Because of their dedicated service, veterans qualify for a number of benefits, among them is the ability to take part in the VA home loan program.

The VA loan program is specifically designed for the men and women who have served their country. In order to qualify for a VA home loan there is a requirement of specific service conditions that they must meet. The Sean Z mortgage team has over a decade of experience helping St. Louis veterans get approved for VA loans in St. Louis.

If you are a veteran and are interested in taking advantage of the VA home loan program, you may be wondering if you qualify.

Am I Eligible for a VA Home Loan?

You may be able to obtain a VA loan if you meet one or more of the following:

• Have served 90 consecutive days of active service during wartime
• Have served 181 days of active service during a time of peace
• Have at least 6 years of service in the Reserves or National Guard
• You are the spouse of a member who died while in the line of duty or was disabled as the result of a service related injury

You will need to obtain your certificate of eligibility, however, if you have your DD-214 form, we can order your Certificate of Eligibility for you. This is the only additional paperwork you will need to provide us with in order to process your loan.

Benefits of the VA Loan Program

There are a number of benefits to the VA Home Loan program, but the 3 primary ones are:

1. No Down Payment
2. No Private Mortgage Insurance
3. Competitive Interest Rates

The VA mortgage offers 100% financing to veterans and their spouses for the purchase of owner occupied homes. In addition to there being no down payment, veterans do not have mortgage insurance on the loan. There is a funding fee that ranges from .5 to 3.3%. The funding fee is waived for a veteran that receives a minimum of 10% VA disability compensation.

The St. Louis VA Loan Professionals

If you are eligible for a VA loan, contact the St. Louis VA loan professionals at Sean Z Mortgage today. We can APPROVE your mortgage prior to finding your new home with our 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 Sean Zalmanoff at (314) 361-9979 or apply online today!

One of the ways in which the U.S. Government thanks it servicemen and servicewomen is by offering them a direct path to home ownership.

The time you spend in the U.S. Military forces gives you special access to the Veterans Affair (VA) loan. This mortgage gives you the opportunity to buy a home, taking into consideration the special needs you may have after spending years serving the country.

Who Qualifies for a VA Home Loan?

In order to qualify for the VA home loan you must meet one of the following:

• Be a veteran of one of the U.S. military forces. This includes the National Guard and Reserve so long as you were called to active duty at some point in your career.
• Be an active member of one of the U.S. Military forces.
• Currently be a member of the National Guard or Reserve, and have held that position for at least six months.
• Be a surviving spouse of a member of the U.S. Military. Certain other conditions will have to be met in this case which Sean Z and his team can help you clarify.
• Be a commissioned officer of the Public Health Service or the National Oceanic and Atmospheric Administration or a discharged veteran.
• Have been discharged from Military service honorably. Certain dishonorable discharges may be considered at the discretion of Veterans Affairs.

If you have a question about your eligibility, a home loan expert such as Sean Z can help clear them up. Call him today at (314) 361-9979 or fill out the online contact form.

What Will You Need to Apply for a VA Home Loan?

In order to begin the application process for a VA home loan, you are going to need a valid Certificate of Eligibility (COE). The easiest way to obtain this is through your home mortgage agency. They can use the Automated Certificate of Eligibility (ACE) program to help you get your COE.

You can also try using the Veteran Affairs website and going through eBenefits to obtain your COE. This can be done online or you can download a form, fill it out and mail it to eligibility center. This is a lot of extra work that you can avoid by using a home loan service such as the one offered by Sean Z.

What’s Next?

Once it has been determined that you qualify for a VA home loan, you and Sean Z will go over your finances and submit the paperwork for approval. Once you have gotten your TBD mortgage approval you can start searching for your perfect home in St. Louis.

What are the Benefits of a VA Home Loan?

With a VA home loan, you can buy a home, condo, co-op or even a manufactured home. You can also use this to refinance an existing home loan. The interest rate will be competitive, there is usually no down payment required, and the PMI is waived. This is a great way for a veteran to get his family into a home without worrying about spending years saving up for a down payment.

After you find that perfect St. Louis home, the final paperwork will be submitted by Sean Zalmanoff and after the typical home inspections are finished, the deal will be closed and the house is yours.

Ask about this option if you are a Veteran and are trying to find a way to purchase a home for you and your family. This is a great offer from the U.S. Government that has assisted thousands of your brothers in arms from all over the country.