For those who have sacrificed so much by being on active duty or have retired from serving in the United States military, there are many opportunities to buy or refinance a home. Mortgage bankers and other home financing companies make special concessions for members of the armed forces and their families. The home mortgage company, Naranche, can help you find a home loan that honors this tradition of service to our country.

What is a VA loan?

When a service-person is seeking home mortgage financing. The Veteran’s Administration has a home loan program in the form of a generous guarantee that is often referred to as the VA loan or an entitlement loan. This means if a military defaults on a home loan, the US government guarantees that a portion of the loan will be covered.

Currently, VA loans allow American GI’s the ability to loan around $100,000 to $140,000 with up to one-third of that guaranteed by the US government. Combined with other forms of home loans, this can generally pay for a good deal of the home. Mortgage brokers are happy to discuss the VA loan program and find creative ways to use this in securing finances needed to buy a home at some of the lowest mortgage rates in Denver.

Who qualifies for VA loans?

To qualify for a VA loan, in addition to being either active duty or honorably discharged, you must meet one of the below requirements:

• Be a US wartime / military conflict veteran (World War II through the present)
• Be retired from a peacetime service of at least 181 days.
• Have completed at least six years of reserves in an approved branch of the military.
• Possess a certificate of eligibility from the Veterans’ Administration

If you are unsure whether or not you qualify, you can always check with the Veterans’ Administration who can review your military service records to determine if you are eligible for a VA loan program. You will be issued a certificate of eligibility if you are, which is a vital piece of paperwork needed before you can start the VA loan application process.

Find more help with getting a VA loan here

Getting a VA loan doesn’t have to be complicated as you may think, despite all the red-tape normally associated with government benefits and the military administration. Your best route to a VA loan is to talk with an experienced Denver mortgage broker like the team at Naranche. They have the know-how to help military folks find the means to finance their homes and get approved for VA loans and conventional Denver loans much faster than trying to do it alone. You may also be pleasantly surprised to find the Naranche has loan programs that can save you a lot more money than other organizations. You can trust that Naranche can give you the responsive help you deserve.