VA Loans/USDA Purchase or Refinance

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Do you Qualify for a VA Loan?

See below to see if you are eligible for a VA backed loan. Delaware Financial Capital Corp. is proud to serve current and veteran military personel to become home owners or assist them in reducing their current mortgae rates.

Who’s Eligible for a VA-Backed Loan?

  • Veterans
  • Active duty personnel
  • Reservists/National Guard members
  • Some surviving spouses

Category A: Veterans, Active Duty, and Reservists/National Guard Members Who Have Served on Active Duty

You can get a Certificate of Eligibility (COE) in any of three ways:

Apply online. Go to the eBenefits portal (http://www.ebenefits.va.gov) and click on the My eBenefits tab towards the top, on the left side. It will open a screen with several benefit areas. On the bottom right of the screen is the Housing tab. You will need login credentials to request a Certificate of Eligibility (COE). If you have them, enter your Username and Password, if you need to request login credentials, you can simply click on the “Request/Activate a DoD Self-Service Logon” link which is shown below the area where you logon.

Apply through us, Delaware Fianancial Capital Corp. In many cases, we can obtain a Certificate online in minutes. Check the table below entitled, “Evidence Needed for the Certificate of Eligibility.”

Apply by mail. Use VA Form 26-1880. Return it to the address shown on the form. If you can’t print the form, just call 1-888-768-2132 and follow the prompts for Eligibility.

Category B: Reservists/National Guard Members Who Have Never Served on Active Duty

You can get a Certificate of Eligibility (COE) in any of three ways:
Apply online. Go to the eBenefits portal (http://www.ebenefits.va.gov) and click on the My eBenefits tab towards the top, on the left side. It will open a screen with several benefit areas. On the bottom right of the screen is the Housing tab. You will need login credentials to request a Certificate of Eligibility (COE). If you have them, enter your Username and Password, if you need to request login credentials, you can simply click on the “Request/Activate a DoD Self-Service Logon” link which is shown below the area where you logon.

Apply through Delaware Financial Capital Corp. We can submit your application online for you. Check the table below entitled, “Evidence Needed for the Certificate of Eligibility.”
Apply by mail. Use VA Form 26-1880. If you can’t print the form, just call 1-888-768-2132 and follow the prompts for Eligibility.

[/column][column grid=”3″ span=”1″ push=”0″ class=””]Category C: Surviving Spouses of Veterans Who Died In Service or As a Result of Service

You must apply for the Certificate by mail.

If your veteran spouse died after service, VA must determine that the death was due to a service-connected disability. Please allow 2-3 months for this process unless you know that the decision on service-connected death has already been made.

Apply using VA Form 26-1817. If you can’t print the form, just call 1-888-768-2132 and follow the prompts for Eligibility. It will be mailed to you

Send the completed form to:

VA Loan Eligibility Center
Attn: COE (262)
PO Box 100034
Decatur, GA 30031

Finally:
We can make it easier for you to determine if you qualify. Just complete our easy to contact form and we will assist you and get you prequalified. Our professional family team will assist you, by sitting down with you and following step by step the entire VA process and get you in your home.

To see if you qualify for an FHA insured mortgage, just complete our contact form or give us a call at 302-266-9500 or toll free 877-266-9500.

More Resources direct to VA

Rural Development Loan Assistance Program (UD+SDA)

Guaranteed Housing Loans
Eligibility: Applicants for loans may have an income of up to 115% of the median income for the area. Families must be without adequate housing, but be able to afford the mortgage payments, including taxes and insurance. In addition, applicants must have reasonable credit histories.

The Advantages:

  1. No Down payment is required.
  2. Flexible credit score guidelines.
  3. No maximum purchase price limit.
  4. Closing costs can come from any source including gifts.
  5. Repairs and improvements can be included in the loan.
  6. Competitive fixed 30-year rates.

Eligibility criteria:

  1. Occupy the property as your primary residence.
  2. Do not own an adequate home.
  3. Be a U.S. citizen, a U.S. non-citizen national or a “qualified alien”.
  4. Provide stable and dependable income for repayment ability.
  5. Have a credit history that indicates a willingness to meet obligations as they become due.
  6. Have an adjusted household income that is within Rural Development guidelines based on the number of persons who will occupy the home.
  7. Purchase a residential property that is located in a Rural Development eligible area.

Resources:

Which properties are eligble for USDA financing?
Direct Housing Loans Explained
Basics of the USDA Program

View income limits for Delaware residents

To see if you qualify and the home you are looking to purchase is in a Rural Development eligible area, CLICK HERE.
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