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Prequalify for Your VA Loan
Prequalifying gives you a general idea about your borrowing power as a veteran. If you prequalify for
a VA loan, it means that you have told a lender what your income and assets are,
and that based on those statements, you should be able to qualify for a given loan.
Keep in mind that prequalifying merely gives you an estimate based upon the information you
provide. Prequalifying can give you an estimate of how much you can afford in a mortgage payment.
Prequalifying for a mortgage will help answer these questions:
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Once you are Prequalified for a specific loan amount, you will
enjoy the following advantages:
- House Hunting with Confidence:
Knowing that your mortgage loan is already approved, you can look for your new home with the confidence that the closing process will be smooth and easy.
- Negotiating Power:
With your financing secured and a closing date guaranteed, sellers know that your offer is solid.
- Flexibility:
Although our pre-approvals will be for a specific loan amount, we realize that your loan requirements may change. Simply call us if you need to change your loan amount, or the term or type of loan.
- Service Excellence:
Our service is outstanding and we will answer all of your mortgage questions promptly and thoroughly.
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FREQUENTLY ASKED QUESTION # 6 [ -more VA Loan questions- ]
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Q: I am a Veteran who purchased a home with my spouse utilizing my VA eligibility. I am now divorced and my spouse was awarded the home. How do I get my eligibility back?
A: When the property is awarded to the Veteran's spouse as a result of the divorce, entitlement cannot be restored unless the spouse refinances the property and / or pays off the VA loan in full or the ex-spouse is a veteran who substitutes their entitlement.
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VA Loan Rates
for 9/07/2008
30 year fixed
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0.000 points
6.500%
6.618% APR
15 year fixed
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0.000 points
6.500%
6.500% APR
Life Insurance for Military Members
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