Oregon VA Loans
The beautiful, natural landscape and progressive, clean cities in Oregon have made it a very desirable place for people to relocate to. This has made housing prices across the state jump in price, making it harder for good, affordable deals to be found. However, for qualified veterans it is still possible to buy big family homes in Oregon for very little when done with an Oregon VA Loan. The VA Loan Guaranty Program has made it easier than ever for veterans and their families to afford the house of their dreams.
Benefits
If you are planning on buying a house in Oregon, you will definitely want to take advantage of the many benefits of using a VA Loan. For starters, when you use a VA Loan to purchase your new house, you are not required to provide a down payment. You are also not required to pay private monthly mortgage insurance. Other benefits of going through the VA include minimal closing fees, low interest rates, flexible repayment options, simple and affordable refinancing and easy approval. Compared to a conventional loan, a VA Loan is a much simpler and more affordable process over all.
How to Qualify
In order to qualify for an Oregon VA Loan you must first establish your eligibility with the VA. The VA requires that its military members serve a minimum of 181 days of regular active-duty service in order to be eligible. There are also specific rules and exceptions for veterans and their families, so be sure to check out all your options. If you are eligible, you will need to fill out an eligibility form through the VA’s website. Once they have reviewed and approved your status you will be issued with a Certificate of Eligibility (COE) which you will need to present to your private lender.
Choosing a Lender
You have many choices when it comes to private lenders, so it’s up to you whether to use a bank, savings & loans or mortgage company. It’s important to know that the VA Loan is not a gift, but an amount of money that must be repaid, so be sure to shop around for different lenders to see what the perfect fit for you is. You may even consider getting pre-approved to see how big of a loan you can qualify for.
Oregon 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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