VA Mortgage Loans

On behalf of the Veteran’s Holistic Healthcare Foundation and Pacific National Lending, Welcome to our VA Home Loan Guaranty information page. Here you will find basic information about VA Home Loans and the steps you should take to get pre-approved for your VA home loan.

Primary Benefits of a VA Home Loan:

  • 100% financing
  • No Down payment needed
  • No monthly private mortgage insurance is required
  • There is a limitation on buyers closing costs
  • The loan is assumable, subject to VA approval of the assumer’s credit
  • 30 year fixed loan
  • Seller can pay up to 4% of the veterans closing costs and even pay down your debt to help lower your debt-to-income ratio
  • You don’t need perfect credit

Other Benefits of a VA Loan:

  • 100% gift funds allowed
  • No Asset Reserve requirements
  • 2 years on  BK discharge history in Credit back ground OK
  • 1 year into chapter 13 pay out in credit history OK in most cases
  • 2 years on foreclosure, short-sale, and deed-in –lieu OK

VA Does Not Offer Loans Directly and Does Not Guaranty You Will Qualify.

VA does not actually lend the money to you directly. They offer a guaranty to a lender that if you should default on the loan, they will pay the lender a percentage of the loan balance. The word GUARANTY does not actually guaranty the veteran will qualify for a VA home loan.  Here at Pacific National Lending we process your loan for per-approval and lending. Pacific National Lending is experienced and proficient at guiding you through the VA home loan process.

Who is Eligible for a VA Home Loan?

Veterans with active duty service, that was not dishonorable, during World War II and later periods, are eligible for VA loan benefits. World War II (September 16, 1940 to July 25, 1947), Korean conflict (June 27, 1950 to January 31, 1955), and Vietnam era (August 5, 1964 to May 7, 1975) veterans must have at least 90 days of service.

Veterans with service only during peacetime periods and active duty military personnel must have had more than 181 days of active service. Veterans of enlisted service which began after September 7, 1980, or officers with service beginning after October 16, 1981, must in most cases have served at least 2 years.

VA Documentation Needed:

The three specific pieces of documentation a lender will need to determine your eligibility is a DD214 for discharged veterans, a statement of service for active military personnel, and a certificate of eligibility (COE) to determine you have VA entitlement.

Because each lender has different qualifying guidelines, the next step is to contact your lender to find out if you meet their qualifying criteria such as minimum FICO/credit scores, debt-to-income (DTI) ratios, and find out what your county’s maximum loan amount is. Your lender can help you attain your certificate of eligibility on your behalf.



Frequently Asked Questions:

Q: How can I obtain proof of military service?

Standard Form 180, Request Pertaining to Military Records, is used to apply for proof of military service regardless of whether you served on regular active duty or in the selected reserves. This request form is NOT processed by VA.

Rather, Standard Form 180 is completed and mailed to the appropriate custodian of military service records. Instructions are provided on the reverse of the form to assist in determining the correct forwarding address.

Q: Is the surviving spouse of a deceased veteran eligible for the home loan benefit?

The married or unmarried surviving spouse of a veteran who died on active duty or as the result of a service-connected disability is eligible for the home loan benefit.



Just click the Apply Now button to the right or call us today toll free at Pacific National Lending 1 (877) 536-3076. With over 10 years experience in mortgage lending PNL can get you pre-approved in minutes and put you in the hands of our own Real Estate Sales Agent and hand you access to all the latest homes on the market today for sale.

The time to use your VA loan guarantee and take advantage of this market is now. Call, apply today and look into your options.