I was extremely impressed with the efficiency in getting through the process and of course how personable he was…
-David & Paula B

We'll be recommending him to anyone we know who may be in the market for a new home…
-Amy & Greg C

Very easy to deal with and explained everything in simple terms. He was very professional and expedited our loan process even during the holiday season…
-Peter G

It was my first mortgage loan & he made the process easy…
-Jacob S

Very smooth process, no hassles
-Don A

Very reliable…
-Zach H

Efficient and very friendly…
-Laura K

It was very comforting to know I could talk to him. He was very patient…
-Christy K

He was constantly updating me on the status of my loan application…
-Derek P

Communication was excellent; he kept me in the loop the whole time…
-Monica F

He was very personable met with us face to face…
-David B

He is very easy to work with, very efficient, personable and explained things well…
-Janice and Roger B

He was helpful to a first time homebuyer in the early stages and explained everything…
-Tim M

Easy, fast and painless process…
-Brad M

He took care of everything for me…
-Sandy W

The VA loan began in 1944 through the original Servicemen's Readjustment Act, also known as the GI Bill of Rights. The GI Bill was signed into law by President Franklin D. Roosevelt and provided veterans with a federally guaranteed home with no down payment. This feature was designed to provide housing and assistance for veterans and their families, and the dream of home ownership became a reality for millions of veterans.

VA guaranteed loans are made by private lenders, such as banks, savings & loans, or mortgage companies to eligible veterans for the purchase of a home, which must be for their own personal occupancy. The guaranty means the lender is protected against loss if you or a later owner fails to repay the loan. The guaranty replaces the protection the lender normally receives by requiring a down payment allowing you to obtain favorable financing terms.

The maximum guarantee authorized by the VA is 25 percent of the loan amount up to $104,250. The maximum VA home loan is $417,000. The maximum guarantee in the states of HI and AK is 25 percent of the loan amount up to $156,375. The maximum VA home loan in these states is $625,500.

Some first-time homebuyers are misinformed as to the workings of a VA Loan. The Veterans Administration does not normally act as a lending agent. Instead, the VA is in the business of guaranteeing the loans of veteran. In most cases, the VA offers a guaranty to those who meet the requirements, the first of which include a good credit rating. It's important to know that a VA home loan guaranty is available only if the veteran has the income to handle house payments. A VA loan guaranty is not an automatic benefit.

If you are looking to purchase a home with no money down, you're in luck if you qualify. VA mortgage loans can be guaranteed with no money down in most cases up to $417 thousand dollars. Also, no private mortgage insurance is required with a VA guaranteed loan.

The VA loan can also be used for Veterans looking to refinance an existing mortgage. If you are thinking about refinancing your existing VA loan, ask for information about the interest rate reduction loan, part of something called the Streamline Refinancing Program, which allows veterans to refinance at little or no expense to them.

To qualify for a VA home loan, you must fall into a certain debt ratio. Your income, credit card debts and the new indebtedness created by the VA mortgage are all tallied up to see where you land in terms of debt. The maximum debt ratio you may have and still qualify for a VA home loan is 41%. This is only one factor used to determine eligibility; the others include your reliable income and credit rating.

You can have previously-used entitlement "restored" one time only in order to purchase another home with a VA loan if the borrower has paid off the prior loan but still owns the property, and wants to use his entitlement to purchase a second home. This often occurs with active duty borrowers who PCS to a new station but want to keep their existing home for retirement. However if the prior loan has been paid off, AND the property is no longer owned, they can have their entitlement restored as many times as they want. They can re-use their VA eligibility for every home purchase from the first to the last.

Also, veterans who have used a VA loan before may still have remaining entitlement for use for another VA loan. A veteran's maximum entitlement is $89,912, and lenders will generally loan up to four times your available entitlement without a down payment, provided your income and credit qualifications are fine, and the property appraises for the asking price.

Remaining entitlement and restoration of entitlement is not automatic. It can be requested through the nearest VA office by completing VA Form 26-1880. The entitlement may also be restored one time only if the veteran has repaid the prior VA loan in full but has not disposed of the property purchased with the prior VA loan.

All Veterans applying for a VA loan must obtain a Certificate of Eligibility. If you do not have this Certificate, you will need to apply using VA Form 26-1880 and this will require a copy of DD-214 (Certificate of Release or Discharge from Active Duty).

Reservists and National Guard are eligible for VA Loans, too.

Eligibility extends to members who have completed a total of 6 years in the Selected Reserves or National Guard (member of an active unit, attended required weekend drills and 2-week active duty for training) and received an honorable discharge; continue to serve in the Selected Reserves. Individuals who completed less than 6 years may be eligible if discharged for a service-connected disability. In addition, reservists and National Guard members who were activated on or after August 2, 1990, served at least 90 days and were discharged honorably are eligible. Eligibility for Selected Reservists is due to expire on September 30, 2009.

No, except for a farm on which there is a farm residence that will be personally occupied by the veteran as a home.