VA Home Loan program
VA provides policy, guidelines, and oversight of the program. Lenders provide financing for eligible Veterans. The guaranty allows Veterans to obtain a competitive loan without a down payment. Lenders need a Certificate of Eligibility to prove entitlement. Your length of service or service commitment, duty status and character of service determine your eligibility for specific home loan benefits.
- $0 Down
- NO Mortgage Insurance
- Min FICO 620
VA Certificate Of Eligibility (COE)
For Purchase and Cash-Out Refinance Loans, borrowers must have suitable credit, sufficient income and a valid Certificate of Eligibility (COE) to be eligible for a VA-guaranteed home loan. The COE verifies to the lender that the borrower qualifies for a VA loan.
To obtain a COE for a Veteran we must have a copy of the DD Form 214 which provides the type of service and the reason for separation. Typically the borrower must have been discharged under conditions other than dishonorable. If a borrower is an active duty service member and does not have the DD Form 214 we will need a
VA home loans can be used to:
- Buy a home, a condominium unit in a VA-approved project
- Build a home
- Simultaneously purchase and improve a home
- Improve a home by installing energy-related features or making energy efficient improvements
- Buy a manufactured home and/or lot.