Wyoming VA Loans
For qualified veterans looking to purchase houses in Wyoming, right now is a great time to buy or build a new home with a VA Loan. Since starting the home loan guaranty program in 1944, the VA has helped place millions of veterans and their families into houses across the states. Today, the VA has raised loan limits in most counties across Wyoming, which means you can get an even bigger loan than ever before. This, combined with the recent drop in housing prices in Wyoming, has made it more affordable than ever to find your dream house.
Benefits
When you go through the VA to obtain your new loan you won’t have to supply a down payment on the house first. This is a huge benefit as the down payment with a conventional loan can sometimes be as much as 20% of the cost of the house. Other great benefits include low interest rates, minimal closing fees, flexible repayment plans, easy refinancing and quick approval.
How to Qualify
Current military members in Wisconsin can qualify if they have served 181 days of regular active-duty service. Veterans qualify for serving 181 days with an honorable discharge from the military. If you served overseas during wartime in WWII, Vietnam or Korea, you are eligible if you served 90 days. In order to obtain the loan, you will need to fill out an eligibility form which can be found on the VA’s website. Once you have been approved the VA will issue you a Certificate of Eligibility (COE) through the mail.
What’s Next?
After you have your COE you can then either start house hunting right away or go straight to your lender. You can choose between a bank, mortgage company or savings & loans for your private lender as long as they participate in the VA Loan Guaranty Program. When it comes to the actual loan process, it is very similar to obtaining a conventional loan. You will need to provide all credit checks, pay the closing fees and sign the mortgage and all other notes.
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