Bozeman VA Home Loans
The Shannon Foley & Graver Johnson Team
The Shannon Foley & Graver Johnson Team [email protected]
1177 West Loop South, Suite 700Houston, Texas 77027
Phone: 406-551-4016 Schedule Appointment with Graver
Schedule Appointment with Shannon
The VA Home Loan Program For Veterans
The VA Home Loan Program was started in 1944 as a part of the GI Bill of Rights following World War II. It was created to reward those currently serving in the military and veterans that have served. As part of the GI Bill, the government created a special government-insured mortgage program to minimize down payments, lower closing costs, and help those currently serving and veterans achieve the dream of home ownership.
- One of the primary benefits of a VA mortgage is that in most cases a down payment isn't required. It is one of the only home loan programs in the country without a required down payment or private mortgage insurance. VA allows veterans to pay up to 1% of their loan amount toward VA non-allowable fees.
- VA interest rates and Annual Percentage Rates (APR's) tend to be lower when compared to other home loan mortgage programs. Individual interest rates for VA loans are still dependent on your personal situation. Some factors that can affect VA interest rates include your credit scores, how much your down payment is, the value of the home, etc.
The VA Home loan is an insured program to minimize down payments and reduce closing costs for eligible veterans and their families. It is a truly great financing option that helps those who serve our country achieve the dream of homeownership.
Cornerstone Home Lending in Bozeman provides innovative service and personalized guidance. Give us a call at 406-551-4016 or email us at [email protected], or click Prequalify to get started on your home loan request. We will then meet with you to review your home financing goals and help you choose the right loan type to fit your needs. We work hard to deliver a satisfying and streamlined lending experience.
VA Frequently Asked Questions
Eligible veterans and their spouses include the following:
- Active Duty Personnel of the Air Force, Army, Navy, and Marines
- Veterans of the Air Force, Army, Navy, and Marines
- Certain Reservists and National Guard Members
- Surviving spouses of veterans who died on active duty or died as a result of service connected disabilities
- Certain spouses of active duty personnel who are:
- Missing in action
- Captured in line of duty by hostile forces
- Forcibly detained by a foreign government or power
- What can I expect? The VA offers very user friendly home lending guidelines and allows VA mortgage lenders to utilize a manual underwrite when needed. One can expect to have to provide 2 years tax returns with W2's, 30 days most recent pay stubs and current bank statements.
- Where do I check my VA benefits? A VA approved home loan lender can usually access the benefits or one can contact the VA Eligibility Center at 1-877-827-3702 to request their Certificate of Eligibility.
- Can I use my VA Benefits more than once? YES!!!! This is one of the biggest misconceptions that still exist. Your VA Certificate of Eligibility dictates the available benefit.
- There is no monthly mortgage insurance nor private mortgage insurance on VA Loans. You may need to put more down to qualify and be approved for your specific monthly payment.
- Only VA approved condo projects may qualify for VA financing. Contact our team to learn more.
The next steps in getting a VA Home Loan
- Contact our team right away! We’re an experienced and qualified VA Mortgage Lender and can assist with every step of the process.
- Check your VA Benefits Eligibility yourself or we can assist you with that too.
- Gather your necessary documentation like 2 years tax returns with W2's, 30 days most recent pay stubs and current bank statements.