VA Loans and Mortgages for Veterans in Green Bay, Wisconsin
The VA loan is a wonderful and unique loan, as not everyone can qualify. The VA loan is a $0 down payment mortgage option available to Veterans, Service Members and select military spouses. A VA loan will require you to have your COE or Certificate of Eligibility. What this does is tell your lender that you meet the minimum eligibility requirements for a VA backed loan. You can order a COE through your lender, by online methods, or even snail mail.
A VA loan can be used to purchase a single family home, a duplex, a condo, a manufactured home, and can also be used for a new build.
VA Loan Requirements
Some general requirements are that the veteran must owner-occupy the home. In addition the veteran applying for the mortgage must also show a satisfactory credit score and a satisfactory debt to income ratio.
VA Loan Benefits
A few of the many benefits of a VA loans are the lower interest rate than conventional financing, and ZERO down payment. And with zero down payment, an even bigger bonus with the VA loan is no PMI payments. While the Department of Veterans Affairs doesn’t exactly issue the funding (banks and mortgage lenders do) The VA do insure a portion of the loan in case of default, hence, no PMI!
VA Loan Experience in Green Bay, WI
Not sure if you qualify for the VA loan? Come in and see us at Executive Mortgage and we’ll sit down with you and work out your best home loan and mortgage options. Our loan officers are very experienced with all of the VA loan requirements and processes and can ensure the transaction goes smoothly.