How to Do a VA Mortgage

How to Do a VA Mortgage

If you are eligible for a VA loan to purchase a house, you should take advantage of it.  The Veterans Administration has a variety of programs that are available to help you move into the home you’ve always wanted, but there are some steps you will need to follow.  As long as you have served for at least 181 days during peacetime or 90 days during war, you will qualify for the VA home loan program.

The first thing you will need to do in order to get a VA mortgage is to fill out the VA Form 26-1880.  This form will help you determine if you are actually eligible for the loan benefit. This form essentially gets you one step closer to moving into your new home.

You should also search for VA lenders in your immediate area.  Doing so will allow you to speak directly to local lenders and see if they even offer VA loans.  If not, think about moving your search into a broader area.

Once you’ve found a lender that does offer loans backed by the VA, ask them for a pre-qualification form.  This form will give you an idea of what you might be able to afford when buying a home.  It will also give you an idea if you are eligible for a mortgage based on your credit history and income.

Getting to move into your new home is an exciting time.  And if you can take advantage of what the VA has to offer you, do it!

Jon Huser