VA Home Loans
Under the GI Bill of Rights, VA loans from private lenders provide eligible veterans access to a federally guaranteed, personal-occupancy home with no down payment. The guaranty protects private lenders against loss in the event borrowers fail to repay their loans, while allowing borrowers to obtain favorable financing terms.
This program was developed to offer a long-term solution to American veterans and their families. VA loans do not require private mortgage insurance (PMI), which allows for larger loans with the same monthly payment.
Who Is Eligible For A VA Loan?
- Active-duty personnel
- Current or former Reservists/National Guard members
- Some surviving spouses
How Can Veterans Get VA Loans?
If you are a veteran, you can apply for a VA loan with any mortgage consultant at Mortgages Unlimited, as we are a participant in the VA home loan program. You will need a Certificate of Eligibility from the VA to prove you are eligible for a VA loan. Keep in mind that the Certificate of Eligibility, while necessary, only allows an eligible individual to apply for a home loan; it does not guarantee a loan approval. You will also need sufficient income and suitable credit.
In order to obtain a VA home loan, you must first fill out VA Form 26-1880, the request for your Certificate of Eligibility.Contact Mortgages Unlimited to find out if a VA home loan or refinance could be right for you.