Capital Home Mortgage Alabama
Alabama VA Home Loans
VA Mortgage Lender Alabama
VA Home Loans Alabama
VA home loans are mortgages backed by the U.S. Department of Veterans Affairs. It is intended to assist qualifying veterans, active-duty service personnel, and surviving spouses in becoming homeowners. VA home loans are offered by private lenders. The VA guarantees a portion of the loan, allowing the lender to provide the borrower with more advantageous terms.
Home loans offered by the VA can be used for any of the following: purchasing, building, improving, or refinancing a home. Borrowers who meet the criteria for eligibility still need to have the minimum credit and income requirement necessary for the loan amount they wish to take out.
Qualification Requirements of a VA Home Loan
Multiple active duty service requirements must be met to qualify for a VA home loan, and these requirements vary depending on the length of time served.
If you served between August 2, 1990, and to present, you must have either:
- At least 24 consecutive months of service, the entire period (of at least 90 days) for which you were called or ordered to active duty, or you must have served for the whole time you were called or ordered to active duty;
- At least ninety days if you were discharged due to a reduction in force or a hardship;
- At least ninety days if you were discharged due to a hardship or a reduction in force. Less than ninety days if you were discharged due to a service-connected disability.
If you served between August 8, 1980, and August 1, 1990, you have met the minimum active-duty service requirement if you served for:
- At least 24 months in a row, or;
- The full-time you were called to active duty (at least 181 days) or;
- At least 181 days if you were let go because of a hardship or a cut in force. Less than 181 days if you were let go because of a service-related disability.
For complete eligibility requirements about VA home loans, visit the VA housing assistance page.
Qualifications for a VA-backed mortgage loan include good credit, regular income, and a current Certificate of Eligibility (COE). Moreover, one must be the primary occupant of the dwelling.
For a home to be eligible for a VA loan, it must meet the VA Minimum Property Requirements (MPRs) set forth by the Department of Veterans Affairs. The property’s safety and condition depend on your compliance with these regulations.
Apply For An Alabama VA Home Loan
At Capital Home Mortgage, we aim to simplify the application process. We handle your application from beginning to end and assist you in locating the most suitable loan program for your needs. Direct mortgage lending allows us to provide competitive interest rates and low fees. Call us at (205) 352-1030 and get your Alabama VA loan today.
Why Alabama HomeBuyers are Choosing Capital Home Mortgage
Close On Time
Complete Control from Application to Funding
Low Rates & Low Fees
Direct Lender with Competitive Rates and Low Fees
7 Day a Week Support Application to Final Mortgage Payment
Alabama Mortgage Rates
Have you ever wondered why interests rates are what they are and what determines the final rate? Why borrowers receive different interest rates? Or why rates go up and down? Interest Rates are calculated using several factors.
- Demand for the mortgage Securities
- Property securing the mortgage
- occupancy of the property
- Loan to value of the property
- Borrower’s credit worthiness
Alabama VA Purchase Loans
Proudly Serving Active Duty, Retired and Disabled Veterans obtain homeownership. Call today to speak to a VA loan officer.
- Simply Qualifying for Veterans
- No Down Payments Requirements
- Lower Credit Scores Accepted
- Manual Underwriting Allowed
- No Monthly Mortgage Insurance
- Seller concessions to 4%
- higher debt to income Allowed
- Manufactured homes permitted
alabama VA Refinance
Proudly Serving Active Duty, Retired and Disabled Veterans to Save Money. Call today to speak to a VA loan officer.
- VA IRRRL Rate & Term
- Streamline Option
- No Appraisal Required
- No Income Verification
- Cash-Out or Loan Conversion
- Full Documentation
- Appraisal Required
- Income Verification Required
Alabama VA Ellgibility
- Active Duty – 90 days Wartime / 180 Days Peacetime
- Honorable Discharged – 22 Months of Completed Service
- National Guard / Reserves – 6 Years Completed Service
- Spouse of a Service Member who Died in the line of Duty or Service related Disability