Colorado Springs, Denver, Colorado (PRWEB) February 12, 2012
How awesome would it be to close on a home in Colorado that is $1,094,625.00? How much more awesome would it be to close on a home in Colorado with the same amount that is already guaranteed and insured by the VA, with the secured promise to you (a veteran) who would be using their VA Home Loan benefits to pre-qualify for the loan amount? Pretty cool deal, right? Well, getting approved for Colorado Jumbo VA Loans is a reality for many military members who have taken the first step and used their VA loan entitlement to pre-qualify their way through the VA Home Loan process with ease, but taking the first step is one of the reasons many people miss their opportunity.
However, the rewards of Colorado Jumbo VA Loans were finally brought to the surface for all veterans to take advantage of by the recently launched VA Home Loan website for Colorado, which is sponsored by the help of the VA Loan Experts at Security America Mortgage, Inc. The VA loan experts over VA Mortgage Industry concluded that getting pre-qualified for a VA Home Loan (and Jumbo VA Loan) is so easy that the hardest parts are; (a) Knowing what VA Loan Limits are available, and, (b) Taking the first steps of applying for a VA Home Loan with the required VA forms, like the certificate of eligibility and the DD214 form. Taking that first step is the main reason so many veterans hault in the beginning of the VA Application process, because they are simply afraid to take those initial steps toward receiving the VA benefits they so rightly deserve.
The new Colorado Relocation/VA Loan website features detailed location specific information about Colorado including processing VA Home Loans, VA Loan Limits, Colorado Demographics and much more! A few tips over how much the VA Home Loan can be and how the calculations are determined were also featured on the recent YouTube video posted by the company.
The second reason a VA Jumbo Loan is just as good as the Colorado VA Home Loans is because the maximum VA Loan Limit is a lot more than the regular limitations of the Home Loans. In Colorado, the VA Loan Limit can be anywhere from $462,500 in Ouray County all the way up to $1,094,625 in San Miguel County and Pitkin County.
There are only seven (7) steps in processing Colorado Jumbo VA Loans. This is one main reason why veteran home buyers turn to the VA Jumbo Loan Process and why it is so popular compared to receiving an FHA Jumbo Loan. Since Jumbo VA Loans are so similar to the approval process of a VA Home Loan, below simply lists the summaried version of "The Seven (7) Easy Steps of the VA Home Loan Process" for review:
-Step 1. Home Buyer Locates the Real Estate Property of their Dreams.
-Step 2. Home Buyer Applies with a Lender's Application Form, Beginning the VA Home Loan Process.
-Step 3. Home Buyer Requests the Required VA Forms to the VA Loan Experts for Review:
-DD214 VA Request Form (Discharge/Separation Papers Showing the Last Period of Service).
-Certificate of Eligibility Request Form- COE (Document Showing Entitlement Info according to the VA).
-Step 4. Property is Inspected and Appraised by an Approved VA Inspector/Appraiser.
-Step 5. Calculations of VA Home Loan & Estimates of the Property's Reasonable Appraised Value is Determined by the Lender - VA Home Loan Froms and Application are sent to the VA for review.
-Step 6. VA Reviews the Application Forms Submitted by the Home Buyer and VA Loan Expert.
-Step 7. The Home Value Amount vs. Calculations of Home Buyer's Eligibility is Assessed and Determined by the VA. If Application is approved, the Home Buyer gets the VA Home Loan!
Also to keep in mind - since the interest rates can change on a daily basis (and sometimes even a couple times during the one day), it’s important to shop wise 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.
Get Pre-qualified to Buy a Home with a VA Jumbo Loan in Colorado and Contact a VA Home Loan Experts at Security America Mortgage, Inc.