How To Apply For A VA Loan Online - PowerPoint PPT Presentation

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How To Apply For A VA Loan Online

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"Jimmy Vercellino, VA Loan Specialist helps veterans obtain the loans they are entitled to. He served in the United States Marine Corps, and now devotes himself to the Veteran home buyer in the Phoenix area, fulfilling a passion of his while at the same time helping others achieve home ownership. Be a proud homeowner today. For more details call 480-351-5904 or visit the site VA Loans for Vets 7702 E. Doubletree Ranch Road, Suite 220 Scottsdale, AZ 85258 Phone: (480) 351-5904 Email: jimmyv@fcbmtg.com" – PowerPoint PPT presentation

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Title: How To Apply For A VA Loan Online


1
HOW TO APPLY FOR
A VA LOAN
ONLINE
2
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3
Home ownership is a big step and can be a
daunting process for anyone. With the assistance
of the VA home loan programs, though, you can
simplify the process and make your dream home a
reality.
4
There are three different types of VA loans
offered, each with specific eligibility criteria.
However, you can obtain the information you need
and apply online quickly and efficiently.
5
How Do
VA LOANS WORK?
6
A VA loan is a home loan that is backed by the
department of Veterans Affairs (VA) for
individuals who have served or are presently
serving in the military.
7
The VA does not provide money for the loans
however, it backs loans made by private lenders
to veterans, active military personnel and
surviving military spouses who meet the
eligibility requirements.
8
There are three types of VA loans available
  • Purchase loans.
  • Cash-out refinance loans.
  • Interest-rate-reduction refinance loans.

9
While there are a number of different benefits to
the VA loan program, one of the greatest
advantages is that no down payment is required to
purchase a home.
10
This qualification alone can make home ownership
possible for active military personnel or
veterans who might not otherwise be able to
afford it.
11
Who Qualifies for VA Loans?
12
The VA home loan program was created to serve
active military personnel, veterans and surviving
spouses.
13
Individuals who can benefit from the program
include
  • Veterans.
  • Active-duty service members.
  • Reserve members.
  • National Guard members.
  • Some surviving spouses.

14
To be eligible, individuals must have
  • Suitable credit.
  • Sufficient income.
  • Valid Certificate of Eligibility.

15
Additionally, individuals who take advantage of
the program must use the purchased home for their
own personal occupancy.
16
How Do You Obtain a Certificate of Eligibility?
17
Once you have determined that you are eligible,
youll need to obtain a valid Certificate of
Eligibility or COE.
18
This certificate verifies that you indeed are
eligible for a VA-backed loan. To attain the COE,
you will need to submit the evidence required to
verify your eligibility.
19
The exact evidence varies depending upon the
nature of your eligibility however, most require
some combination of the following
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DD Form 214 that includes
  • Character of service
  • Reason for separation

(Veterans and current/former National Guard or
Reserve members who have been activated to
Federal active service)
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Current statement of service that is signed by
the appropriate personnel and shows
  • Individuals full name
  • Social Security Number
  • Date of birth
  • Entry date of active duty
  • Duration of any lost time
  • Name of the command providing information
    (Active Duty Service Members)

22
Current statement of service that is signed by
the appropriate personnel and shows
  • Individuals full name
  • Social Security Number
  • Date of birth
  • Entry date of active duty
  • Total number of creditable years of service

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  • Total number of creditable years of service.
  • Duration of any lost time
  • Name of the command providing information

(Current National Guard or Reserve member who has
never been on Federal active service).
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To apply for a COE online, youll simply need to
go to the VA eBenefits portal.
If you already have login credentials, youll
simply click the login box.
25
If you need credentials, select the register box
and follow the prompts on the screen.
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For assistance, you can contact the eBenefits
Help Desk at 1-800-983-0937 Monday through
Friday from 8am to 8pm EST.
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How Do You Apply for a VA Loan Online?
28
Once you have determined your eligibility and
applied for your COE, you can apply for your loan
online very simply. Access your preferred lenders
site and complete the online pre-approval process.
29
To do so, youll need some important information,
including
  • Social Security Number
  • Property information
  • Income details

30
After supplying the requested information, you
simply submit the application, and the lender
will contact you with any further questions.
31
Purchasing a home is a major undertaking
however, the VA loan program simplifies the
process for military personnel and makes home
ownership possible for many who otherwise would
not have the opportunity to purchase their own
homes.
32
Mortgage Originator Jimmy Vercellino,
specializing in VA loans, helps veterans use
their VA loan benefit to their greatest advantage.
33
Be a proud homeowner today. For more details
call 480-351-5904 or visit the site
www.valoansforvets.com
34
VA Loans for Vets 7702 E. Doubletree Ranch Road,
Suite 220 Scottsdale, AZ 85258 Phone (480)
351-5904 Email jimmyv_at_fcbmtg.com
35
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