Your VA Mortgage Lender: 4 Clues They're Qualified

The VA mortgage lender you select to provide you with a mortgage can determine whether or not you secure the loan with the most favorable terms. Before you sign the dotted line on your VA mortgage loan, make a checklist of these four clues that will tell you whether or not your mortgage lender is qualified.

The GI Bill of Rights

Most veterans are eligible for 100% financing loans by the Department of Veteran Affairs (VA) through the GI Bill of Rights. Many qualified veterans and widows or widowers of veterans don’t even realize that this financing is available to them.

The Four Clues They're Qualified

Here are four clues that can show you whether or not your VA lender is qualified.

  1. Your VA mortgage lender specializes in VA mortgage loans (and rarely processes other types).
  2. Your mortgage lender is fluent in the financing terms outlined in the GI Bill of Rights.
  3. Your mortgage lender is able to answer your questions clearly.
  4. Your mortgage lender voluntarily offers information to help you secure an affordable home, such as your eligibility to purchase VA-acquired foreclosed homes.
Finding the Most Qualified Lender

You don’t have to use a VA mortgage lender from your state. The VA mortgage rules and processes are uniform throughout the United States, so if you can find a qualified mortgage lender from another state who’s licensed to provide VA mortgages in your state, feel free to apply for his or her services.

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