VA Loans: A Step-By-Step Guide to using Your VA Home Loan in 2024

[@JimmyVercellino]

Thanks for watching everybody! Remember to comment below with your questions and I'll be sure to get them answered. You can also email me at [e-mail]

[@Andy-rp9bp]

Coming off rotation, got a good job to go back to (Guardsman) and sick of renting. Will absolutely be using this. Thank you for this video.

[@JimmyVercellino]

My pleasure Andy! I'm here to help when you're ready.

[@art-alchemy]

Thanks for all of the updates. New Subscriber, I live in Southern California so this great information for me since I will be a first time buyer. In California the state also has another loan program.

[@JimmyVercellino]

Love it - welcome aboard!

[@MultiTristan2011]

So you specialize in VA Loans? What are the extra benefits to the VA loan for 100% disabled veterans?

[@JimmyVercellino]

That's correct. 100% Service Connected Veterans may be entitled to have their property taxes waived. Veterans that have a VAD rating of as little at 10% are entitled to have their entire VA Funding Fee waived which saves even more money.

[@mr.z3161]

What did you mean by CEO in the beginning of your video as part of the process? Or did I hear it wrong. was it Certificate of eligibility? Whats the recommended amount of money should I maintain in my checking account as proof of assets or is saving account sufficient?

[@JimmyVercellino]

COE - Certificate of Eligibility. Regarding months of reserves, the more the better but 3-6 months is what I reccomend for my clients.

[@caroljackson1313]

Thank you for all the great information. I have soo many questions. I’ll start with an easy one , does the MLO need to be in the same state as I am? To be honest I’m asking when I’m ready to purchase could I use your services. I live in the state of Florida. Thanks Brother

[@JimmyVercellino]

Hi Carol, not at all. I serve Veterans nationwide and would be honored to assist you. Please feel free to contact me direct at [e-mail]

[@gregoryschleicher7886]

Hi Jimmy, thanks for all the informative videos. My wife and so are contemplating using our VA loan, but with high interest rates how can we navigate this/what are ways to go through the process with a more favorable rate? Waiting for more attractive rates in the years to come, buying down interest rate, or purchasing now and then refinancing later with NavyFed? Thanks again

[@JimmyVercellino]

Buying down the rate is an option. Another option is a 2/1 buydown as well. This allows you to have a below market rate for years 1 and 2 then it converts to the final note rate. Let me know if you have more questions. I would say it's better to purchase now with a higher rate then to wait for rates to drop becuase more buyers will come back into market pushing values up even higher.

[@scowden1313]

A disabled war vet of 80% once to get a VA loan to buy a home what all documents does he need and where does he get them?

[@JimmyVercellino]

VAD award letter, and a few other items. You can watch my videos on that.

[@ShemaiahIsrael-b5x]

Hey man great video. I have a question. Being an active service member. On my W2 it has one amount while my LES has a different amount. The difference being $9000 to the upside. Is there a way to account for that in my pre approval process or do mortage lenders only go with what's on the W2 and will not accept my LES as proof of income?

[@JimmyVercellino]

Hi there - we'll absolutley use your LES. The main reason your W-2 is less is becuase it does not reflect your BAH and BAS which are non taxable. We'll use that for qualifcation purposes. If I can personally assist yiou and be a resource please don't hesitate to reach out. [e-mail]

[@hitman1421]

How do you free up your VA entitlements. If you want to get a second VA loan?

[@JimmyVercellino]

Either A) refinance the loan B) pay off the loan or C) use the remaining amount you have leftover (if any) towards the next purchase. If you want specific guiance on your scneario you're welcome to email me at [e-mail]

[@joeytrust4393]

If pursuing new construction, would a veteran have to make monthly payments on a house-to-be during the construction phase?

[@JimmyVercellino]

If it’s a construction to perm loan the VA does not allow the veteran to make payments while the home is being built. Thanks!

[@PhatRobsOils]

Been working on my credit, really killed it when i was younger, im 100% Service Connected, i have a 615 Credit and a 610 Fico, would this be acceptable to start applying?

[@JimmyVercellino]

I think so. Depending upon the lender you work with you may need to boost the score by 10 points or so to fall inline with their required scores. There may be lenders that will go below a 620 however, I always reccomend a Veteran have 620 becuase it helps them to get more competitive financing terms + increase the likihood you'll be approved.

[@JoseGarcia-k1e]

Hey Jimmy if my state id is expired but everything else is good can I still buy a house using the va loan?

[@JimmyVercellino]

If you have an alternative form of valid ID yes. If not, you'll need to get that updated before you can close.

[@scowden1313]

What does a va home loan do for the vet? Will it be cover if he does before it's paid off( his home loan)

[@JimmyVercellino]

It allows a vet the possibility of purchasing a home with no money down.

[@hinicetomeetyou7801]

hello, so im currently in the army reserves and is soon to deploy next year for 1 year in a different country. would i qualify for the va loan when i get back to US?

[@JimmyVercellino]

Yes, you would.

[@hennydemi_]

Hi Jimmy. I been working on my credit for quite sometime and gotten to a 670+ credit score. I’ve talked to lenders and did the AUS and it comes back as an error message that says “ineligible referred”. Have you dealt with this before?

[@JimmyVercellino]

We’re headed in the right direction Demetrius 💯💪

[@hennydemi_]

@@JimmyVercellinoExcited to hear. Thank you for your help

[@williamnaumann2287]

Could I get a VA Loan to fix the house I already own. I had my house appraised for 55000 so he told me that I would qualify for 44000. But I don't know what to do.

[@JimmyVercellino]

Cash out refinance? Yes, that can be done! [e-mail]

[@luciusgorgo14]

I am a veteran working on his own business and I have not made profit yet. Can I use my wife income? My current VA loan is in my name.

[@JimmyVercellino]

No issues with that.

[@RLTW_03]

🇺🇲💪🔥

[@JimmyVercellino]

💯💯💯💪💪💪

[@TruthTellerReacts]

What states are you licensed in? What's your phone number?

[@JimmyVercellino]

Hello, we're licensed to lend in all 50 states. You're welcome to email me at [e-mail]