2 two steps to a starting a VA Loan

posted May 8, 2014, 2:02 PM by Aaron B Lewis

What are the two documents you need to qualify for this benefit, they are?

DD214 and your COE (Certificate of Eligibility)

If you need direction or assistance in acquiring either document we have the answers.

What’s the difference between a down payment and a Funding fee?

The funding fee is a percentage of the loan amount which varies based on the type of loan and your military category. This reduces the loan's cost to taxpayers considering that a VA loan requires no down payment and has no monthly mortgage insurance.

Veterans serve and have served during different conflicts and wars, each period of war or non-war service may have different required lengths of active service to qualify for the Home Loan Benefit. A few other facts you should know.

  • You don’t have to be a first-time homebuyer

  • You can reuse the benefit

  • VA-backed loans are assumable, as long as the person assuming the loan qualifies.