North Carolina VA Loans
Right now has never been a better time to purchase or build new houses in North Carolina with a VA Loan. Housing prices are incredibly low while the loan limits in most North Carolina counties are very high. If you are a qualified veteran, you will want to take advantage of the many benefits of using a VA Loan that make the loan process much simpler and more affordable than conventional loans.
When you apply for a VA Loan in North Carolina, you won’t have to supply a down payment on the house. This is hugely beneficial to everyone, especially first time homeowners and young couples who don’t have the necessary funds for a hefty down payment. Additionally, you won’t be required to pay private monthly mortgage insurance because the VA already guarantees a portion of the loan for you. Other great benefits include low interest rates, minimal closing fees, easy refinancing, quick approval and flexible repayment plans.
How to Qualify
In order to qualify for a VA Loan in North Carolina, you must have served a minimum of 181 days of regular active-duty service. Veterans must have also served this time and been discharged under honorable circumstances from the military. There are some exceptions to the rules where the timeframe is reduced. These exceptions include veterans who served overseas in wartime, widows of veterans killed in combat, spouses of POWs and veterans discharged early for service-related injuries. If you do fit the requirements, you will need to fill out an eligibility form with the VA. Once they have reviewed and approved the application you will be sent a Certificate of Eligibility (COE) in the mail.
Once you have your COE you can either start looking for houses or get pre-approved for a loan. The lender you choose can be either a bank, savings & loans company or mortgage company. The only requirement is that they participate in the VA Home Loan Guaranty Program.
Find out how much you can qualify for today by filling out our secure online 1 minute VA Loan form. Once you have filled out a form our VA specialists will contact you to help you get started on the road to homeownership.