VA Home Loans Eligibility

Vets have a special program available to them to help them buy a new home and get a VA Home loans Valencia with no money down. This allows a vet to finance up to 100% of the purchase price. It is a fast and easy process with quick turn around times. A Vet can also do a VA home loan refinance Santa Clarita with the same easy process and participate in the VA streamline loan process.

The Vet can also refinance their VA loan with what is called a IRRL streamline loan. Qualifying for  VA home loans Valencia, the borrower must be an active duty service member or a reserve member, a discharged Vet or surviving family member who is eligible.  They can also add energy efficient improvements to their home in the new refinance.  It must be the Vets primary residence to qualify for the Santa Clarita VA home loan.

What you will Need

The Vet will need to provide either a Certificate of eligibility or a DD214 form so the lender can access the VA system to get the certificate. The Santa Clarita lender will require a VA appraisal be done on new home purchases but they might be able to waive the appraisal for VA refinances. Most VA loans are limited to $417,000 but there are exceptions.

A joint loan is made to a Vet and another person who might not be a Vet. All borrowers are liable for the loan and the loan with all borrowers must be prior approved by the VA. The minimum credit score is 620 on VA home loans Santa Clarita. There are plenty of helpful articles to help you raise your credit score if you are a vet and find your score is below what is required. The credit score of any co-borrower may also need to be evaluated to qualify for the loan.

The VA home loan may require the Vet to have cash reserves to qualify for the loan. In summary, VA home loans Santa Clarita are easy to qualify for if you are a Vet. We also offer VA home loans Valencia, VA home loans Palmdale, VA home loans Castaic and many other cities. If we can answer any home loan questions or get you a pre-approved home loans Santa Clarita, please give us a call.