A veteran home loan is available through the Department of Veteran Affairs. Anyone and everyone who has served for the U.S. military and has had an honorable discharge or who is still enrolled in the military has the ability to access Veterans Affairs (VA) loans for buying a home.
The loan application process is a little different from the standard process for a loan. This is because the government wants to ensure that the home is in good standing. As a result, real estate agents who specialize in VA home loans are the best ones to work with. They will be able to provide assistance when searching for homes that will meet the government’s requirements.
The application process is pretty straightforward. A person will need to be able to prove they served in the military. They will be able to take advantage of the loan option on more than one occasion, as long as they do not currently have another home that has been purchased with the VA.
It’s important to identify one’s self as a veteran from the very beginning in the home search. This will ensure the real estate agent begins guiding the person toward the right homes. Additionally, the agent can find a lender that specializes in veteran home loans in order to get pre-approved. In many instances, a veteran will be able to tap into better interest rates than the average American can – and this is yet another reason to look into this loan option.
The first step is contacting a real estate agent that works with military families and veterans. They will be able to get the process started. From there, a lender will be able to tell a veteran how much they are able to afford based upon their credit and their disability status.