Charlotte, Gastonia and Rock Hill Areas VA Loans
For military personnel and veterans in North Carolina, now is a great time to buy a house in the Charlotte, Gastonia and Rock Hill areas. Eligible veterans looking to relocate to these cities will be able to take advantage of the VA Loan guaranty program.
VA Loans have made buying homes much easier and more affordable for veterans and their families. Right now is a great time to buy while loan limits are high and housing prices are low.
How to Qualify
Qualifying for a VA Loan is very easy. If you are currently in the military you are eligible for a VA Loan after 181 days of continuous, regular service. For Veterans who served overseas during wartime, you qualify if you served 90 days and were honorably discharged.
Before applying for a loan through the VA you will first need to fill out an eligibility form. These can be found on the VA website and either sent through the mail or electronically. Obtaining the loan itself is also easy. Even if you can’t qualify for a traditional loan due to poor credit, the VA is much more lenient and willing to approve veterans.
What is a VA Loan?
The VA itself does not issue the money for the loan, but guarantees up to half the loan amount from a private lender. What this means for you is that you won’t have a down payment or monthly insurance. Private lenders are also more willing to give you a lower interest rate with a VA guaranty.
With a VA Loan you also have more flexible repayment options to choose from. The repayment plans include traditional fixed, graduated mortgage payment, growing equity mortgage, traditional ARM and hybrid ARM.
Once you have a VA Loan refinancing is a cinch. With the Interest Rate Reduction Refinancing Loan (IRRRL) you can get a new mortgage without filling out more paperwork or incurring more costs.
Charlotte, Gastonia and Rock Hill are all great places to buy a house, whether you plan on starting a family or have decided to move off base. With a North Carolina VA Loan you will be able to make homeownership a reality. Get started by filling out our 1-minute va loan quote.
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