Columbus Ohio VA Loans
If you are a veteran looking to relocate to Columbus, Ohio, you should absolutely consider going through the VA for a loan. The VA Loan guaranty program has made it possible for millions of veterans to realize the dream of home ownership by making the whole process easy and affordable. Today, with lower housing prices and higher loan limits, buying a house in Columbus is more affordable than ever. So whether you are looking to move off base or upgrade to a big family home, you will want to explore all your options with a VA Loan.
What are the Benefits?
The benefits of having a VA Loan are numerous. For starters, when you buy a house with a VA Loan you won’t have a down payment – no money is required up front. This is possible because the VA guarantees up to half the total loan amount, making it secure for the private lender. Because the VA guarantees the loan, you also don’t have to pay Premium Mortgage Insurance. This helps reduce your monthly payments, making the whole loan that much more affordable. Once you have a VA Loan, refinancing is also a cinch with the Interest Rate Reduction Refinancing Loan (IRRRL). As long as the borrowers on the loan don’t change, the IRRRL requires no additional paperwork and no out-of-pocket expenses.
How do I Qualify?
In order for you to qualify for a VA Loan in Ohio, you must first establish your eligibility with the VA. This can be done by filling out a form on their website to be submitted electronically or through the mail. The basic requirements state that you must have served 181 days of regular active-duty service in order to be eligible. Veterans also qualify if they served this amount of time and were honorably discharged. If you don’t fall into these two categories, you may want to check out all the exceptions and special circumstances to see if you can still qualify.
Houses in Columbus have never been lower. Combine this with the wide-sweeping benefits of a VA Loan and you will be able to get your dream house for an incredible deal.
Find out what you qualify for by filling out our 1-minute quote request form. You can start comparing rates today!
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