Veteran Administration Loans

Those who have put their lives and well-being on the line through military service to our country deserve special treatment with regard to home ownership. Whether active or off-duty, if they meet certain minimum qualifications, they may obtain preferential rates without any down-payment on the purchase of a personal residence. They would also be exempt from their personally paying certain closing costs, as well.

Preapproval is based upon a Letter of Entitlement (LOE). An LOE is not automatically given a service person as is the DD214. It does take, however, a DD214 to obtain an LOE The LOE gives the amount of the mortgage protection given the individual. That amount is considered a total amount and may be diminished and increased upon use and sale. If the mortgage amount is too much for the available entitlement, the service person may have to pay the difference out of pocket. As long as at least one dollar of entitlement exists, the qualified service person may get a VA loan.

For more information on VA loans, please contact us or, if you want to apply for one or for preapproval, you can go to our secure application site.