How Do You Qualify for a VA Loan?
A VA home loan is generally available to any veteran or service member who has a Certificate of Eligibility (COE). This eligibility is earned through your time in service to your country. The Veterans Administration can assist you in understanding how to qualify for a VA loan by explaining the terms of discharge and length of service requirements to get a COE. Once you’ve got that in hand, we can make sure you get the best home purchase loan possible
Do I Need Good Credit?
While your lender will set the exact terms, you generally do not need a great credit score to qualify — simply one your bank will work with. Generally, VA loans do not require as high a credit score as other types of purchase loans. However, if your credit is below 580, you may want to try to repair it before applying for a VA mortgage.
Our Loan Experts Will Walk You Through the Home Loan Process
Your VA loan will require an appraisal from the VA, and it differs slightly from typical home buying. The VA appraisal determines the fair market value of the home you wish to purchase, ensuring it’s a sound investment for your lender. On the plus side, a VA loans require no down payment, saving you cash upfront. Veterans have been busy serving our country, so that requirement is waived.
Spire Financial brings lending expertise to you. All of our loan officers offer personalized communication for every client, guiding them through the process. We can show you ways to maximize your finances and unlock future opportunities. Spire Financial keeps you in control of refinancing, debt consolidation, and home equity. Together, we can achieve your financial goals.