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I had no one in this world - and they were about to kill me for it

Since its inception, more than 20 million people have utilized the VA guaranteed home loan program to help them afford a home loan at favorable rates. If you're wondering how to get a VA loan and whether these loans are difficult to acquire, read more about this helpful program for veterans:

The VA Does Not Provide the Home Loans

The Veterans Administration does not provide the funds for home loans. Rather, the loan money is provided by many types of lenders, who participate in the program and know its requirements. If you are looking for a mortgage for a new home, always ask the lender if they participate in the VA guaranteed home loan program. Many institutions have special departments or specially-trained personnel to help apply for these loans. They can ensure that you understand the steps involved in acquiring the loan.

A Certificate of Eligibility Is Required

VA loans require a Certificate of Eligibility that documents your past or current military service. Lenders with trained personnel that work with the VA home loan program can easily acquire this document. However, in some cases, the applicant must fill out a DD form 26-1880 or other form online or by mail to receive the document.

You Must Have A Reasonably Good Credit Record

Lenders generally require applicants for the VA guaranteed home loan program to have a credit score of 620 or above. This requirement is to ensure that you are able to repay the loan and have a record of repaying your debts.

Certain Income Requirements Apply

You will have to provide documentation regarding your income in order to assure the lending body that you can repay the loan. This information can be in the form of W-2s from your place of employment, two years of past income tax forms if you are self-employed, as well as receipts from your military pension or other sources of income.

You Will Pay A One-Time Funding Fee

A one-time funding fee is required to help pay for the VA home loan program. Currently, the funding fee is 2.15 percent if you have a zero down payment. This fee goes down to 1.25 percent if you put a 10 percent down payment on the home. These fees can vary, depending on the type of military service and how often you use your entitlement benefit.

A Down Payment Is Not Always Required

Your military service allows you a certain entitlement toward the amount of the loan. That is, the government will guarantee payment of the loan calculated using the amount of your basic entitlement, which is currently set at $36,000. However, a bonus entitlements may also apply that may allow you to get a home loan up to $417,000, or more, depending on the area. Generally, you can acquire a loan without a down payment up to this amount.

The Home Must Be Appraised

An appraiser must physically visit the property and determine its market value, based on the structure itself, as well as other homes in the area. The VA provides a list of minimum property requirements that must be included in the appraisal report. These requirements include adequate living quarters; whether it is a residential and not commercial property; electrical and water systems in good working condition and other details. If the property does not appraise at the value of the selling price, the buyer may have to re-negotiate the sale.


Red and his brother Neo (pulled by a rescue) lived with each other their entire lives until one day their Mom and Dad said there was not enough time for them and they took up too much room. They were mostly mostly outdoor dogs but liked to be near their Mom, Dad and two children when they were allowed. As you can imagine, they were each others 'everything' but they are separated now, probably forever. And as everyone gets ready to be thankful for their loved ones, Red gets ready to take his final walk of life, unless one person cares.


We are NOT the City Shelter to where pictures were taken. FOR MORE INFO ON THIS PET please contact:
Animal Care Centers of NYC (ACC) at (212) 788-4000
Ask for information about animal ID number A46190

Shelter contact information:
Phone number (212) 788-4000 (automated only)
Brooklyn Shelter: 2336 Linden Boulevard Brooklyn, NY 11208

STATUS : - read comment for update from crossposter
The U.S. Veterans Affairs Administration has helped provide home loans for veterans since 1944. The program allows both veterans and active duty service members to get affordable mortgages that the VA guarantees to be repaid to lenders. The program has been expanded to include refinancing these loans, and certain qualifications apply.

Use of VA Loan Eligibility

In order to qualify for a refinance loan through the VA, you must have used your eligibility for the initial home. In other words, it must be a VA loan to VA refinance. A new Certificate of Eligibility is not required. Your previous Certificate of Eligibility serves as proof of the use of your entitlement.

Loan Limits

VA refinance loans are subject to certain loan limits as defined by the program. These limits cap the amount of liability for repayment required by the program. Each county determines the amount of loan limit. Generally, lenders will approve up to four times the basic entitlement amount of $36,000 for a home loan, without a down payment.

Funding Fee

A funding fee is required for all those who apply for loans through the VA Guaranteed Loan Program. Payment of the fee is required at closing on the loan. You can either pay the funding fee in cash or roll it into the financing of the property. Funding fees can range from 0.5 percent to 3.3 percent. Funding fees for the second use of your eligibility are generally higher than the first use. Certain veterans with disabilities and surviving spouses are not required to pay a funding fee.

Interest Rate Reduction Refinance Loan

The program allows refinancing up to 100 percent of the home's value. Although credit checks and new appraisals are not required under the program, lenders may impose these requirements under their own rules. Unlike a VA Purchase Loan, you do not have to certify that you will occupy the home. You must only certify that you have previously occupied it. The IRRRL program cannot be used to pay off a second mortgage. Generally, the second mortgage must be approved. Your current mortgage payments must be up to date, with no more than one 30-day late payment within the past year.

Cash-Out Refinance Loan

If you wish to take cash out of your home for medical costs, children's college or home improvement costs, the VA offers a Cash-Out Refinancing Program that allows you to use your equity to finance these major expenses. The above qualifications apply similarly for these loans. You may also refinance as much as 100 percent of the value of the property. Unlike the IRRL loan, a credit report, income verification and property appraisal are required. You must also certify that you will occupy the home being refinanced.

Certain costs associated with refinancing can increase the cost of the loan to a greater amount than the fair market value of the property. These costs can include state and local taxes, discount points and other closing costs. Applicants for refinancing should always take these additional costs into account when determining if refinancing their VA loan is a favorable idea.