If you are an active-duty service member or veteran and are looking to purchase a house, a VA home loan is likely the best mortgage option for you.
However, there are certain VA loan requirements to consider. First and foremost, you must have a Certificate of Eligibility (COE). In addition to satisfying the eligibility conditions set forth by the Department of Veteran Affairs, you must also meet borrower standards set forth by lenders.
Fortunately, United Executives has several VA home loans that are specifically designed to help active-duty military personnel and veterans in Arizona, California, Colorado, Florida, Georgia, Hawaii, Idaho, Maryland, Michigan, Montana, Tennessee, Texas, Virginia, and Washington qualify for a mortgage and purchase their new home or refinance their mortgage. Our favorable terms are much more flexible than traditional mortgage loans, helping you overcome the common barriers to entry for homeownership.
Learn more about the exact requirements for VA loan eligibility, the minimum credit score for a VA loan, and how to obtain a VA loan with Griffin Funding.
In addition to VA home loans that help you purchase a house, you can also refinance your current VA loan or another mortgage loan. There are also similar programs through the VA that allow you to build, repair, and adapt your home.
To be eligible for a VA loan, you must fall into one of the following categories:
VA loan eligibility is dependent upon length of service, duty status, and character of service. It is important to note that individuals who have been dishonorably discharged are not eligible for a VA home loan.
There are several VA loan requirements you will need to comply with. However, the requirements depend on the specifics of your VA loan structure.
For those applying for a VA purchase loan or a cash-out refinance, the following VA loan requirements apply:
Please note that you may only use a VA home loan for your primary residence. If you have questions about VA loan requirements, our loan officers will gladly clarify any points of confusion.
For those applying for a VA to VA refinance, the VA loan requirements are much more flexible, including:
For VA to VA refinancing, recent credit events including foreclosures, short sales, and bankruptcies are okay.
To apply for a VA home loan through Griffin Funding, you must be current on your existing mortgage for the last 90 days. To learn more about our VA loan requirements and eligibility, speak with one of our knowledgeable loan officers today.
For a VA loan through Griffin Funding, a minimum 580 credit score is typically required. However, in some cases, borrowers may be able to qualify with a 550 credit score.
United Executives VA home loans for active-duty military personnel and veterans in Arizona, California, Colorado, Florida, Georgia, Hawaii, Idaho, Maryland, Michigan, Montana, Tennessee, Texas, Virginia, and Washington. Our VA Home Loan Programs include:
Our loan officers can direct you to the best loan product for your needs. Our services are tailored to your unique situation to make the application process as simple and stress-free as possible.
The very first step in applying for a VA home loan is securing your COE from the VA. A COE is necessary to prove your VA loan eligibility. While it might sound intimidating, this portion of the process is fairly simple and can often be completed in just a few minutes. You can apply for a COE with your lender, by mail, or online through the eBenefits portal.
While there are a variety of lenders who provide VA home loans, Griffin Funding is dedicated to providing our veterans with unparalleled service and the most favorable terms. And, our application process has been streamlined to be as efficient as possible so you do not miss out on the home of your dreams.
The application process for a VA home loan includes the following steps:
You will receive your loan funding for a purchase on the same day. However, refinance funding will require a three-day waiting period.
The standard time for processing home loans in the mortgage industry is about 40 to 50 days. However, at Griffin Funding, we prioritize efficiency. As such, we are often able to qualify our customers for VA loans within 30 days.
If you are purchasing a home, you want to be able to put an offer on the house before another party, so every day that your loan is in progress matters. Unfortunately, in many cases, buyers miss out on their ideal home because the loan process becomes drawn out. However, you can rest assured that the team at Griffin Funding is dedicated to completing your loan as quickly as possible.
Griffin Funding is proud to serve our country’s veterans with favorable VA home loan options and customer-oriented service. We strive to make the loan application process as efficient and enjoyable as possible with streamlined operations, the latest technology, and a common-sense approach to underwriting.
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