Are you an active-duty service member or veteran looking to purchase a home? VA home loans are designed to help military personnel, veterans and certain other groups become homeowners at an affordable cost. VA loans are one of the most desirable loan programs available because they do not require a down payment or private mortgage insurance.

To receive a VA loan, you must meet ¬at least one of these requirements:

● You have served 90 consecutive days of active service during wartime.
● You have served 181 days of active service during peacetime.
● You have served 6 years in the National Guard or Reserves.
● You are the spouse of a service member who has died in the line of duty or as a result of a service-related disability.

Along with meeting one of the requirements above, you need to have a valid Certificate of Eligibility (COE). A COE form is provided by the Department of Veterans Affairs indicating to the lender that you’re eligible for a loan. Once you’re eligible, the lender will check your credit score to make sure you have the ability to pay your mortgage and any buying-related costs. VA loans are one of the easier mortgage loan types to qualify for because of their low income and credit score requirements.

In conclusion, the flexibility of this loan is what makes it appealing to military-related borrowers. If you are looking for more information or if you’re still unsure if a VA loan is right for you, talk to one of Coastal Custom Mortgage’s lenders today!