Contact Kate VA Home Loan

by Veteran Home Owner

Contact Kate regarding a VA home loan: Hi Kate, I have two questions about a VA home loan. First, I took a VA loan nearly 20 years ago. I understand that I can still get another VA mortgage but I need to show proof that I paid the first one off and no longer own the home.


Since I sold the home more than 15 years ago, what would be the easiest way to get proof that the loan was paid and I no longer own the home?

Second question: Is there an eligibility calculator out there to see how much I would be eligible to borrow on a VA home loan?

Our gross is about $75k, and we don't have any loans (other than current mortgage, and we will sell the current house first) or revolving credit payments. Of course I have deductions for pension and medical premiums, as well as other recurring expenses like utilities and food. I'm hoping to be eligible for $200k.

Answer: Contact Kate VA Home Loan

Dear Veteran Home Owner, VA mortgage loans are a great way to buy a house and refinance. Veterans can use them in combination with zero down payment or in the case of refinancing, with little to no equity.

You are right, proof of paying off the prior VA home loan will be necessary. Thanks to ACE, the automated certificate of eligibility system, your lender can do this for you, sometimes in seconds.

Sometimes ACE can't provide the certificate of eligibility in which case your lender will use another method that might be a little slower. So take into consideration your VA home loan could require several more days for processing.

Your mortgage broker or lender will also order title insurance. The chain of title on the title insurance policy should report change of ownership.

Also, if you saved your paperwork after selling the house, it should contain documents of proof that you sold the house and paid off the VA home loan.

Homeowner Tip: Create a file when you sell a house and save it in a secure location. You could need the paperwork for multiple reasons in the future.

The best advice I can give you for determining your qualification is to contact your lender for mortgage pre approval. Underwriting guidelines change over time. So a VA home loan lender is best equipped to give you specific numbers.

Looking for a home mortgage payment calculator? This one is so much fun, once you start using it, you might not be able to quit!

I hope you'll come back to my website again in the future. Of course, all of my information is free.

So remember to bookmark Get-Your-Best to your favorites and visit often for up to date tips for buying a house, mortgage news and refinancing advice.

You can also invite friends to comment on this page or create a page of their own like you did.

And many thanks to you for serving our county.

Learn more about a VA home loan.
Best Wishes,




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