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Eligible for a VA home loan, in the Fort Meade area. -Skip Young

Eligible for a VA home loan, in the Fort Meade area.  

 

  • To obtain a VA home loan, you must first fill out the VA form 26 - 1880, the request for your Certificate of Eligibility CLE. 

  •  Shih the certificate is issued only through the Veterans Administration and is a first step towards applying for your home loan.  

  •  veterans, active-duty, guard or reserve, and military spouses potentially qualify for the certificate.

 

 Persons eligible for a VA home loan - active duty

 90-day rule or six-month rule - a veteran is eligible for VA home loan benefits if he or she served on active duty in the Army, Navy, Air Force, Marine Corps, or Coast Guard after September 15th, 1940, and was discharged under conditions other than dishonorable after either: 

 

  •   I need eggs are more any part of which occurred during wartime, or

  •  181 continuous days or more (peacetime)

 

 2-year rule if not on active duty - a greater length of service is required for veterans who: 

  • Enlisted and service began after  September 7th, 1980, or  

  •  entered service as an officer after October 16th, 1981.

 

These veterans must have completed either:

  • 24 continuous months of active duty, or enter the full. For which called or 

  • Ordered to active duty, but not less than 90 days any part during wartime or 180-181 continuous days during peacetime.

 

*ThIs do active registration

tip: cases involving other than honorable discharges will usually require further development by the VA. This is necessary to determine its service was under other than dishonorable conditions.

“VA Guaranteed” loan

VA Guaranteed Home loan, let's take a closer look

  1. The Veterans Administration is not a bank.

  2. The VA does not loan the money or funding of the loan, or service a loan.

  3. VA stands behind the loan by guaranteeing a portion of it.

  4. If something goes wrong and the borrower can't make their payments anymore, The Lending institution can go to the VA to cover any losses they might incur. 

  5. The Guarantee replaces the protection the lender normally receives by requiring a down payment or mortgage insurance and allows veterans the ability to obtain favorable financing terms. 

  6. Most VA home loans are handled entirely by private lenders and the VA really gets involved in the loan process.

Note: as long as a lender follow the proper underwriting protocol, should the VA loan ever go into default, the lender is entitled to 25% of the loan amount.

 

“VA Home loan” features 

The features of the VA home loan include the following:

  1. A purchase loan must be for veterans on personal occupancy.

  2. The Max guarantee is up to 25% of the one unit Fannie Mae and Freddie Mac maximum conforming loan amount.

  3. There is no down payment required up to 100% financing plus the VA funding fee.

  4. There is the ability to finance the VA funding fee

  5. Only fixed or arm option loans - fully amortizable - no interest-only options

  6. The VA home loan has flexible credit standards.

  7. The VA loan has no mortgage insurance premiums.

  8. The VA loan is an assumable mortgage.

  9. VA loan has no prepayment penalties

 

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If you are stationed here and are looking to purchase or sell a home please contact Skip Young Realtor®:

"Marine Barracks DC" "National Guard Armory" "American Military Society" "Navy Lodge" "American Military Society" "US Naval Reserve Readiness Military Naval Air Attach" "Washington DC Police Department" "Air Supply US Coast Guard Headquarters" "Joint Anacostia Bolling AFB" "Department of Navy" "Fort George G. Meade" "Naval Support Facility Indian Head" "Joint Base Andrews" "Coast Guard Yard" "US Air Force Civil Air Patrol" "NAVAIR Maryland Military" "US Army Reserve Center" "Department Naval Surface Warfare Center" "Army National Guard Recruiter" "Naval Air Station Patuxent River" "Welcome to the Fort Belvoir" "Air Force United States Department Joint Base Andrews, MD"

Skip Young Realtor® with Reviews as a Realtor®, has an extensive background in working with an Elite Unit while serving his country from 91 - 94. Now an Award-winning Realtor®, located in Waldorf MD, has proven not just in the ranks of the field with an Elite unit in the Army, but also in the Maryland Real Estate Business. By working with every type of client, including active duty and veterans alike. His dedication to helping those who are serving and need to use their VA loan, need information on leasing a property due to a short-term duty station at any one of the bases here in Washington DC, Maryland, or Virginia. Military bases such as:

  • Hire Skip Young Relator® for your next Home Purchase or Sale

Waldorf Maryland Realtor® - Skip Young Realtor®

If you are stationed here and are looking to purchase or sell a home please contact Skip You are serving and need to use their VA loan, need information on leasing a property due to a short-term duty station at any one of the bases here in Washington DC, Maryland or Virginia. Military bases such as:

Skip Young Realtor® with Reviews as a Realtor®, has an extensive background in working with an Elite Unit while serving his country from 91 - 94. Now an Award-winning Realtor®, located in Waldorf MD, has proven not just in the ranks of the field with an Elite unit in the Army, but also in the Maryland Real Estate Business. By working with every type of client, including active duty and veterans alike. His dedication to helping those who are serving and need to use their VA loan, need information on leasing a property due to a short-term duty station at any one of the bases here in Washington DC, Maryland, or Virginia. Military bases such as:

There are currently 23 million veterans and service members right in your local community of Washington DC, Maryland, and Virginia. They transact over $153 billion annually in the Local Real Estate purchases and Selling of Property, along with the Rental Market. Learn how you can help tap into and serve the veteran community with VAREP, the Greater Annapolis Chapter. Skip Young your Waldorf MD Realtor® and Veteran is continuing to serve my country by helping our community of brothers and sisters by representing the Government Affairs division. The position is about assisting in changing the laws that help protect veterans and service members who need to find housing in the Washington DC Maryland and Virginia area.

Skip Young EXP Realty Waldorf MD Realtor® Realtor®, Veteran, New Home Sales eXp Realty

  • eXp Realty

  • 137 National Plaza, Suite 300

  • National Harbor, MD 20745

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