VA Mortgage Home Loans

VA Mortgage Information

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Qualified Veterans and active duty military can qualify for mortgage loans up to $417,000.00 in the State of North Carolina and South Carolina. Almost every Veteran is eligible for a VA Home Mortgage. The main objective an underwriter has when looking a at VA Mortgage Loan Request is the Veteran's ability to repay the mortgage loan. Credit is secondary. For this reason applying for a VA Mortgage makes sense for any Veteran whether or not you have good or damaged credit. You will get the same low 30 year fixed rate. The VA Loan process is the same as other mortgage loans except that the veteran must receive a Certificate of Eligibility from the VA.

The First Step:

The first step in applying for a VA Mortgage is to obtain your Certificate of Eligibility (COE) form the VA. We can obtain the certificate for you or you can go on line and apply for one at the Official VA Website. It normally takes us a few days to get the COE from the VA. We will need you to fax us or email us a copy of your Discharge Form DD-214. This document is required because the information on it is used to complete the VA Form 26-1880. We also need to attach this form to your request for eligibility Form.

The VA will determine your eligibility for Veteran loans when you submit VA Form 26-1880. If you are qualified, the Department of Veterans Affairs will issue you a Certificate of Eligibility to be used when applying for a VA home loan. The following information is needed to complete the VA Form 26-1880:

• Social Security number
• Branch of the military in which you serve or served
• Service number, separation of service, or statement of service papers
• Any previous VA loans that you may have had, including the VA loan number

We will complete the form and submit it online to the VA and attach a copy of your Discharge Form DD-214. When we submit your information on line it usually takes from 3 days to 2 weeks to get your eligibility back. It just depends on how busy the VA is at any one time.

The Second Step:

Once you have your Certificate of Eligibility, the loan process is the same as any other mortgage loan except for a few extra VA Forms/Disclosures that you need to sign and, when a Purchase Contract is executed, we will order an appraisal on the VA Portal Site and the VA will assign an appraiser to appraise your home.

Other Important VA Information:

Information on the VA Funding Fee

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