Oklahoma VA Loans
Qualified veterans looking to relocate to Oklahoma can now get houses with no down payment when done through the VA. Since 1944 the VA has been helping veterans and their families realize the dream of homeownership by making the loan process easy and affordable. Right now the loan limits are higher than ever in Oklahoma counties, making it possible to get big, fancy homes without a down payment.
Benefits
Besides not having to put a down payment on your house, you also won’t be required to purchase private monthly mortgage insurance. The other benefits include, but are not limited to, low interest rates, flexible repayment plans and easy refinancing. In addition to the financial benefits, you also get the full support of the VA. If you ever have questions, concerns or are having trouble making payments, the VA is there to help you out in any way they can.
How to Qualify
If you are a current member of the military, you can qualify if you have served 181 days of regular active-duty service. Ex-military qualify if they served 181 days and were discharged under honorable circumstances. The timeframe drops to 90 days for veterans who served overseas during wartime in WWII, Vietnam and Korea. Exceptions to the rules include widows of veterans killed in combat, spouses of POWs and veterans who were discharged early for service-related injuries.
Certificate of Eligibility (COE)
In order to obtain a VA Loan you will need to fill out an eligibility form with the VA. The form can be found on the website and submitted electronically or through the mail. Once your application has been reviewed and approved, you should receive your COE shortly which you will then need to present to your lender.
Choosing a Lender
Because the VA doesn’t actually issue the loan itself, you have many options when it comes to what lender you can use. You can go through a bank, savings & loans or mortgage company as long as they participate in the VA Loan Guaranty Program. You can even get pre-approved today so you know just how much you can afford.
Oklahoma Metros
Find Out What You Qualify For
Want to find out how much you qualify for? It’s never been easier. Just fill out our secure 1-minute quote request form and you can get a rate quote today.
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