Tuesday, June 19, 2012

How to Qualify for a VA Mortgage After the Air National Guard

By Desdemona Delacroix

The Department of Veterans Affairs offers many assistance programs to qualified veterans who served in the United States military. One of the programs established to help vets is the VA home loan program, which is a VA-backed loan that guarantees that vets can obtain financing up to a certain amount in order to purchase a home. If you served in the Air National Guard and you are now ready to take advantage of this VA benefit, there are a few things you need to get started.

Make sure your service in the Air National Guard qualified you for a VA loan. You need to have served six years and received an honorable discharge in order to be eligible for the home loan program. However, the six-year requirement may be waived if you were released from duty because of a service-related disability.

Apply for your Letter of Eligibility. You can register and apply online at the VA website, or you can mail your completed VA form 26-1880 to:

Department of Veterans Affairs

Eligibility Center

P.O. Box 20729

Winston-Salem, NC 27120

When you receive your Letter of Eligibility, make copies and keep it in a safe place.

Select a real estate company and work with your real estate agent to look for a house you want to buy. When you're ready to make an offer, provide your agent with a copy of your Letter of Eligibility, and she will help you secure financing using your VA loan.


http://www.lenderva.com

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