Florida, Texas, Louisiana, Arkansas, North Carolina, Colorado (PRWEB) February 04, 2012
When getting pre-qualified for a VA Jumbo Loan, the hardest part about the approval process is, first, knowing what the VA Loan eligibility requirements are, and then taking the first step of applying for a VA Jumbo Loan.
So, why are so many veterans taking the leap and receiving the VA benefits they so rightly deserve? One of Security America Mortgage, Inc.’s VA Loan Experts recently released the VA Home Loan Limits, including other secrets on YouTube so that military service members can find out just how rewarding and simple the VA Jumbo Loan process can be while purchasing a home in the U.S.
The VA Jumbo Loan Process is very similar to the VA Home Loan Process, which can be simplified in the following six steps below:
1. Find the property suitable for your needs.
2. Go to a lender, and apply for the VA home loan.
3. Present discharge or separation papers relating to latest period of service and/or a Certificate of Eligibility/DD214.
4. Property is appraised by approved appraiser.
5. Estimate of property's reasonable value is determined.
6. If application is approved, you get the VA home loan.
Because the interest rates can change daily, and sometimes even a couple times during the same day, it’s important to shop and close fast when you are ready to purchase a home with a VA Jumbo Loan. The interest rates are also based on 30 year mortgages as well as other industry calculated standards. Factors such as your credit, down payment, employment income status, the loan program you decide to choose, and many other things can also affect your interest rate, causing the cost of the monthly payment to fluctuate. The most important thing you can do for your family is to make the wisest choice by taking advantage of the VA Jumbo Loans available to you.
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