The VA helps military service members, veterans, and eligible surviving spouses with qualifying for a mortgage — both for home purchase or refinancing. The Veterans Administration doesn’t actually lend the money for the mortgage; instead, it backs the loans made by private lenders to those who qualify.VA loans offer many benefits including competitive rates, little to no down payment, and often no mortgage insurance. This could help save you over $100 a month in comparison to a FHA mortgage!
The list of those who are eligible includes:
VA loans can be a huge benefit when refinancing with an Interest Rate Reduction Refinance, or IRRRL. An IRRRL is a streamlined refinance process that requires minimum documentation in order to refinance to a lower rate.
Applying for a VA loan will require a Certificate of Eligibility (COE). You can apply for your COE by…
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