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If you are a veteran or active-duty service member, or the widow of a veteran or active-duty service member, you may be interested in the government-backed loans offered through the United States Veterans Administration (VA loans). VA loans offer many attractive terms over other conventional mortgage loans, including no-money-down options. CityWorth Mortgage is your local VA loan expert and while we are available online and over the phone, we’ve also put together a list of our most frequently asked questions below.
Can veterans who have used a VA loan before use their original entitlement to purchase a second (or third, or more) property?
Yes! If you have had a VA loan in the past (or currently have an outstanding VA-backed mortgage loan), you may still have part of your entitlement remaining, which can be used to qualify for another VA loan. Additionally, veterans’ home loan entitlements do not expire, but after you leave active duty and retire from the military, a new eligibility determination will likely be required.
Do all lenders offer VA loans?
Not all lenders offer VA loans, and even if they do, not all lenders are VA loan experts like the professionals at CityWorth Mortgage. We are proud to offer low closing costs and competitive rates for VA-backed loans, as well as zero down payment. We are available online and over the phone to help you work through your military entitlement, income, and other information to quickly determine your approval amount.
Can you use a VA loan to buy a manufactured home?
Yes, manufactured homes can be purchased using a VA-guaranteed home loan.
Call CityWorth Mortgage today to speak to one of our experienced professionals with any questions or concerns you have about your VA loan.