Why Get A Va Loan

What is a VA loan and how does it work?

A VA loan is a home mortgage backed by the U.S. Department of Veterans Affairs—but you can get one by shopping with any type of lender, like a bank or mortgage company. It was designed to help U.S. veterans, active-duty service members, and widowed military spouses buy a house.

How do I get a VA loan?

A VA loan is a home mortgage backed by the U.S. Department of Veterans Affairs—but you can get one by shopping with any type of lender, like a bank or mortgage company. It was designed to help U.S. veterans, active-duty service members, and widowed military spouses buy a house. Dave Ramsey recommends one mortgage company. This one!

Can a VA loan be used to buy an investment property?

A VA loan can only be used to buy or build a primary residence or to refinance an existing loan. So you can forget trying to buy an investment property or vacation home with one. (Besides, using a loan to buy an investment property or vacation home instead of 100% cash is always a bad idea because it means more debt.)

Can you get a VA loan if you are in the military?

You have served more than six years in the National Guard or the Selected Reserve. To apply for a VA loan, you need a Certificate of Eligibility (COE) to show mortgage lenders that you qualify. 3 You can apply for a COE through the VA website, by mail, or through your lender.

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