VA Loans

The JMGroup at Sentrix Financial Services, Inc.

Va Loans                                                                                                                                                                                                         

Many veterans and service members don’t realize that they currently meet the VA loan requirements for a home loan that is underwritten by the government. In fact, only about 10% of the nation’s 24 million veterans have utilized their VA home loan benefits.


Those who meet the VA loan eligibility requirements just need to obtain a Certificate of Eligibility, or COE.


Here’s a look at who meets the VA loan requirements for government-backed home loans (loans underwritten by the U.S. government):


Traditionally, service members who served on active duty for 90 days during wartime   or 181 days during peacetime, but more recently a minimum of two years of service have been typical VA loan requirements.

Members of the National Guard or Reserves who served at least six years

Surviving spouses – who have not remarried – of a service member killed in the line of duty or as a result of a service-related injury

Veterans discharged due to a service-related injury.


Certificate of Eligibility or COE


One of the VA loan requirements is a Certificate of Eligibility (COE). A Certificate of Eligibility is the only reliable Proof of Eligibility on which we, as the lender, may rely, except in the case of an Interest Rate Reduction Refinancing Loan (IRRRL). Completing a Certificate of Eligibility is often faster through an approved lender than doing so through the Veterans Administration.


Thanks to the Automated Certificate of Eligibility technology, VA Approved lenders can pull a COE in seconds – versus waiting weeks through the VA. Remember, eligibility doesn’t guarantee loan approval. However, the JMGroup is strongly committed to securing a VA loan for every veteran and service member who qualifies.


Benefits of the VA Home Loan Program


VA loan requirements are designed to ensure the benefits of a government-backed loan and are available to all service members and veterans who have earned the privilege through their sacrifices. The VA Home Loan Program has already helped more than 18 million veterans and active duty service members achieve home ownership since 1944. After more than 67 years of service, the VA Home Loan Program remains one of the most progressive lending programs in the market.


Since the Department of Veterans Affairs insures up to 25% of each VA home loan, approved vendors have the confidence to provide eligible military members with low interest rates and flexible loan terms.


Other benefits of a VA home loan include:

No mortgage insurance required

No down payment

Regulated closing costs


In addition, there’s a great deal of flexibility built into the VA home loan application process, which allows:


Reduced income requirements

Reduced credit requirements

Higher debt-to-income ratios


Approved lenders do not need to see perfect credit. As a result, our VA loan eligibility requirements allow us to help many veterans who might not otherwise secure financing. In fact, about 80% of VA loan borrowers could not have qualified for a conventional loan. It’s our nation’s way of saying “Thank You” to the millions of men and women who have served us so faithfully over so many years.


Questions? We can help! Give us a call at 440-600-1731



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