We have over a decade of experience helping St. Louis veterans get approved for VA loans in St. Louis.
Each year, thousands of veterans and military service members are assisted by VA loans, loans that are backed by the Department of Veterans Affairs. While these types of loans do not require a down payment, an applicant will still need to have a decent credit score and sufficient income to qualify.
If you are a potential VA homebuyer, the Sean Zalmanoff Mortgage Team can help! We will sit down with you to discuss specific income and other current qualifying requirements.
Benefits of a VA Loan
The VA Loan program is designed to assist Servicemembers, Veterans, and eligible surviving spouses to become homeowners. VA Home Loans are provided by private lenders, like banks and mortgage companies. The Department of Veterans Affairs guarantees a portion of the loan, enabling the lender to provide you with more beneficial terms.
Some of the other benefits of a VA Loan include:
- No down payment is required
- No monthly mortgage insurance premiums are required
- Limitations of the buyer’s closing costs
- Lower than average interest rates
- No prepayment penalties
- You may be able to have someone take over your mortgage payment
- Foreclosure avoidance advocacy from the VA loan program
The VA mortgage offers 100% financing to veterans and their spouses for the purchase of owner-occupied homes. Something some people don’t realize is that they can use their VA benefits to buy up to a 4-family unit. You could live in one unit and have three other people pay your mortgage, even with no down payment!
Current Requirements of a VA Loan
There are a few basic requirements that must be met to qualify for a VA Loan. Some of these include:
- Have to have served 90 consecutive days of active service during wartime, or
- Served 181 days of active days during peacetime, or
- Served 6 years in the National Guard or Reserves, or
- The spouse of a service member who died in the line of duty or as a result of a service-related disability
Contact the St. Louis VA Loan Professionals
Sean Zalmanoff is the Branch Manager of USA Mortgage in St. Louis. He has over a decade of experience helping St. Louis veterans get approved for VA loans in St. Louis. He can APPROVE your mortgage before finding your new home with his one of a kind “TBD Mortgage Approval Program,” so you can shop with confidence. If you would like to find out what VA mortgage you are eligible for, call SeanZ at (314) 361-9979 or apply online today!
Call the SeanZ Team
The Sean Zalmanoff Mortgage Team specializes in making the home purchase or refinance process a great experience.