first step towards applying for your loan. Veterans, active duty, guard or reserve, and military spouses potentially qualify for this certificate. 

You will also want to make sure that your credit history is in order and satisfactory.  You are entitled to a free copy of your credit report each year.  Check it out and make sure it is correct.  There are steps you can take to get your credit in order and there are companies out there that will help you do that.

You will also need to find a qualified lender.  Next step will be to get pre-qualified for a loan so you know exactly how much you can afford and what price range of house you will qualify for.

Vets, if you are in the Albany, Corvallis, Salem or Mid-Willamette area, let me help you get into your first home.

 

 

Comments (12)

Margaret Oscilia
Creative Concepts-Home Staging and Contracting, Salem Oregon - Salem, OR
Home Stager, Salem Oregon

Congratulations proud mom on your daughter's sacrifice and service for her country!  Thanks for sharing this information -- I had no idea you could use your VA loan for anything other than the original purchase.  Are vets entitled to only one loan?  (I'll have to check with my retired Air Force hubby and see if he's ever used his!)

Sep 05, 2008 10:13 AM
Gail Wilson
Albany, OR

Hi Margaret,  The loan is limited to owner-occupied property.  According to the ODVA an eligible veteran is generally limited to two ODVA loans, which, in aggregate, cannot exceed the maximum of $417,000. 

 

Sep 05, 2008 10:36 AM
Chuck Willman UtahHomes.me
Utah Homes - Alpine, UT
Utah Homes

The VA loan is (and has been) one of the greatest loans out there.

Sep 08, 2008 03:10 AM
Latonia Parks
Top Bragg Realty, Fayetteville NC, Home of the 82d ABN DIV - Fayetteville, NC
Certified Military Relocation Expert

Gail, your blog sounds like the services I offer here in Fayetteville, NC.  I know all of the ins and outs of Ft. Bragg to make sure I do my part for our Soldiers and Airmen.  I just retired after 20 years there.  Life is great on THIS side.

Sep 08, 2008 10:21 AM
Gail Wilson
Albany, OR

Hi Latonia, I want to help out our soldiers as much as I can on this side of the country.  By the way, my daughter is stationed at Ft. Bragg, although she is deployed to Iraq right now.  Will be home in about 3 months.

Sep 08, 2008 12:01 PM
Vickie McCartney
Maverick Realty - Owensboro, KY
Broker, Real Estate Agent Owensboro KY

Gail~ I know you are so proud of your daughter serving her country, but I bet you can't wait for her to get back home again either!  I hope all the Veterans in your area call YOU to get their home! Vickie

Sep 10, 2008 03:13 AM
Brett Tousley
Keller Williams Realty - Richland, WA
Tri Cities Real Estate | (509) 420-0013

Thank your daughter for us please Gail!  We're proud of all our service members, you must be bursting with pride!

Sep 15, 2008 06:27 PM
Sarah Eubanks
Hill Valley Financial Services - Oregon City, OR
Preferred Oregon Loan Consultant & Notary Public

Hi Gail...

We should partner together for the Oregon Vets.  It is truly one of my top two favorite loans to handle.  While many people do not fully understand the benefit of the ODVA as opposed to the Federal VA program, I certainly do.  I believe that you have inspired me to do a post on the benefit of the ODVA specifically.  In the meantime, I will try to contact you and see what we can accomplish together for the good of those who put their life on the line for mine. 

Warmly,

Sarah

Sep 16, 2008 12:01 PM
Jose Delgado
Opes Advisors, INC. - Eugene, OR

Gail, (Proud Mother)

That is great to hear that there are more of us extending our services to our Soldiers who put their lives on the line for our Freedom. My Fiance` is in the National Guard and soon to switch over to the Army Reserves. Her brother (my future brother-in-law) is going through the process on being deployed for his second time to Iraq. Also as a supporter and proud soon to be husband of an Army soldier would like to help you in providing our services to Veterans'. There are two great programs available for our Veterans'. One is the Federal VA loan program and the other is the Oregon Department of Veterans' Affair (ODVA) loan program. Which the ODVA loan program rates just changed, speaking of. check out the most recent rates by clicking here. Lets talk and help our Veterans' achieve home ownership!

Jose Delgado

C: (541) 968-5648

O: (541) 683-2400

Email: josedelgado15@hotmail.com

 

 

Oct 18, 2008 01:17 PM
1SG (Ret.) David Kucic
Hawaii Military Realty, Inc. - Ewa Beach, HI
President and Owner

Aloha Gail-Great information!  Your veteran buyers may not have to fill out and file VA Form 26-1880 as long as their VA approved lender has access to the ACE (Automated Certificate of Eligibility) computer system.  If they do, the lender can generate the certificate in seconds.  Good luck to your daughter.  What part of that wonderful country is she stationed in?

Oct 20, 2008 09:45 AM
Gail Wilson
Albany, OR

David,   Thanks for the info.  My daughter is in Tel Afar.

 

Gail

Oct 20, 2008 02:47 PM
Stanton Homes
Stanton Homes - New Home Builder - Raleigh, NC
Design/Build Custom Home Builder in North Carolina

With the new tax credits on solar, the VA benefit can be even better.  Tell your daughter thank you for us!

Nov 21, 2008 06:35 AM