Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

Is the VA loan something I should get?

I'm currently active duty Army and I have about 1 year left before I ETS. I herd about a VA loan and I was wondering if i should get one and what exactly does it do? If so, where do i go to get one?

4 Answers

Relevance
  • 10 years ago
    Favorite Answer

    You may find a VA loan officer by looking through a telephone book and finding a mortgage company that does government mortgage loans.

    The veteran administration has set up a mortgage loan program, for veterans that qualify to purchase a house. These programs offer the the veteran a no down mortgage loan program,with little or no closing cost on the part of the veteran.

    You might see if you are qualified for this program by requesting your VA eligibility certificate from the Veteran mortgage center, or you may apply for a VA mortgage loan where as your mortgage loan officer would have you sign a document authorizing him to obtain your VA eligibility certificate to complete your mortgage loan application.

    You may purchase this house in any part of the United States you would wish. You purchase may be for a single family up to a four unit apartment.

    I hope this has been of some benefit to you, good luck.

    "FIGHT ON"

  • Anonymous
    10 years ago

    VA Home Loans are a benefit you are entitled to for honorary discharge. You have this benefit for the remainder of your life. It's the best mortgage program available to entitled veterans and military members. You finance 100% of the purchase price and the qualifications are much easier then traditional mortgages.

    The Department of Veterans Affairs guarantees the loan but you will contact a VA Loan Specialist to get the loan like any other traditional mortgage. Rates are statistically lower and there is many cost saving benefits. When you go to purchase a home don't let anyone talk you out of your VA Home Loan benefit. If you have any other questions call the Best VA Loan Specialist's in the country at (800) 485-2332

  • 10 years ago

    A VA loan is a mortgage loan through a bank.

    It allows veterans/military personnel to purchase a home with no down payment.

  • 10 years ago

    it's one of the benefits you get for military service. it is a loan from a bank to purchase a house. only a house, no car, truck, motorcycle or anything else.

Still have questions? Get your answers by asking now.