VA Home Loan California – ZERO down Payment to $1,000,000…For Veterans Only!
VA Home loans are mortgages guaranteed by the Department of Veteran Affairs. These loans offer military veterans exceptional benefits, including low interest rates and no down payment requirement. This program was designed to help military veterans realize the American dream of home ownership.
The VA Home Loan was designed to offer long-term financing to eligible American veterans or their surviving spouses (provided they do not remarry). The basic intention of the VA direct home loan program is to supply home financing to eligible veterans in areas where private financing is not generally available and to help veterans purchase properties with no down payment. Eligible areas are designated by the VA as housing credit shortage areas and are generally rural areas and small cities and towns not near metropolitan or commuting areas of large cities.
The VA Home Loan program is designed for Veteran’s who meet the minimum number of days of completed service. The program does allow for benefits to Surviving Spouses.
VA Home Loan does not have a minimum credit score used for pre-qualifying for a mortgage loan, however, most Lenders require a minimum credit score of at least 620.
A Veteran who has used their entitlement to previously purchase a home, may have entitlement left to purchase another one. If you previously purchased a home using your VA Benefits then you might still have some of that “Entitlement” available to you for the purchase a new home! To Calculate Maximum Entitlement available, consider the following:
- If your previous home was purchased using a VA Home Loan, and that loan was paid off by the folks you sold the house to, the full entitlement may have been restored.
- If you sold your home to someone, and allowed them to ASSUME your VA Home Loan, then you might have the full entitlement restored, if one or more of the purchasers were also Veterans.
- If you still own the home, and you are renting it out – you might be able to purchase a new home using your partial entitlement, but there are several restrictions.
Allowable Income Sources used to qualify for a VA Home Loan include: Retirement Income, Social Security Income, Child Support, Alimony and Separate Maintenance, BAH, BAS and Disability Income. Dependency and Indemnity Compensation (DIC)for a Surviving Spouse can also be included. In addition, stable, documented income from employers remains the best income source for VA Home Loans.
Call us today at 424 225 2167 for help. One of our mortgage professionals will help you get the best possible VA Home Loan solution for your situation. We’ll be with you every step of the process and not hand you off to someone else.
How to get VA Home Loan in a simple and easy way?
There are many times when due to financial obligations people are not able to enjoy the amenities of life. Especially veterans find it a lot difficult to fulfill their needs due to shortfall in their income. If you are encountering the same situation then one of the best solutions is to opt for VA Home Loan which is guaranteed by the Department of Veteran Affairs.
The best part about such type of loan is that there are numerous benefits that are involved. Let us try to find out what exactly VA Home Loan is and what all are the benefits that are involved.
What exactly a VA Home Loan is?
- As discussed earlier also this type of loan is approved and guaranteed by Department of Veteran Affairs and is mainly designed for all those military veterans who wish to have some money for fulfilling their needs.
What all are the benefits that are involved?
The best part about VA Home Loan is that there are plenty of amazing benefits that are involved and some of them are listed below:
- Zero Down payment requirement
- Very low interest rates
- Military veterans exceptional benefits
- Flexible options.
With so many benefits involved VA Home Loan is definitely the best choice for veterans’ especially military veterans.
How to get such loans and what are the eligibility criteria?
There is a minimum eligibility criterion that is required to be fulfilled such as minimum number of days of completed service. Though there is no minimum credit score requirement from VA but most of the lenders offer loan with minimum credit score of 620.
- Even if you have bought a VA Home Loan previously and repaid it successfully then you are eligible for 2nd entitlement also. This is the reason this is one of the most liked loan product among veteran people and more and more seniors are coming and looking forward to VA Home Loan.
- The income sources that are allowed include retirement income, child support, alimony, separate maintenance, social security income, BAS, BAH and disability income. In some cases DIC that is dependency and indemnity compensation for a surviving spouse is also included.
- If you are currently working somewhere and can produce a stable income certificate from your employer then it can also be considered.
- One of the best ways to get such loans is through internet. All you need to do is to log on to our website and contact us by sending an email or by calling on the phone number that is provided on our website.
Hence from all of these above mentioned points you can very well judge that in order to fulfill all your financial needs VA Home Loan is one of the best choices that can be explored and moreover with flexible payment terms and entry level eligibility one must give this loan a try. Live a happy and peaceful life without any worries about not fulfilling any wish.
Now that you have a basic idea about VA home loan California, and if you are a military veteran, we can help you in further step. Give us a call anytime to know the ups and downs of California VA Home loan. Our mortgage professionals know the whats and hows of VA home loan in California. They are courteous in behavior and highly knowledgeable so that you share you concerns and clear your concerns about VA Home loan California. We will help you find the best VA home loan California that fits in to your situation.
Call us today at 424 225 2167 for help. One of our mortgage professionals will help you to choose the best VA Home Loan in California as a solution for your situation. We’ll be with you every step of the process in dealing with VA home loan California and not hand you off to someone else.