Answers To VA Mortgage Loan Questions
We realize that not everyone understands the VA mortgage loan like we do. It does happen to be our day job. However we’re always happy to help anyone walk through the process and understand it better. Below are common VA Loan Questions we’ve received regarding the VA mortgage loan as we’ve processed hundreds of applications over the years. If your VA Loan Questions are not addressed below, please contact us!
I don’t have my certificate of eligibility; can you help me get one?
Yes, we can help you! If you already have your DD-214 or Statement of Service, we can retrieve your certificate of eligibility electronically. If you don’t have these forms, we can still walk you through what you need and how to get it. Just call us.
I’ve already used my VA mortgage loan eligibility to purchase a home. Can I use it to purchase another home?
Yes – there is no limit to how many times you can use your VA mortgage loan as long as you’re purchasing property as your primary residence.
Why is the loan amount higher than the sales price for VA mortgage loan?
All VA mortgage loan have a “funding fee” which is financed on top of the loan amount. This fee negates the need for mortgage insurance.
I am VA disabled (service related), is there is an additional discount available to me?
If you are at least 30% VA disabled, your loan will not have the traditional VA funding fee financed on top of the loan amount.
Can I purchase a home with someone other than my spouse as the co-borrower on a VA mortgage loan?
Yes but the other applicant must be a veteran as well. Co-signers on the loan do not have to be veterans, however they do have to use the home as their primary residence.
I don’t live near Lees Summit, Missouri can you still handle my VA mortgage loan?
Yes! We’re VA mortgage loan experts and can help you in all of our licensed states. We can handle your loan anywhere in the state of Arizona, Missouri, Kansas, Nebraska and Virginia.
Can I close my VA mortgage loan in my hometown if I don’t live near Kansas City?
Absolutely. We will FedEx or email all of the documents to your local title company.
I already applied to another lender for my VA mortgage loan; do I have to stay with them?
No you don’t. You can change your mind and decide who you want to close your loan. Transfer of your loan is an easy process.
Can I use my VA mortgage loan eligibility for rental property?
No – the home you purchase with your VA mortgage loan must be your primary residence.
Can I refinance my primary residence using my veteran benefits?
How will I know what the prospective home or my primary residence is worth?
We will order an appraisal done by a licensed VA appraiser in your area.
I am a widow of a veteran; can I qualify for the VA mortgage loan?
Yes you can, provided your deceased spouse died in the line of duty or from a service-related cause. Learn more about eligibility here.
Do I have to fill out forms online?
No, we can do everything via phone or in person. To get started, please call me at (816) 268-4025!
How long does is take to close my VA mortgage loan?
It varies, but typically 15 to 30 days after all paperwork is submitted.
I want to place my VA mortgage loan in your hands, what’s next? What do I tell my Realtor?
Call me at (816) 268-4025 for answers to VA mortgage loan questions, we may not have covered Ask your agent to fax a copy of your contract to us at (816) 795-7005, and I will give the Realtor a call to coordinate.