Liberty Lending Consultants is committed to helping veterans in St. Louis become homeowners with competitive VA (Veteran Affairs) home loans. The VA home loan program was designed to provide eligible veterans, active military, reservists, and select military spouses with long-term financing for the purchase of a primary residence.
Since 1944, when the U.S. government created this loan guaranty program for any service member who has courageously served our country, millions have been afforded favorable VA mortgage financing. Men and women, who sacrifice so much, come back to our great country and now have the opportunity to be comfortable in a home of their own. Missouri VA loans are issued by the federal government or by an approved VA lender such as Liberty Lending Consultants. And, finally, the great news is that Veteran Affairs loans are easier to qualify for than your conventional home loan!
Veterans Affairs home loans are designed to assist veterans with the purchase of a home by providing competitive interest rates and 100% financing. Plus, no down payment of any kind is required. If you’re a veteran who fought for the safety of our country, we want to help you get a mortgage loan today! Contact our team to see if you qualify for VA benefits.
Depending on the type of VA loan you’re applying for, the length of your service/commitment will determine your eligibility for benefits. Some additional eligibility requirements include having a good credit score, sufficient income, and a valid Certificate of Eligibility.
This may be the best financial avenue for borrowers, especially if they plan on staying in the house for the next several years or so. However, if you do see yourself moving within the next few years, an ARM with a low initial interest rate might be the best way to lower your monthly payment.
There is no longer a VA loan limit over $144,000 for eligible veterans with full entitlement.
Once you’ve determined your eligibility for a VA loan, you must then decide whether or not a VA loan is right for you and or your family. There are multiple differences between a VA loan and a conventional loan. These differences range from loan amount to fees associated with the loan. Liberty Lending Consultants breaks down the differences between a VA loan and a conventional loan. Liberty Lending Consultants can work with you to receive the best St. Louis VA loan or conventional home loan.
Borrowers must be active duty military service members, veterans, reservists, and spouses of those in the military or military veterans. When applying for a VA loan, applicants are required to present copies of their two most recent W2 statements, their two most recent pay stubs, documentation of other assets, and (if needed) proof of discharge.
VA Loan Details
Conventional loans are available to anyone looking for a home loan, however, availability and eligibility of loans are determined by assets and creditworthiness. Conventional housing loans offer more flexibility, but, come with additional risk. Like with any loan, documents pertaining to income, assets, and creditworthiness are needed to determine conventional loan eligibility.
Conventional Housing Loan Details
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