Veterans – How to Get a VA Insurance

One of the primary dreams of the military is to provide a comfortable home for their families. As such, the government designed the Veterans’ Insurance or VA Insurance – a program that would benefit military men to realize this dream that was actually woven into the ultimate American dream of providing a comfortable home for every American to live in. Here are some tips on how veterans can obtain such a insurance.

Find out if you qualify

Veterans, those on active duty, members of the National Guard, or select reserves may apply for a VA insurance, pending determination of eligibility. For applicants to determine their eligibility, one must submit a duly completed VA Form 26-1880 with proof of service. Eligibility is usually determined 10 days after submission.

Preview the house of your choice

There are many types of homes to choose, but of course, you just have to choose the one that best suits your preferences, needs, and lifestyle. Choices may complicate the decision-making process. But you can always seek help from real estate professionals licensed by the state government. They can determine reasonable price ranges and can help schedule home tours to inspect the home and see what’s there for you and your family.

insurance request

Sometimes, sellers may require buyers to provide pre-approval for a veteran’s home insurance. Thus, to make sure that everything will flow smoothly, you may want to get pre-approved even before closing deals. For some sellers, applying for pre-approval for a insurance indicates a serious interest in the property being sold.

Let the house for sale be evaluated

A home appraisal is also needed to take advantage of a veteran home insurance. In some states, pre-approval is issued along with a monitoring number to the lender to track assessment progress as well as the status of the insurance application. The main reason why an appraisal is necessary is to determine if the price of the house will be sufficient to become a security for the desired insurance.

You must remember that a VA insurance is designed with a payment system without a down payment. The government is relying on your honesty and trustworthiness to pay the monthly dues for the veteran home insurance. This is an acknowledgment of the dedicated efforts of you and those in your uniform to serve and protect the country, its territories, borders, resources, assets, interests, and people.

After completing all the above steps, you will be considered eligible for the insurance. With the help of the insurance agent, you will finally close the insurance clause termination deal to protect both the seller and the new owner from damages and losses. All documents will then be entered into the public records.