We are committed to providing them with the highest level of service and support. At SBS Mortgage, we believe that our Veterans deserve nothing less than the very best, and we are dedicated to delivering on that promise every day.
By providing Veterans with access to affordable mortgage options, we are helping them to achieve their dreams of homeownership and establish a stable foundation for themselves and their families. We believe that every Veteran deserves the opportunity to achieve the American Dream of homeownership, and we are committed to helping them do so.
Providing exceptional mortgage services to those that served us is just the start. We also offer specialized support and guidance to Veterans throughout the home buying process. We understand that Veterans may face unique challenges when it comes to purchasing a home, and we have the knowledge and expertise to help them navigate those challenges with ease.
We are honored to serve those who have served our country, and we are committed to providing them with the highest level of service and support. At SBS Mortgage, we believe that our Veterans deserve nothing less than the very best, and we are dedicated to delivering on that promise every day.
If this section is unable to answer your questions, please feel free to contact us. We look forward to speaking with you.
You may qualify for a VA loan by meeting one or more of the following requirements:
- You served 90 consecutive days of active service during wartime.
- You served 181 days of active service during peacetime.
- You have 6 years of service in the National Guard or Reserves, or served 90 days (at least 30 of them consecutively) under Title 32 orders.
- You are the spouse of a service member who died while serving or due to a service-related disability.
- You were discharged for a medical condition or service-connected disability.
Don't meet the minimum service requirements? You may Qualify for an FHA or USDA Loan
Surviving spouses will also need a COE to verify eligibility and utilize their VA loan benefits. Getting a COE as a surviving spouse depends on whether or not you’re receiving Dependency and Indemnity Compensation.
The VA does not set a minimum credit score requirement for VA loan eligibility, most lenders typically do. Because of this, VA loan credit score requirements vary by lender, with several of our lenders typically requiring a mortgage credit score of 550 to obtain financing.
In addition to credit score, the VA requires qualified Veterans to maintain a certain amount of residual income left over each month after paying all major expenses. The excess, should be enough to cover typical family needs, such as food, transportation and medical care.
Lenders need what's known as a Certificate of Eligibility (COE) to verify if a Veteran meets the minimum service requirements. Your COE provides the lender with confirmation that you qualify for VA loan benefits.
For most Veterans, this is an easy step. Your lender can typically pull your COE with only your social security number and date of birth.
In some cases, the process may be more complex. However, the important piece is you don't need this document before applying for a VA loan.
VA determines the guidelines for VA loan eligibility, These typically include sufficient stable income to repay the loan, acceptable levels of debt, and a credit score that meets the lender's credit requirements.
The Veterans Administration will charge a funding fee on every VA loan.
There is first time use for a Veterans
Then any Subsequent use, there is also a Funding Fee. (you can use a VA loan for your whole life, it allows you to continue to buy homes with No Down Payment, No PMI and Industry best rates.)
This Fee is rolled into your overall Loan amount, and, closing costs for Veterans allows sellers to pay most or all of those expenses. (Up to 4%) Many of our borrowers purchase a home with no money due at closing, keeping in mind every situation is different.
Our clients speak to the type of service we provide.
"I cannot say enough great things about SBS Mortgage. They made the home buying process seamless and stress-free for me, which was a huge relief. Their expertise and guidance were invaluable, and I felt like they truly cared about helping me achieve my homeownership goals. Thank you, SBS Mortgage, for all of your hard work!"
"I recently worked with SBS Mortgage for my VA loan, and I couldn't be happier with the experience. The team was incredibly knowledgeable and responsive throughout the entire process. Thanks to their help, I was able to purchase my dream home and take advantage of all the benefits that come with a VA loan. Highly recommend!"
"As a Veteran, I was nervous about the home buying process, but SBS Mortgage made everything so easy. They walked me through each step and answered all of my questions along the way. I appreciated their attention to detail and their dedication to serving those who have served our country. Thank you, SBS Mortgage!"
Please take the time to speak with us. We know that we will be able to help you out and we look forward to speaking with you!