At Cedar Creek, we’re proud of all of the clients we serve and provide with beautiful new homes. Perhaps the group we’re most proud of serving, though, with no disrespect to anyone else, is our country’s veterans and active service members, people who protect our country and safety on a daily basis.
Because of this, veterans and their families are often eligible for home loans through the Department of Veterans Affairs. These loans come with very lenient credit and down payment requirements, but with guarantees from the VA that make them perfect for builders and sellers. Here are some tips we can offer our veteran buyers in terms of acquiring a VA loan, then using it to get a great home.
Well before you begin looking for a home, look into various parts of the VA loan. Consider pre-qualification and pre-approval in the same way you would for a conventional loan. The further in advance you do this, the fewer issues you have when it comes time for more involved details.
One big part of the early process here is determining your eligibility for VA loans. Requirements are very lenient, as we noted – you just need to meet at least one of the following conditions to qualify:
- You served on active duty during wartime for at least 90 straight days
- You served during peacetime for at least 181 consecutive days
- You served at least six years in the National Guard or reserves
- You are a surviving spouse of a service member who died in the line of duty, or as a result of a service-related disability
Part of your early preparation will include obtaining a Certificate of Eligibility, which shows your lender you have qualified. You can obtain this online, via mail, or even directly through a lender.
Along with your Certificate of Eligibility, you’ll also need to provide basic documentation of your finances. This may include your credit, your income basics, and others. Standards here are very generous, again.
Finding a Home
From here, it’s time to find a great home. Your loan qualifications will be in place, meaning you’ll know your price range and the limits on your budget. At this point, you can work with us to get the home of your dreams.
For more on how to acquire VA financing as a veteran, or to browse any of our new homes for sale, speak to the staff at Cedar Creek today.