Veterans, active duty service members and eligible surviving spouses shopping for a home in Tustin or elsewhere in California can apply for VA mortgages to move into their homes with zero down payment.
What is a VA Mortgage?
A VA mortgage is a lending product the US Department of Veterans Affairs guarantees.
Lenders assume less risk when they provide mortgages to borrowers with backing from a government agency.
That means they are not concerned with a perfect credit score when you apply and are still able to offer great benefits.
Benefits of Tustin VA Loans
- Buy the home you want right away. You do not have to wait to save up for a down payment.
- Pay affordable rates.
- Qualify without perfect credit.
- Capped closing costs make home purchasing affordable.
- There is no requirement to pay for mortgage insurance.
- For eligible disabled veterans, the funding fee can be waived.
- When refinancing with a VA home loan, no appraisal is necessary unless discount points are charged.
Do You Qualify for a VA Mortgage in California?
To be eligible for a VA home loan, you need to be one of the following:
- A veteran
- An active-duty service member
- An eligible surviving spouse
Members of all military branches are welcome to apply, including activated members of the National Guard or Reserve.
When you apply, you will need to provide your Certificate of Eligibility (COE). You do not have to jump through any hoops to get this form; we will do it for you.
While you do not need a perfect credit score, we will look at your credit score when you apply, together with your employment history, income, and DTI ratio.
One more criteria to be aware of when you are applying for a VA mortgage is the minimum service requirement.
90 days of active duty wartime service or 181 days of continuous active duty peacetime service are usually sufficient to meet this requirement, but for some duty eras, the requirement differs.
You do not need to figure out on your own whether you meet the requirement for service. We can make that determination.
Apply Now for a VA Mortgage in Tustin or Beyond
Ready to move into a home with zero down, no PMI, and affordable interest rates? Please give us a call today at (949) 751-6940 to schedule your consultation. We help veterans buy homes and refinance with affordable VA home loans in Tustin, Anaheim, Irvine, Los Angeles, and throughout California and all 50 states.