The courageous men and women who serve our country and have served it in the past are eligible to apply for a VA mortgage loan to purchase a home. Most lending agencies offer VA mortgage loans to qualified borrowers with a low interest rate.
Here are three facts about applying for a veteran’s mortgage.
• Credit score: Your credit rating will play a role in determining whether you qualify for a VA mortgage. Before you apply, you should request copies of your credit report from three reporting agencies and check them for accuracy. Handle any issues before you apply for your mortgage.
• Verifiable income: You will need to be able to prove that you can make your mortgage payment. You will need to provide proof of all of your income, as well as your expenses to the mortgage lender.
• Proof of military service: If you are currently active duty in the military, you need to provide a signed ‘statement of service’. If you are retired from the military, you will need a ‘certificate of eligibility’ from the Veterans Administration.
To apply for a veteran’s mortgage visit the lending professionals at Midland Mortgage Corporation today.