VA Loan Eligibility For San Antonio Homes For Sale
Posted by Randy Kelley on July 27, 2010
Do you have questions about your VA eligibility for buying a San Antonio home?
Your eligibility is determined on a case-by-case basis by the Department of Veteran Affairs and is proven by a Certificate of Eligibility showing the amount of your entitlement.
To be considered for a VA home loan, you must meet one or a combination of these basic military service requirements:
90 days of active duty during wartime
181 days of continuous active duty during peacetime
6 years of service for Reservist/National Guard
Must you have an honorable discharge to qualify? Perhaps not. When it comes to the question of discharge type, the VA determines eligibility on a case-by-case basis.
The VA’s issuance of your Certificate of Eligibility (COE) is essential before you apply for your VA backed home mortgage. It tells the lender the amount of your entitlement.
So, what’s so great about a VA home loan? Basically, it’s a wonderful reward for your dedication and service to your country. Specifically, you’ll enjoy:
No down payment (100% financing)
No private mortgage insurance (PMI)
Relaxed qualifying standards
Competitive interest rates
No penalties for mortgage pre-payment
Cash-out and debt consolidation
Streamline rate reduction
For more information on your eligibility, you should contact the U.S. Department of Veterans Affairs, or speak with a VA loan professional at your credit union, bank, or at a mortgage brokerage.
We can help you find a VA loan expert. Contact us.
We’re Stephanie and Randy Kelley, Realtors® of Keller Williams Legacy, San Antonio, Texas. If you have questions, need San Antonio realty or mortgage loan advice or assistance, or just want to chat a bit about the wonderful Alamo City, please call us at (210) 863-2661 or (210) 867-8743, or E-mail us at swkrealtor@aol.com or kelleybus@aol.com. Our SanAntonioHomeQuest.com Realty Solutions Team is always ready to help you with your home buying or selling needs.
Labels: Homes For Sale San Antonio, PCS San Antonio, San Antonio Army PCS, San Antonio Physician Loan, San Antonio Real Estate, San Antonio Realty, San Antonio Realty Market Report
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