the ins and outs of va loans
TRANSCRIPT
![Page 1: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/1.jpg)
![Page 2: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/2.jpg)
The Veteran’s Affairs Department of
the U.S. government has offered
guaranteed home loans for veterans
for over 70 years.
![Page 3: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/3.jpg)
Both active duty military people and
veterans can acquire financing to
purchase homes through the VA
home loan program.
![Page 4: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/4.jpg)
These mortgages offer benefits that
make them a good option for many
homebuyers.
![Page 5: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/5.jpg)
About the VA Guaranteed Home Loan
![Page 6: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/6.jpg)
VA home loans are guaranteed by
the U. S. government.
![Page 7: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/7.jpg)
This guarantee means that, if you are
unable to pay the loan, the government
will ensure that the lending institution
receives its payment.
![Page 8: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/8.jpg)
However, this guarantee of repayment is
a desirable feature for lenders, who will
be more inclined to provide the loan to
the applicant.
![Page 9: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/9.jpg)
Most of the usual requirements for a
loan apply, but the applicant must
also provide documentation of their
service record.
![Page 10: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/10.jpg)
Advantages of VA Guaranteed
Home Loans
![Page 11: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/11.jpg)
Home buyers find that a home loan
through the VA program offers a
number of advantages:
![Page 12: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/12.jpg)
· No down payment is required if
the price of the home does not
exceed the appraised value.
![Page 13: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/13.jpg)
· Private mortgage insurance is not
required, which keeps monthly
mortgage payments low.
![Page 14: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/14.jpg)
· Closing costs may be paid by the
seller of the property.
![Page 15: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/15.jpg)
· Closing costs are limited
by VA rules.
![Page 16: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/16.jpg)
· No early payment penalty
can be imposed.
![Page 17: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/17.jpg)
· The VA can offer advice and
practical help if you have trouble
paying for your home mortgage.
![Page 18: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/18.jpg)
Eligibility Requirements
![Page 19: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/19.jpg)
Applicants are required to provide a
certain amount of documentation, just
as they would for a conventional loan,
such as:
![Page 20: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/20.jpg)
· Social security numbers and
valid ID
![Page 21: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/21.jpg)
· Certificate of Eligibility that
provides information on your current
service, dates of previous service,
discharge papers, or service benefits
statements
![Page 22: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/22.jpg)
· Proof of employment, names of
employers for the last two years. If
self-employed, you must provide the
last two federal income tax returns.
![Page 23: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/23.jpg)
· The last 60 days of statements from
checking and savings accounts
![Page 24: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/24.jpg)
· The purchase contract
![Page 25: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/25.jpg)
· The appraisal of the property
![Page 26: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/26.jpg)
· Assurance that you will occupy the
property yourself
![Page 27: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/27.jpg)
· Credit record
![Page 28: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/28.jpg)
· Credit card statements
![Page 29: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/29.jpg)
· Child care expenses
![Page 30: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/30.jpg)
· Corrections or clarifying information
on negative credit reports
![Page 31: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/31.jpg)
Lending Institutions That
Offer VA Loans
![Page 32: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/32.jpg)
Not all lending institutions offer VA
home loans. However, many do, and
these lenders may have departments
or personnel who are trained in the
special requirements of the VA
program.
![Page 33: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/33.jpg)
The lending institution is not obligated to
provide a loan to those who apply.
However, these institutions understand
that having the loan amount guaranteed
by the government makes it an attractive
risk.
![Page 34: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/34.jpg)
Refinancing A Home Through the
VA Home Loan Program
![Page 35: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/35.jpg)
The VA loan program also has
a method of refinancing home
loans to make your mortgage
more affordable.
![Page 36: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/36.jpg)
The Interest Rate Reduction Refinance
Loan, often called the IRRRL, is a
streamlined process that allows
homeowners who have VA guaranteed
loans to refinance at a lower interest rate,
without having another appraisal or credit
underwriting to qualify.
![Page 37: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/37.jpg)
Any costs of the refinancing can be rolled
into the new loan, so that the applicant
does not have to provide out-of-pocket
money during the process. Both fixed rate
and adjustable rate mortgages are
available.
![Page 38: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/38.jpg)
Our VA Loan Specialist helps veterans
obtain the loans they are entitled to.
![Page 39: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/39.jpg)
He served in the United States Marine
Corps, and now devotes himself to the
Veteran home buyer in the Phoenix area,
fulfilling a passion of his while at the same
time helping others achieve home
ownership.
![Page 40: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/40.jpg)
Be a proud homeowner today.
![Page 41: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/41.jpg)
For more details call 480-351-5904
or visit the site
www.valoansforvets.com
![Page 42: The Ins and Outs of VA Loans](https://reader031.vdocuments.site/reader031/viewer/2022032617/55a998ce1a28abb4758b45b7/html5/thumbnails/42.jpg)
VA Loans for Vets
7702 E. Doubletree Ranch Road, Suite 220
Scottsdale, AZ 85258
Phone: (480) 351-5904
Email: [email protected]