2024 VA Loan Benefits Explained - VA Loan

Are you a veteran first time home buyer interested in buying a house using your VA benefits in the 2024 housing market? What are the most recent VA loan requirements for 2024? What credit scores do you need for a VA Loan? How long do you need to be employed? How much downpayment does the Veteran Affairs require? What are the pros vs cons of VA Loans? In this video, we are going to discuss the 2024 VA Loan Requirements, answer some common questions around VA and show you how to do some basic VA calculations with regards to the upfront funding fee.

✅ - Get a Referral to a Mortgage Lender or Realtor - http://www.jebsmith.net/referral

🏠 - First Time Home Buyer Course - http://www.becominghomewise.com

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What is a VA loan? A VA loan is a mortgage loan in the United States guaranteed by the United States Department of Veterans Affairs

Check your VA Eligibility -
https://www.va.gov/housing-assistance...

VA Approved Condo List - https://lgy.va.gov/lgyhub/condo-report

VA loan requirements 2024

✅Active Duty or Served 90 Continuous Days/Met length of service requirements which is generally 90 days in wartime and 181 days in peacetime/completed 90 days of active duty or 6 creditable years in selected reserve or national guard/surviving spouse of a veteran who died while in service or from a service related disability and have not remarried.
✅ FICO® score at least 580 (there are exceptions but they come with a cost)
✅ No Down Payment Required
✅MIP (Mortgage Insurance Premium ) is NOT required on VA Loans.
✅Debt-to-Income Ratio less than 41%. (Actually you can go much higher than this)
✅Condos have to be VA approved
✅The home must be the borrower's primary residence.
✅Borrower must have steady income and proof of employment.

Jeb Smith (Huntington Beach Realtor/orange county real estate)
DRE 01407449
Coldwell Banker Realty
I N S T A G R A M ➳   / jebsmith  
➡T I K T O K➳ https://www.tiktok.com/mrjebsmith

#housingmarket2024 #RealEstate #VA