The United States has more than 25.5 million veterans and service men and women. Because of their diligent service, President Franklin D. Roosevelt provided veterans with a federally guaranteed home with no down payment. This section of the G.I. Bill was designed to provide housing and assistance for veterans and their families. The dream of home ownership became a reality for millions of veterans. Here we’ll tell you how to apply for and get a Utah VA loan so you can be one step closer to owning your own home.
First of all, you have to be eligible for a Utah VA loan. Eligibility for the VA loan, as defined by the G.I. Bill, is defined as “Veterans who served on active duty and have a discharge other than dishonorable after a minimum of 90 days of service during wartime or a minimum of 181 continuous days during peacetime.” There is a six-year requirement for National guards and reservists with certain criteria and there are specific rules concerning the eligibility for loans of surviving spouses.
To certify your eligibility for VA loans in Utah, you need to apply for a Certificate of Eligibility. Complete the VA Form 26-1880, Request for a Certificate of Eligibility for VA Home Loan Benefits, and submit it to one of the VA Eligibility Centers in Utah with copies of your most recent discharge papers covering active military duty since September 16, 1940. These papers will show your active duty dates and type of discharge.
Next, you need to contact an experienced real estate agent to help you find a home! After you have decided on a home, sign a purchase agreement.
The third step in getting a Utah VA loan is to order an appraisal from Veteran’s Affairs. Call your local VA office in Utah for details.
Next, contact a mortgage lender for the remainder of the loan. The VA loan is a good piece of what you’ll need, but it is usually used for a down payment. You will still need to finance the rest of the home cost. While the appraisal is being done, the lender can be gathering credit information and other information from the VA.
After your loan is secured, you’re ready to close on your new home and move in!
Contact your local VA office to make an appointment to sit down and talk with someone in detail about VA loans in Utah. And thank you for your service!
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