The Dream of Owning a Home is Possible with a VA Loan

The dream of owning a home may be easier than you thought. If you are a servicemember or veteran of the U.S. Armed Forces, a federally insured mortgage loan may be right for you. VA loans are offered through private lenders, but insured through the U.S. Department of Veterans Affairs, a division of the federal government. North Star Mortgage Network Inc., helps clients in Jacksonville, Duval county, Clay County, St Johns, and surrounding areas finance homes with great rates and minimal down payments. Contact our office today to learn more about VA loans and start your path to home ownership.

Qualifying for a VA Loan

Some of the basic qualifying criteria for a VA loan include:

  • You must be a veteran, active duty servicemember, spouse or dependent of an active duty servicemember. Typically, active duty personnel qualify within six months of service. Reservists can apply after several years, or if they serve during wartime periods. Spouses of military who died during active duty can also qualify.
  • You must plan to live in your home as your primary residence.
  • If this is your second VA loan, you will have to meet additional requirements.
  • You must meet minimum credit requirements.
  • You must prove sufficient income to meet monthly mortgage payments, property taxes and other home ownership expenses.
  • You must obtain a Certificate of Eligibility (COE)

At North Star Mortgage Network Inc., we are here to help you in every step of the process to obtain a VA loan. We will help you apply for your loan and obtain a COE through the Department of Veterans Affairs.

Benefits of a VA Loan

Because they are insured by the federal government, VA loans carry a number of perks that otherwise not be available to some borrowers. They include:

  • You may obtain a loan with no down payment. Should you choose to make a down payment, you can further help with monthly savings.
  • You do not have to pay for monthly mortgage insurance.
  • You are backed by the VA in the event that you begin to struggle to make your monthly mortgage premium.
  • You can get a 30-year mortgage term with low monthly down payments.
  • You can use a VA loan towards the purchase of an existing home, a manufactured home or for a construction loan in many cases. You may also consider refinancing with a VA loan.
  • You may be eligible for additional tax incentives for energy efficient upgrades.
  • If you have a service-related disability, we may be able to waive the funding fee and reduce closing costs.
  • You may still be eligible to use your VA loan benefit even if you have declared bankruptcy or experienced foreclosure in the past.

We have worked with veterans and servicemembers in all types of financial situations with many different goals. We can help you apply for a VA loan and compare rates available to you with other mortgage options. Our certified mortgage brokers value integrity. We want to help you find the best loan available so you become a customer for life.

Get Started with a VA Loan Today

Contact North Star Mortgage Network Inc. today to learn about the options available to you in Jacksonville, Duval county, Clay County, St Johns, and surrounding areas. Our team offers complimentary consultations at your convenience. You can begin the process of owning a home with help from our certified brokers.