Top 5 Easy Tips To Get a VA Loan

Qualifying for a VA loan can be a great experience in your homeownership journey. VA home loans are government-backed mortgages that allow veterans to buy their dream homes without having any down payment and mortgage insurance. For the entire VA home loan process to go through well, preparation is key. Below are the top 5 easy tips to get a VA home loan. Arizona boasts many qualified options.   

1. Avoid Stressing Yourself on the Certificate of Eligibility (COE) 

The COE is usually a document given by the Veterans Affairs department to show that you meet all requirements to qualify for a VA loan. What many people don’t know is that this COE isn’t necessary. You can start the process without it whatsoever. Your lender will help you get one.  

2. Save Enough Money

Although you won’t be required to make any down payment when applying for a VA home loan, it’s essential to have some savings to cater for other costs, including application fees, home inspection fees, real estate taxes, appraiser fees, brokerage fees, hazard insurance, and title insurance. You’ll also be required to pay VA funding fees to get favorable loan terms.  

3. Check your Credit Score

VA loans are a bit different from the common conventional loans. Typically, they usually have better terms and even relatively lower interest rates. Veterans Affairs has no minimum credit score. However, your credit score will still determine the loan terms and the interest rate you’ll get. To minimize the risk involved, lenders will still check your credit score. A good credit score will attract an excellent deal.  

4. Get an Expert Realtor 

Getting a real estate agent who specializes in VA loans can be of great help to you. Get an expert real estate agent who understands how this type of loan works, the requirements, and the entire real estate market. This expert will also help you understand other loan options you can consider under the VA umbrella, and their benefits, including cash-out refinance, VA refinances, among others.  

5. Compare Multiple VA Lenders

The only way to get a VA lender with favorable loan terms and interest rates is to research and compare different lenders. You don’t have to settle on the first lender you come across. Take time to compare multiple VA lenders and what they’ve to offer.   In conclusion, these are some easy tips to get a VA loan. You should also find a VA-approved property and understand occupancy requirements.

A Lending Hand for Financing Home Mortgages

Spire Financial (A Division of V.I.P. Mortgage, Inc.) 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.



V.I.P. Mortgage, Inc. DBA Spire Financial does Business in Accordance with Federal Fair Lending Laws. NMLS ID 145502. For state specific licensing, visit V.I.P. Mortgage, Inc. is not acting on behalf of or at the direction of the FHA/HUD or the Federal Government. This product or service has not been approved or endorsed by any governmental agency, and this offer is not being made by any agency of the government. V.I.P. Mortgage, Inc. is approved to participate in FHA programs but the products and services performed by V.I.P. Mortgage, Inc. are not coming directly from HUD or FHA. Information, rates, and programs are subject to change without notice. All products are subject to credit and property approval. Not all products are available in all states or for all loan amounts. Other restrictions may apply. This is not an offer to enter into an agreement. Not all customers will qualify.

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