Considerations For Getting A VA Loan For Your Move  

Veterans and active service members who are thinking about moving should consider a Veterans Administration home loan (VA Loan). Special VA programs and guarantees are available to make it easier to get mortgages, refinance a home, and make home repairs and improvements. And with interest rates low, it’s a good time for soldiers and veterans to make a move.

Benefits of a VA Loan for Your Move

Before you move, when looking for a loan, be sure to explore all your options to get the best rate and payment plan to suit your needs.

VA loans can be a good choice because:

• The VA is more forgiving of credit scores. Many lenders want a credit score of 720 or better for their lowest rates, but the VA will typically only look at the past year of credit history.
• The VA doesn’t require a large down payment. Most mortgages and real estate loans require a 20 percent down payment, but VA loans may not require a down payment at all.
• VA loans can be easily refinanced. Once you have a VA loan, you may be able to use the Streamline Refinance Loan program to get a lower rate without re-qualifying.
• Fees may be waived by the VA. Veterans with a service-related disability may have funding fees waived.

Qualifying for a VA Loan: What You Need

As you prepare to move and look for a new home, collect information you will need to qualify for a loan. Terms are easier with a VA loan, but expect to provide:

• A good credit history for the past 12 months
• Proof you are able to afford to make loan payments
• A Certificate of Eligibility: This states you are eligible for the VA loan because you are a service member, veteran, or surviving spouse.

How to Apply for a VA Loan Program

VA loans are provided through private lending companies such as banks and mortgage companies, not the VA itself. You can apply for the program with the VA or with your mortgage lender. The VA encourages applications through lenders, who usually have plenty of experience with VA loans and can answer questions about the program. These lenders may have the means to supply very fast results.

Ready to Move? Few Moves is Ready to Help

Once you’ve ironed out the details and you’re planning your move to your new home, call Few Moves Moving Company at (919) 999-6201 in Raleigh or (910) 512-6999 in Wilmington, NC. Few Moves has all the resources and experience you need to move quickly, efficiently, and safely.