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Te VAHome Loan
History o the VA Home Loan:
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lthough housing loans have long beencommonly available or home buyers,it was not until 1944 that veterans couldexercise specic benets in purchasingmortgages. President Franklin D.Roosevelt made this possible by signingthe Servicemen’s Readjustment Act,which granted veterans the opportunity toparticipate in various educational, nancialand employment programs. Since then,more than 18 million people have benetedrom a Veterans Administration home loan.Legislation regarding VA home loans hasevolved signicantly since the end o WorldWar II due to urther wars, reevaluation o eligibility and economic changes.
 
Advantages:
Qualied borrowers can obtain a VA home loanwith no down payment and no private mortgageinsurance, an incredible benet in today’s tighterlending environment. Most conventional loansrequire a down payment o at least 20 percent toavoid paying private mortgage insurance. Veterans Aairs has also allowed or easierqualication and lower interest rates than standardloans, enhancing the exibility o the buying process.
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Stay up to date on the latest news andinormation with the VA Loans Insiderblog: www.veteransunited.com/valoans
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Connect with Veterans United’s SmartMilitary Money and Future MilitaryHomeowners communities atwww.veteransunited.com/community
 
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 VA Mortgage Center.com deals specically withveteran loans, so customers can be assured o specialized knowledge and expert support.
Qualications:
PREQUALIFICAIONIn order to get started, ll out some basicinormation including your name, address andphone number, as well as a general outline o yourhome-buying specications. Tis initial processdoes not commit you to anything; rather, it putsyou in contact with a loan specialist who willguide you to the next step and can help you getprequalied.ELIGIBILIY You will need to determine your eligibility witha Certicate o Eligibility, which can be easilyaccessed and completed by contacting one o ourloan specialists. You will also need to providevalid service documentation, such as a DD Form214. In general, VA home loans are available orboth current and honorably discharged militarypersonnel who have served at least 181 days onactive duty during peacetime; 90 days on activeduty during war time; or six years in the Reservesor National Guard. Spouses o service membersseverely injured or killed while serving are eligibleas well. Speak with a VA Mortgage Center.comspecialist or see our other guides or additionalinormation regarding eligibility.PREAPPROVALOnce you are deemed eligible and have beenprequalied, you may begin the application process
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to get preapproved or a loan. Your loan specialistwill go over urther nancial and backgroundinormation with you, including your [link]debt-to-income ratio.[link]
Renancing:
 VA Mortgage Center.com oers multiple renancingopportunities ater you’ve closed on your loan.Because you still retain your eligibility, you havethe option to:
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Renance to a lower interest rate andreduce your monthly payments
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Extract cash rom your home’s equity
o learn more about VAloans or to get started call800-405-6682 or visitwww.veteransunited.comOpen 24/7 to better serveour troops overseas
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