Hanson Realty understands ...

For service members

If you’ve served for at least 90 continuous days (all at once, without a break in service), you meet the minimum active-duty service requirement.

For Veterans

The minimum active-duty service requirements depend on when you served.

Find out more at va.gov

This is the first step in getting a VA-backed home loan. It confirms for your lender that you qualify for the VA home loan benefit.  You can request this online through va.gov, however most VA loan savvy lenders will be able to look this up for you and get it pulled. Reach out to us for lender recommendations.

You do not need a down payment. Zero. Zilch.  However, do keep in mind that a down payment and closing costs are two separate things.

VA buyers get the added benefit of not having to pay for Private Mortgage Insurance.  This is an incredible cost saving opportunity. 

According to news.va.gov, "At 5 percent down, private mortgage insurance (PMI) costs $150 per month on a $250,000 home, according to PMI provider MGIC. With a VA loan, this buyer could afford a home worth $30,000 more with the same monthly payment, simply by eliminating PMI".

The VA loan is not a one and done situation. You can use it more than once EVEN SIMULTANEOUSLY.  Let's get you educated on that.

From news.va.gov - "Unlike many loan programs, a lower credit score, bankruptcy or foreclosure does not disqualify you from a VA home loan.  Shop around at various lenders, because each will have its own stance on past credit issues. However, VA guidelines do not state a minimum credit score to qualify. This gives lenders leniency to approve loans with lower scores. In addition, VA considers your credit re-established when you have established two years of clean credit following a foreclosure or bankruptcy."