I have never quite understood why website owners who focus on VA Loans like to publish the full list of military service requirements for VA eligibility guidelines. I’m looking at a list now and my eyes blur over as I sift through all of the different possible scenarios where a Vet may be eligible. For me, if I were a Vet, this list only makes me want to move on to the next VA mortgage company website versus trying to find something on here where I fit it.

The key to your eligibility for a VA loan if you are prior military service is your discharge paperwork – DD214. If you have this document and know that you were honorably discharged then you are most likely eligible for a VA loan.

If you are considering a VA loan to purchase a home or to refinance your current home and you are prior military your next step should be to either go straight to the VA to see if you can get a certificate of eligibility or go to a VA mortgage lender and ask them to help you get your certificate of eligibility.

The same can be said if you are active military either full active duty or you are a reservist or national guard. If you have been in service for a certain amount of time then you may be eligible for a VA home loan. Your best bet is to contact a VA lender to have them walk you through the application process as well as proving your eligiblity for a VA mortgage.

Once you determine whether you are eligible for a VA mortgage, then you will have to qualify just like just about every other mortgage program out there. You will need to be employed, have good credit, and not owe too much in debt. For program loan specifics and to determine your exact mortgage qualification situation with a VA mortgage loan officer.

VA Loan Eligibility – Is It Really That Hard? is a post from: Florida Mortgage Team

LowVARates is not a government agency, is not affiliated with the Department of Veterans Affairs, and is not a mortgage lender. LowVARates is a website dedicated to educating and assisting eligible veteran homeowners in their pursuit of homeownership through the VA loan program. One of the things that LowVARates does better than the other online websites for VA loans, is educate the veteran and assistive veteran in finding the right VA lender for their situation.

Let’s take a look now at what LowVARates feels are the top three VA approved lenders to work with in today’s lending environment.

#1. Flagship financial group LLC is an approved VA lender and also has the ability to act as a VA broker when the situation necessary. Flagship brands to the veteran the unique ability to fund VA loans as a lender when it makes sense for the veteran and also flagship has the ability to broker the VA loan if there is a product that flagship does not offer which would be better suited for the veteran home owner. Because flagship has the ability to both fund loans in its own name into broker loans, LowVARates feels that this is a major benefit in today’s difficult lending environment. As you will see with some of the other VA lenders which are recommended, if they are not willing to broker a loan the other lenders could be less efficient in some areas.

#2. Wells Fargo is one of the most recognized names in the VA loan industry. Approved VA loan specialists have indicated that over the past two years some of the nation’s most reliable and efficient VA lenders have been forced out of business due to the extreme volatility in the housing market. In the past a bank’s ability to stay in business in function properly would not have been an attribute which gave such value to a mortgage originator or veteran homeowners looking to buy a home. However, Wells Fargo has brought stability, efficiency, and certainty to the VA lending market. Loan originators or VA loan officers have indicated that the interest rates, the processing flow, and the wide array of government loan products are the main reasons why they choose to work with Wells Fargo.

#3. MetLife Home Loans has a very unique history as it pertains to the VA home loan. MetLife is better known as an insurance provider, however.

Best VA lenders to work with from one VA originator’s experience is a post from: Florida Mortgage Team

Is there a minimum credit score for the VA streamline refinance in Florida? It depends who you ask – and no, I am not kidding.

You see, officially speaking – the VA/FHA streamline refinance programs have no officially credit score requirements. Ok, so now that you see that — before you think that there is no credit score requirements for VA streamline refinances…

Some lenders do require that you have a minimum credit score.

Some lenders require a 620 for the VA streamline refinance program.

Some lenders require a 640 for the VA streamline refinance program.

And some lenders still do not have a credit score requirement for the VA streamline refinance program.

To make it somewhat even more confusing, these guidelines are changing all the time and can change at any time in the future. So if you have been told by a loan officer that there are “new” credit score requirements for the VA streamline refinance program – he isn’t lying — it is true that his employer or maybe the lenders that he uses have recently started requiring a minimum credit score on all VA streamline refinance loans, but it doesn’t mean that they all have.

So if you have been told that there are minimum credit score requirements for the VA streamline refinance program, be sure to shop at least a handful of lenders who can help you.

Florida VA Streamline Refinance: Is A Minimum Credit Score Required? is a post from: Florida Mortgage Team