HOW TO APPLY FOR A VA LOAN ONLINE

Home ownership is a big step and can be a daunting process for anyone. With the assistance of the VA home loan programs, though, you can simplify the process and make your dream home a reality.

There are three different types of VA loans offered, each with specific eligibility criteria. However, you can obtain the information you need and apply online quickly and efficiently.

HOW DO VA LOANS WORK?

A VA loan is a home loan that is backed by the department of Veterans Affairs (VA) for individuals who have served or are presently serving in the military.

The VA does not provide money for the loans; however, it backs loans made by private lenders to veterans, active military personnel and surviving military spouses who meet the eligibility requirements.

There are three types of VA loans available: Purchase

loans. Cash-out refinance loans. Interest-rate-reduction refinance loans.

While there are a number of different benefits to the VA loan program, one of the greatest advantages is that no down payment is required to purchase a home.

This qualification alone can make home ownership possible for active military personnel or veterans who might not otherwise be able to afford it.

WHO QUALIFIES FOR VA LOANS?

The VA home loan program was created to serve active military personnel, veterans and surviving spouses.

Individuals who can benefit from the program include:

Veterans. Active-duty service

members. Reserve members. National Guard members. Some surviving spouses.

To be eligible, individuals must have:

Suitable credit. Sufficient income. Valid

Certificate of Eligibility.

Additionally, individuals who take advantage of the program must use the purchased home for their own personal occupancy.

HOW DO YOU OBTAIN A CERTIFICATE OF ELIGIBILITY?

Once you have determined that you are eligible, you’ll need to obtain a valid Certificate of Eligibility or COE.

This certificate verifies that you indeed are eligible for a VA-backed loan. To attain the COE, you will need to submit the evidence required to verify your eligibility.

The exact evidence varies depending upon the nature of your eligibility; however, most require some combination of the following:

DD Form 214 that includes:

• Character of service• Reason for separation

(Veterans and current/former National Guard or Reserve members who have been activated to Federal active service)

Current statement of service that is signed by the appropriate personnel and shows:

• Individual’s full name• Social Security Number

• Date of birth• Entry date of active duty• Duration of any lost time• Name of the command providing

information (Active Duty Service Members)

Current statement of service that is signed by the appropriate personnel and shows:

• Individual’s full name• Social Security Number

• Date of birth• Entry date of active duty• Total number of creditable years of service

• Total number of creditable years of service.

• Duration of any lost time• Name of the command providing

information(Current National Guard or Reserve member who has never been on Federal active service).

To apply for a COE online, you’ll simply need to go to the VA eBenefits portal.If you already have login credentials, you’ll simply click the login box.

If you need credentials, select the register box and follow the prompts on the screen.

For assistance, you can contact the eBenefits Help Desk at 1-800-983-0937 Monday through Friday from 8am to 8pm EST.

HOW DO YOU APPLY FOR A VA LOAN ONLINE?

Once you have determined your eligibility and applied for your COE, you can apply for your loan online very simply. Access your preferred lenders site and complete the online pre-approval process.

To do so, you’ll need some important information, including:

• Social Security Number

• Property information• Income details

After supplying the requested information, you simply submit the application, and the lender will contact you with any further questions.

Purchasing a home is a major undertaking; however, the VA loan program simplifies the process for military personnel and makes home ownership possible for many who otherwise would not have the opportunity to purchase their own homes.

Mortgage Originator Jimmy Vercellino, specializing in VA loans, helps veterans use their VA loan benefit to their greatest advantage.

Be a proud homeowner today. For more details call 480-351-5904 or visit the site www.valoansforvets.com

VA Loans for Vets7702 E. Doubletree Ranch Road, Suite 220Scottsdale, AZ 85258Phone: (480) 351-5904Email: jimmyv@fcbmtg.com