The VA home loan basics and why it could be your secret weapon to wealth. What if the key to owning your dream home is a benefit you’ve already earned, but almost nobody ever tells you about it. Today, I’m breaking down the basics of the VA home loan in a way that could save you thousands and even change your future. If you’re new here and you want simple, powerful breakdowns of the tools available to veterans and military families, make sure you hit the like button and subscribe and turn on your notifications so you don’t miss any new videos I post in the future.

Hi, I’m Alex Ramirez and I help veterans and military families and first time home buyers unlock powerful opportunities in building wealth through real estate. If you’re a veteran or an active service member, this loan isn’t just a benefit, it’s your advantage. Okay, let’s dive in.

What is a VA loan? The VA home loan is a special mortgage program created for military service members, veterans, and eligible surviving spouses. Unlike a conventional loan, it’s backed by the US Department of Veteran Affairs. The big win, you often don’t need a down payment. The majority of military vets and active service members that we work with don’t put a down payment. They go 100 percent financing. And this loan doesn’t have private mortgage insurance. PMI is gone. That alone can save you hundreds every month and thousands every single year.

Okay. So, who qualifies for the VA loan? If you serve 90 consecutive days during wartime or 181 during peace time or 6 years in reserves or national guard, you’re likely eligible for the VA home loan. Surviving spouses may also qualify. There’s some more detail on that. I’ll post another video in the future. And this benefit, you can use it more than once.

What’s a COE? To prove your eligibility, you’ll need a certificate of eligibility or also called the COE. It’s an official document from the VA confirming that you qualify for the VA home loan. This document is really simple to request. You can do it online or you can ask your lender and they can request it for you and they’ll send you a copy. I’ll go into more detail in my video all about the COE. So, make sure to check it out. Don’t miss it. Make sure you subscribe and like. It’s going to be posted really soon.

Okay. VA loan limits. So, this is something a lot of people don’t realize. And here’s something huge most people don’t know. If you don’t currently have an active VA loan, there’s no cap on how much you can finance as long as you qualify financially. So that means even high cost homes might be within your reach with 0 percent down. So why does this even matter? Imagine buying a home for $300,000 or maybe if you’re in California, you buy a home for $2 million with no money down. As long as you qualify financially, you don’t have to be saving for all those years. There’s no PMI draining your monthly budget. So you’re investing in your future sooner and saving potentially tens of thousands of dollars upfront by utilizing the VA loan. When you don’t have an active VA loan, there’s no maximum. So, make sure you take advantage of that.

If you want to see if you qualify or how much home you could afford, go ahead and grab my free VA loan eligibility checklist. It’s right there in the description. Go ahead, hit the link and I’ll send it right to you.

There are some myths and misconceptions about the VA home loan. So, let’s clear up a few myths. We’re going to talk about some of them here. Later on, in my other videos, we’ll be talking about a little bit more of them. You don’t have to be a first time home buyer. You can have less than perfect credit. And no, using a VA loan, you don’t have to live on the military base at all. This loan is all about freedom. It’s about building your future your way, the way you want to do it, and the way you earned it.

Let me know in the comments, what’s the biggest question you still have about the VA home loan. And when it comes to commenting, I personally reply to as many as I can. It’s going to be me. It’s not my team. I’m always going to be responding. I’m always going to be the one answering my phone, nobody else. So, you will always be reaching me and speaking to me.

I covered a little bit in this video and I’m going to be posting a lot more and it’s going to go more into detail so we can go step by step and learn how you can take advantage of your VA home loan benefit. And if you want to go even deeper and discover five hidden perks of the VA home loan, make sure you watch my next video. It’s going to be coming up real soon. Learn the insider tips most lenders don’t share. It could unlock even more power in your home buying journey. I’ll see you there.

Watch the full video here: https://www.youtube.com/watch?v=ET3d9uL76W4&list=PL7WBxOiWdVgYZS5n1ybT8UR1KtuNonFFu&index=2