2007-05-25 06:20:20 · 4 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Questions about who is eligible for a VA loan and reuse of eligibility for another VA loan.
Q: How do I apply for a VA guaranteed loan?
A: You can apply for a VA loan with any mortgage lender that participates in the VA home loan program. At some point, you will need to get a Certificate of Eligibility from VA to prove to the lender that you are eligible for a VA loan.
Q: How do I get a Certificate of Eligibility?
A: Complete an 1880: You can apply for a Certificate of Eligibility by submitting a completed VA Form 26-1880, Request For A Certificate of Eligibility For Home Loan Benefits, to the Winston-Salem Eligibility Center, along with proof of military service. In some cases it may be possible for VA to establish eligibility without your proof of service. However, to avoid any possible delays, it's best to provide such evidence.
http://www.homeloans.va.gov/faqelig.htm
2007-05-25 06:29:56 · answer #1 · answered by Anonymous · 0⤊ 1⤋
First you need VA approval for the loan, this is as simple as presentting your DD-214 to the VA. Next you need a lender who processed VA loans, your realestate agent can help you with that. That litterally all there is to it.
2007-05-25 13:25:54 · answer #2 · answered by ttpawpaw 7 · 0⤊ 0⤋
As one veteran to another, shop around before you use your VA loan. It sounds attractive but the rates could be higher than that of a conventional lender.
2007-05-25 15:01:41 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I suggest you visit the VA site for information. Many lenders can actually help with getting the Certificate of Elligibility.
2007-05-25 13:33:47 · answer #4 · answered by Michael Iarrobino 2 · 0⤊ 0⤋