VA loan family – Semper Home Loans

VA Home Loans

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As an approved lender, Semper will help you get pre-approved and guide you through the process of applying. Below is everything you need to know about eligibility and document requirements. Check it our before you get started with your VA Home Loan.

What is a VA Loan?

A VA Loan is a loan backed by the U.S. Department of Veterans Affairs and since the program’s inception in 1944, has guaranteed over 20 million loans. VA Loans can be used to
  • Buy a home, a condominium unit in a VA-approved project
  • Build a home
  • Simultaneously purchase and improve a home
  • Improve a home by installing energy-related features or making energy efficient improvements
  • Buy a manufactured home and/or lot
  • To refinance an existing VA-guaranteed or direct loan for the purpose of a lower interest rate
  • To refinance an existing mortgage loan or other indebtedness secured by a lien of record on a residence owned and occupied by the veteran as a home

Who Qualifies for a VA Home Loan?

VA Loans have specific qualifications based on your time and type of service, but it is generally considered for active military personnel, veterans who served at least 90 days, Selected Reserve and National Guard personnel, or the spouse of a service member.

Why Choose a VA Loan?

Many veterans find VA Loans immeasurably helpful in securing a home.  Some benefits of the VA Loan include
  • 0% down payment
  • No prepayment penalties
  • No need for private mortgage insurance
  • Loans are assumable by qualified borrowers
  • Veterans may reuse entitlements

What Information Will You Need to Apply?

  • Your DD-214  –  a document that details your military service history as well as your terms of separation if you are no longer in active duty. If you’ve misplaced or can’t find your DD-214 another copy can be ordered from National Personnel Records Center.
  • Statement of Service  –  If you are an active duty service member, you will need to provide a Statement of Service on official letterhead. This document includes service start date and is signed by a senior officer or assistant. It should also include your full name, social security number, and date of birth; Branch of service and rank; Last discharge and type of discharge; and, for reservists, a note addressing whether you’re an active reservist or currently in inactive status.
  • Certificate of Eligibility  –  the COE is evidence that you are eligible for a VA Loan and that you meet the minimum VA standards. To get your Certificate of Eligibility you can either file a 26-1880 form with the VA personally or let us help you! We can access your COE in minutes and it won’t cost you a dime.
  Semper Home Loans is a VA approved lender and can help you figure out if you qualify for a VA Home loan. These loans can be used for purchase, new construction, or refinance. Interested in a free quote? Click Here Ready to Apply? Click Here

Categories: Choosing a Loan, Loans, VA Home Loans