Los Angeles VA Loans
For qualified veterans looking to purchase a new house in Los Angeles, right now has never been a better time. With a VA Loan, it is possible to afford big, beautiful houses in Los Angeles without spending exorbitant amounts of money obtaining the loan. Whether you are looking to relocate your family, build your dream house or upgrade to a bigger family home, with a VA Loan the process is much simpler and more affordable than with a conventional loan.
No Down Payment
When you use a VA Loan to purchase your new house in Los Angeles, you won’t be required to provide a down payment on the house. With a conventional loan, you might have to pay upwards of 20% of the total cost of the house for a down payment which can get quite expensive. This feature has made it possible for millions of veterans and their families to realize the dream of homeownership all across the US.
Additional Benefits
In addition to the no down payment feature, you will also not be required to pay private monthly mortgage insurance. This is because the VA guarantees a portion of the loan which is basically the same as insuring it for that amount. Other great benefits include low interest rates, flexible repayment options, easy refinancing and minimal closing fees.
How to Qualify
In order to qualify for a loan, you must prove your eligibility with the VA by filling out the eligibility form found on the VA’s website. Their rules state that current members of the military must serve 181 days of active duty service to be eligible, and veterans must have also served this length of time and been honorably discharged. Once the VA has reviewed your form you will be issued with a Certificate of Eligibility (COE) which you will need to present to your lender.
Choosing a Lender
You have the ability to choose any lender you like as long as they participate in the VA Loan Guaranty Program. It’s a good idea to get pre-approved before you start house shopping so you know just how big of a loan you can qualify for.
Get Started Today and Save
Getting started is easy. Fill out our 1-minute quote request form to see if you qualify.
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