Veteran's and Active Duty Military Mortgage Information

Va Home Loan Mortgage Information and Rate Quotes

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Government Veteran's and Active Duty Military Mortgage Information Sites***

Description

Quick Links

The maximum Home Loan amount of VMLI insurance coverage is $90,000. As the balance on the mortgage so does the coverage.	Veterans Mortgage Life Insurance (pdf file)
Find Out If You Are Eligible for a Veterans Mortgage	VA
The Home Page For VA Administration	Va Home Loans Website
Read Through the Va Administrations Guidelines for home loan Guarantees	Va Veterans Mortgage Pamphlet
HUD administers most of the nation's major housing programs, which insures loans to homebuyers similar to how VA guaranties Home loans for veteran-homebuyers.	U.S. Department of Housing and Urban Development (HUD)
Informative publications from various federal agencies	Government Consumer Information
Administration Responsible for FHA LOANS	Federal Housing Administration (FHA)
Almost all the Consumer Information you can handle at one site, Find Info for all government products, agencies, and guidelines for Va mortgage consumers	Government Information Veterans/VA Mortgage Guide
Family Resources for military	Military Family Resources Center
Military Benefits	Benefits Administration

WHY A VA MORTGAGE?

Most times No down payment Required. You may be able to borrower 100% of the sale price. Current loan limit is $240,000. There usually is an Upfront Mortgage Insurance premium but no monthly mortgage insurance premium. Appraisers are chosen and approved by VA. During financial difficulties VA works hard to keep the Va borrower in their home.

WHAT YOU CAN FINANCE

Single family home, townhouse, condominium unit, Manufactured home. You may also be able to use Va loans for new home construction and previously occupied home rehabilitation

Dept Of Veterans Affairs Va Loan Requirements	List of Loan Requirements
Dept Of Veterans Affairs Va Loan	How to prepare for a new home

STANDARD DOCUMENTATION needed to qualify for a VA Mortgage

1. VA Certificate of eligibility (go to va.gov. to get a new one) 2. W2's (last two years) 1099 for self employed 3. Most recent pay stubs, usually last two 4. Most recent Checking account bank statements (all pages, even if the pages are blank and state ,"intentionally left blank" 5. Most recent Savings account bank statement 6. Asset Statements (Assets can be trust, stocks, bonds, 401k's ect. *Most lenders will not accept internet print outs of statements contact us for lender's requirements 7. As with all loans (as required by the patriot act) A VALID STATE DRIVERS LICENSE AND SOCIAL SECURITY CARD - The underwriters and closing departments at mortgage companies will usually only accept a Valid picture passport and a printout* (*signed dated and contact phone number) from The Social Security Administration as substitutes for the requirements