Tuesday, June 1, 2021 / by Mitch Stein
What is a VA Loan?
A VA loan is a mortgage loan guaranteed by the US Department of Veterans Affairs and issued by approved lenders. VA loans help veterans, active duty military, and members and their families purchase homes or refinance their mortgages.
In order to obtain a VA loan, you must have suitable credit, sufficient income, and a valid certificate of eligibility. The home you are purchasing must be for your own personal occupancy, but VA loans can be used to build a home, buy a home or condo in a VA approved project, manufactured home or lot, simultaneously purchase and improve a home, or to improve a home by making energy efficient improvements.
To be eligible you must have been discharged under conditions other than dishonorable and meet qualification requirements which can be obtained from the VA. The spouse of a veteran can also apply for a VA home loan under certain conditions. To find out if you meet the qualifications of a VA loan, contact the US Department of Veterans Affairs.
If you have any questions relating to buying or selling a home, please give us a call at 909-255-1070.
Mitchell Stein License# 0208163
Mitchell Stein License# 0208163
