Utah VA Loans

Today, with a VA Loan it is possible to buy beautiful houses across Utah with absolutely no down payment necessary. This is hugely beneficial for veterans looking to relocate, build a new house or upgrade to a bigger family home. In addition to not having to supply a down payment for a new house, you will also be able to negotiate low interest rates, pay minimal closing fees, choose from many repayment options and refinance easily down the road.

How to Qualify

Ex-military personnel must have served 181 days of regular active-duty service and been honorably discharged in order to qualify for a VA Loan. Veterans who served overseas in wartime in WWII, Vietnam or Korea are qualified for serving 90 days. Current members of the military must have served the minimum of 181 days. Be sure to check out any exceptions to the rules if you do not fit into any of these categories. Once you have decided to apply, you will need to fill out an eligibility form on the VA’s website.

Obtaining the Loan

Once you have been issued with your Certificate of Eligibility (COE) you will be free to either get pre-approved for a loan or start shopping for your new house right away. Once you have chosen a lender and a house you will need to go through the same steps as you would with a conventional loan. These steps include providing credit scores and financial documents, having the house appraised, paying closing fees and signing the mortgage note.

Refinancing

If you already have a conventional loan, it is still possible to refinance with a VA Loan. In order to refinance with the VA you will need to go through all the same steps as you would for obtaining a brand new loan. Remember that you are not required to use your original lender, so be sure to evaluate all your options first.

Going through the VA to obtain your loan is a great idea for all qualified veterans. With a VA Loan you not only get to take advantage of the many benefits, but you also get the full support of the VA behind you whether you have questions, concerns or trouble making payments.

Utah Metros

Salt Lake City, Provo, Ogden VA Loans

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