Getting a VA Loan
Home ownership is an enormous commitment, meaning that it needs an enormous investment of resources. Since most people cannot afford the costs of home ownership, this creates the need for lenders to provide them with the borrowed funds needed to cover the shortfall.
VA loans exist to ensure that eligible veterans can secure such funding. Sometimes VA loans can be made even when a loan cannot be found using the normal channels. It is important to remember that would-be borrowers of VA loans are still scrutinized using much the same criteria as other would-be homeowners, meaning that there are circumstances under which their loan applications will be met with nothing but rejection. However, not all VA lenders have the same guidelines.
Can’t Get a VA Loan? We Can Help
Even if you have not been able to secure a VA loan from the lenders that you have contacted so far, that is no reason for you to lose hope. Each lender uses its own set of criteria to judge the creditworthiness of its clients, meaning that some lenders will approve VA loan applications that others will not. In fact, HomePromise is well known for approving VA loans that our competitors either cannot or will not, meaning that you should not give up on your search for a VA loan until you have taken the time to speak with one of our VA loan experts.
Examples of How We Can Help
Here are examples of the kinds of VA loans that we are willing to approve when our competitors either cannot or will not:
- If you are an eligible veteran and want to purchase or refinance a home with someone other than your spouse, then you should contact us as your first choice of lender. This is because other lenders limit VA loans to eligible veterans and their spouses, whereas we are much more permissive in this regard.
- Likewise, if you are interested in either a modular home or a manufactured home built on land you own, you can get a VA loan from us as long as you meet our criteria even if no one else will even consider your case.
- Sometimes, it can be hard for lenders to gauge the value of homes because the home has unusual characteristics. Appraisers call this a lack of comparable home sales where there are few if any similar real estate properties to your home. Examples range from geodesic domes to berm homes and log homes. We are willing to consider such VA loans even when others will not.
- Finally, if you are someone who has had financial difficulties in the not so distant past, come to us because we regularly approve VA loans other lenders will deny. This means we have approved veterans with recent foreclosures and short sales, recent bankruptcies, low credit scores, and high debt-to-income ratios. Likewise, we will even consider people with limited income but strong assets to compensate for low income.
Of course, the examples provided here are only a few of the VA loans that we are willing to approve when our competitors either cannot or will not. If you are interested in getting a VA loan but have met with failure from other lenders, please get in touch with us at your earliest convenience. The sooner that you contact us, the faster that you will be able to secure the funds needed to purchase or refinance your home.