- June 13, 2018
- Posted by: Michael Meyer
- Category: Connecticut
Connecticut Veteran Mortgage Program
Are You A Connecticut Veteran? Do you know what the benefits are and steps that need to be taken in order to get a Veteran Mortgage (also known as a VA Loan)?
If you have chosen to bravely protect our country, there is a tremendous opportunity for you to take advantage of one of the best mortgage loan programs available. Here at Northeast Financial we have great experience with VA mortgages and I am available to assist you through your entire loan process. As well, we cover the entire state.
Benefits of the VA Mortgage
- Lower payments than many other programs.
- 0% down is available which allows for up to 100% financing.
- Furthermore, no PMI is required.
- Finally, this is an easy mortgage to qualify for as long as you have all your paperwork ready.
You are eligible for a VA loan if you meet any of these following criteria:
- You have served 181 days during peace time or active duty.
- Or you served 90 days during war time.
- You served 6 years in the National Guard or Reserves.
- Finally, you are a spouse of a service veteran who was killed in the line of duty.
Financial and Income Qualifications
- You must have employment for at least 2 full years.
- Have at least a 620 FICO score.
- The loan cannot exceed the loan limit for your county. Click here to learn more: https://www.fhfa.gov/DataTools/Downloads/Documents/Conforming-Loan-Limits/FullCountyLoanLimitList2018_HERA-BASED_FINAL_FLAT.PDF
- Have your Certificate of Eligibility (COE).
All Veterans using the VA loan benefit must pay a funding fee. The funding fee is a percentage of the loan amount you are taking out. Here is an overview of how it works: https://www.benefits.va.gov/homeloans/documents/docs/funding_fee_table.pdf
For additional information on the VA mortgage and to obtain your Certificate of Eligibility, please visit this link: https://www.benefits.va.gov/homeloans/purchaseco_certificate.asp
Thank you for your service to our country. Contact me anytime for a free consultation about VA loans or to get pre-approved. I am here to help you every step of the way.
NMLS: 1328596 Company NMLS: 117273
210 South Main St. Middletown, Connecticut