Kentucky VA Loans
If you are a qualified veteran thinking about buying or building a house in Kentucky, you will definitely want to consider going through the VA to obtain your loan. The VA has made it incredibly easy and affordable for veterans to purchase new homes in Kentucky by making the entire process much more affordable. Since 1944, the VA Loan Guaranty Program has helped put millions of veterans and their families into their dream homes across America.
Benefits
With a VA Loan you are not required to provide a down payment on the house. This is a great deal for first time homeowners who might not have the sufficient funds saved up for the hefty down payment often associated with conventional loans. You also will not have to pay private monthly mortgage insurance. In addition to these two great benefits, you will also be able to take advantage of low interest rates, low closing costs, flexible repayment options and streamlined refinancing.
Who Qualifies
In order to qualify for a VA Loan in Kentucky, military members must have served a minimum of 181 days of regular active-duty service. Veterans who served overseas in wartime qualify after 90 days, and 181 days during all other active-duty service. For ex-military personnel, you must have been discharged under honorable circumstances. Be sure to fill out an eligibility form before you start the loan process to make sure you qualify.
Steps to Obtaining a Loan
Once you have your Certificate of Eligibility, you can go ahead and get pre-approved for a loan. While it’s not necessary to get pre-approved, it’s a good way to figure out just how much you will be able to afford when house hunting. Once you’ve found the house of your dreams you will need to start the loan process with the private lender of choice. This process is similar to obtaining a conventional loan – you will need to supply credit and income information, sign necessary documents and pay the closing fees.
Get Help Today
It’s never been easier to get started with a VA refinance. Simply fill out our secure 1-minute quote request form and start comparing rates today.
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