A Modern Introduction to VA Lending

Transcript

“Hello, this is Scott from Texas Home Loans, and this is Intro to VA Lending. When you’re looking for a VA loan, there’s a couple specific things that you need to do as a veteran or current service member, and that’s on top of your qualifications for a regular loan. So you want to make sure you can get your certificate of Elig.

Which is on your eBenefits. If you’re retired, you can also get that through your DD two 14 document. If you have an issue getting this, you can get in touch with us and we can pull your certificate of eligibility for you and make sure that you have the right criteria to get a VA loan. On top of that, when you’re doing a purchase, you’ll need to provide your income documents.

Um, maybe some asset documents depending on whether your closing, closing costs will be paid for by you or the seller. But, um, the VA does not require down payment if you choose the note down payment option. Um, that’s a great option only. Applicable to veterans, by the way. And you don’t pay monthly mortgage insurance.

Um, so minimal down payment and usually very, very good rates. We go into how we don’t change our va, our margins on V veterans, this is very important for you to know, but you can see that in other videos and that ends up in a lower interest rate for you, which is what you earned with your service, and that can save you hundreds of thousands of dollars over the life of the loan.

Um, so in, in general, You’ll need to have your income ready, um, your cert, certificate of eligibility, and we’ll need to make sure your credit meets the right criteria for a VA loan. It’s a little bit more relaxed than a conventional loan, but you still need decent credit, um, to get a VA loan, and we can go over that in detail.

If you have any questions about that, hopefully the intro to VA is informative. You can always call us to go over your particular situation to see what your options are for your VA loan. Thanks, and again, we appreciate your service.”