As a veteran of the United States military, you are eligible for certain benefits that the civilian world isn’t. Veterans volunteered to serve the country and have earned these benefits, so they should take advantage of them. The Veterans Administration (VA) has home loans available that have lower interest rates and better terms for veterans. Zion Mortgage is an approved VA home loan lender in Texas, and we’ll help you get through the red tape.
Find an Approved Lender
This is an important first step. To get a VA loan, you can only use a lender approved by the US Department of Veterans Affairs. Make sure that your lender is approved before going forward.
Get a Certificate of Eligibility
A certificate of eligibility proves that you meet the eligibility standards for VA benefits. It will also let the lender know how much entitlement you can receive. That is the amount that the VA will guarantee for your mortgage.
Pre-Qualify for the Loan Amount
Pre-qualifying is not required, but it’s generally a good idea. Pre-qualifying lets you know exactly how much money you can afford to spend on your home. This saves you, the real estate agent, and the lender a lot of time. There’s no point in looking at homes that you can’t afford.
Start looking at homes! This is the fun part. Take your time and see as many homes as you want. Be sure to look at the property taxes, schools, neighborhood, and local amenities. This is going to be home for a while, so don’t jump into anything.
Lender Processes the Application
A signed purchase contract is the next step. After the lender obtains that, they will order the VA appraisal. A VA-approved appraiser will examine the home and make sure it meets the qualifications for a VA mortgage.
Close on the Loan
Once everyone has signed off on the appraisal and all the paperwork is in order, it’s time to close. During the closing, the property legally changes ownership. You’ll sign all the documents and take the keys. Zion Mortgage is an approved VA home loan lender in Texas that can guide you through the process.