VA Home Loans Explained: Eligibility & Requirements

Is a VA Loan right for you? Alex Scoma, a Mortgage Advisor at Samuel Scott Financial Group, explains VA financing and what you need to do to qualify for a VA loan.  Please continue reading below…

The VA loan is designed for active or retired military, Coast Guard and National Guard personnel.  A surviving spouse can also qualify for a VA loan.  The first step in qualifying for a VA loan is to make sure that you are VA entitled.  The regulations tend to be different for service members depending on factors such as when they served, the nature of their service, and how much time they spent in uniform.  The quickest way to make sure you are eligible and have VA entitlement is to get a DD214 form, which any qualified mortgage advisor can assist with obtaining and filling out.

VA loans are terrific loans.  One of the key features is that you have the option to put 0% down for financing loans all the way up to the San Diego County loan limit of $477,000.  Qualifying for a VA loan is also a lot more lenient in regards to the debt to income ratio.  You can put 0% down and are allowed to go higher into the debt to income ratio, which means a client can typically qualify for more of a loan.  Definitely a plus for those active or retired service members!!!

The second step entails qualifying and getting pre-approved for a VA loan and is relatively straightforward.  Usually a Mortgage Advisor will need to see at least two months of the most recent Leave and Earning Statements (LES) that all active members and some retired members get as well, two years of W-2’s and tax returns if necessary.  If you are retired, the Mortgage Advisor will look at retired income still received from the government, as well as civilian income if they are still out in the workforce.

For all that our military members do for our country, it is great that they are given the opportunity to purchase their home at an affordable interest rate and with 0% down!

To learn more about VA loans or to see if you qualify, talk to a Samuel Scott Mortgage Advisor today.


Carmel Valley San Diego Community | Alex Scoma | Samuel Scott Financial GroupAlex Scoma is an original member of Samuel Scott Financial Group and one of their best Mortgage Advisors. Known as a real “people person”, his strengths lie in a strong service mentality towards each individual client.

Alex takes the opportunity to meet the needs of his clients seriously and is proactive in finding solutions, ideas and programs that make sense for them.  His strategy for success:  solve problems, build relationships and have fun in the process.

Coming from a long line of service professionals, he is in the perfect place to continue the legacy of helping people reach their financial goals. He is not satisfied just to fund and close a loan, but truly takes personal interest in making sure the loan is the best one for the client.

Born and raised in La Jolla, Alex comes from a large family, all living in San Diego. He is married to his high school sweetheart, Natalie Royston, and they have an adorable baby boy named Chase.

Samuel Scott Financial Group is a boutique mortgage company recognized for superior customer satisfaction and the way they tailor the residential loan process to every individual client.  Todd “Samuel” Pianin and Brian “Scott” Reynolds founded the company on the principles of long lasting relationships, and a sincere honest approach to every single individual we serve.  Consistent and reliable, Samuel Scott Financial Group has been selected as The

Carmel Valley San Diego Community | Samuel Scott Financial GroupBest Mortgage Company in San Diego for the 5th straight year by readers of local publications.

President:  Todd Pianin

Vice President of Sales:  Russ Schreier

Mortgage Advisors:  Christian Alvarez,  Dean Brown, Mark Buchanan, Mitch Palmer, Brian Reynolds, Debra Roberts, Mark Robertson, Alex Scoma, Brian Shaw, Keith Sims, David Talbott.

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Samuel Scott Financial Group is licensed by the CA Dept. of Real Estate license #01458652 and NMLS identifier 235584. ©2011 Samuel Scott Financial Group. All rights reserved.


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