Loan Approval
If you are buying your first home, the VA home loan program can sometimes be a little confusing. Common misconceptions cause some qualified borrowers to avoid the VA loan program and thus miss out on the many benefits of the VA mortgage.

The Department of Veterans Affairs does not offer VA loans; rather they guarantee the loan to the lender in the event of default. Therefore a VA loan is not approved directly by the VA, but rather is approved by the lender using the criteria and guidelines set forth by the Department of Veterans Affairs.

The VA mortgage lending guidelines outline four basic requirements for a loan that lenders must follow. First, in order to purchase a home with a VA loan qualified individuals must meet the initial eligibility requirements that apply to current servicemen and women and US veterans. Second, potential homebuyers must meet the minimum credit requirements. Third, a loan underwriter must determine if you have sufficient income to afford the VA home loan program. Fourth, an underwriter will consider your current debt-to-income ratio to determine whether or not you can afford the loan.

To determine whether you qualify for a VA mortgage, talk to one of our VA Home Loan Counselors today. We will be glad to assist you in fixing credit issues or applying for loan approval so you can begin searching for the perfect home.

C2 Financial Corporation is licensed by the California Bureau of Real Estate, Broker # 01821025; NMLS # 135622. C2 Financial is a VA approved lender; not endorsed or sponsored by the Department of Veterans Affairs or any government agency. Loan approval is not guaranteed and is subject to lender review of information. Loan is only approved when lender has issued approval in writing. Specified rates may not be available for all borrowers. Rate subject to change with market conditions. This licensee is performing acts for which a real estate license is required. C2 Financial is licensed by the California Bureau of Real Estate: Broker #01821025. NMLS #135622. California Bureau of Real Estate #01326712, NMLS#84095.
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