What is a VA Loan?
· A loan guaranteed by the US department of Veterans
Affairs· Designed to provide housing assistance for veterans and their families
· There are over 29 million American veterans and service personnel who are eligible for VA loans
· Eligible if she or he has served on activity duty and was discharged under conditions other then dishonorable
· 2 year service requirement
o Continuous months
o Or 90 days during war time
· Unmarried surviving spouse of veteran who died during duty
· Must provide a certificate of eligibility from department of veteran affairs which can be ordered online
· Can only have one VA loan at a time but you can have one VA and one FHA at a time, so 2 government loans (only one of each is allowed)
·Max guaranty amount loans over $144,000 is 25% of VA County limit
· All applicants need:
o To complete a full mortgage loan application on the form 1003 (Uniform Residential Loan Application)
o Residence address for past 2 years
o Names and address for employers for past 2
years with gross monthly salary
o Names address and account numbers to checking and
savings
o Names addresses and account numbers to monthly
payments on all open loans
o Address and loan information for other owned real
estate
o DD214 - Certificate of eligibility - https://vip.vba.gov
o W2s for past 2 years and current check
stubs
o Tax returns for past 2 years
FOR PRE-APPROVAL :
http://pmcmortgageloans.com/mortgage_application.phpOR CALL 1 800-385-3657
First, Complete out a loan application on our website -Go tohttp://www.pmcmortgageloans.com
-Click on Apply Now at the top
-Scroll to the middle of the page and Click on 3. Full Application
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