Milwaukee and Racine VA Loans
Right now is a great time for veterans interested in moving to Milwaukee or Racine to apply for a VA Loan. The housing prices have come down in recent years, while the VA benefits have increased tremendously, making the entire loan process much more affordable and simpler than with conventional loans. Here are a few of the benefits of a VA Loan, how you can qualify and the steps you need to take to obtain the loan today.
When you apply for a VA Loan in Milwaukee or Racine, you can qualify for a big loan without having to supply a down payment on the property. This is really great for all veterans, especially when you consider the fact that conventional loans typically require around 20% for the down payment on the house. You also will not have to pay for private monthly mortgage insurance because the VA guarantees a portion of the loan for you. The other great benefits of a VA Loan include individual repayment plans, low interest rates, minimal closing fees, quick approval and simple refinancing.
As a current member of the military, you are eligible to qualify for a VA Loan after serving a minimum of 181 days of regular active-duty service. Ex-military personnel must have served this time as well and been honorably discharged from the military. Exceptions to the rules include: veterans discharged early for service-related injury; spouses of POWs; widows of veterans killed in combat; and veterans who served overseas in wartime.
Steps to Obtain the Loan
Before you start looking for a house, it’s a good idea to get pre-qualified for a loan. This way you will know just how much house you and your family will be able to afford. Once you have found the house you want, you will need to go through the loan process with your private lender. This process involves providing financial documents, obtaining your Certificate of Eligibility from the VA, signing the mortgage and all notes and paying the closing fees. After that you are free to start enjoying your new home!
Get Started Today!
Our team of VA home specialists would love to help you get started on your VA Loan today. Pre-qualification is simple, all you need to do is fill out our secure online form and you will be pre-approved in minutes!