VA Home Loan Lender

VA home loan lenders issue loans to United States veterans, military reserve, active military personal, and their spouses. A VA home loan lender provides loans to purchase a house, to build a house, make improvements on a house, refinance a mortgage, etc. These companies strive to provide equal opportunity to veterans and their spouses.

The money from the VA home loan lender must be used to purchase a house in the United States, Puerto Rico, Guam, Virgin Islands, American Samoa and Northern Mariana Islands. Veterans living and/or serving in the military overseas most likely will not qualify to purchase a house in a foreign country. For example if the soldier is stationed on a base in South Korea that does not provide housing for his wife and children, he will not be able to purchase a house in South Korea using the Veterans Administration loan money.

Several repayment options are available to approved applicants. The borrower may choose to have a fixed monthly payment, have a gradual increase in monthly payments, or give the mortgage company a large sum of money at the beginning of the mortgage to forgo paying a monthly loan payment for a few years. A VA home loan lender strives to provide quality services to United States veterans. Soldiers or veterans who need a new house or need to make home improvements should check out their local lenders for a program that is right for them. When choosing a lending option, it would be wise to seek God's assistance. In God's Word it states this: "...he is mighty in strength and wisdom." (Job 36:5) Ask God to share some of His wisdom when deciding what Veterans Administration programs or companies are best.

Pre-qualification is the goal for most VA home loan lenders. To qualify for the program, the applicant will need to prove that he or she served during World War II, Korean War, Vietnam War, and Persian Gulf War. Also, any peacetime service will qualify applicants if their service dates fall between 1947 until 1981. The applicant must have been honorably discharged or released from the military. Any dishonorable discharged veterans will not be eligible. VA home loan lenders can not accept applicants who served during World War I or applicants currently serving in certain classifications of the United States Reserve or National Guard. There are other federal mortgage programs that they can participate in.

Applicants can still expect a credit history check and income verification. A lender can be found through any local chamber of commerce, recommendations from other veterans, or their local Veteran's Association office. Most lenders are willing to help applicants compile the necessary documentations or proof of eligibility to apply. A VA home loan lender will issue a mortgage that will mature up to thirty years.

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