VA Loans in Tucson AZ

VA Loans in Tucson AZ are becoming increasingly more popular. According to the US Census Bureau there are over 40,000 Veterans living in the city. Also keep in mind that Tucson is home to one of the largest Air Force Bases in our country (Davis Monthan Air Force Base) providing the city with a rich military feel on top of it’s already great history.

One of the things that I am seeing more of is Veterans and Active Duty Service-Members using and seeking information on how their VA Home Loan Benefits work. For Pima county and VA Loans in Tucson AZ the maximum loan amount for a VA Loan is $417,000 with now down payment. Veterans looking to purchase a home above $417,000 may do so by fulfilling the remaining guarantee on the loan (contact us for more details).

To qualify for a VA Loan the Veteran must have at least a 600 credit score (keep in mind this score may change from lender to lender). The Veteran must also provide income and asset documentation allowing the lender to calculate a debt-to-income ratio. The max debt-to-income ratio will vary dependent upon the overall VA Loan package.

VA Loans also come in all different shapes and sizes. A Veteran may obtain a 30,25,20,15 Year Fixed Rate VA Mortgage. The Veteran may also look at obtaining a 5 Year Adjustable Rate Mortgage with their VA Loan- commonly referred to as a VA Hybrid. Keep in mind that when Veterans are looking to obtain VA Loans in Tucson AZ they will want to pick the right Mortgage Lender. Most Lenders do not specialize in VA Loans and are unfamiliar with the details possibly making the loan experience more difficult than it needs to be.

Veterans and Active-Duty Service Members seeking to apply for a VA Loan in Tucson AZ can simply click on the APPLY button and either myself or a member of my team will contact you the same business day, or if it’s after hours, the next.

Jimmy Vercellino is a Marine Corps Veteran and Mortgage Originator Specializing in VA Loans. Jimmy’s mortgage practice serves Veterans with VA Loans in Tucson AZ as well as Phoenix. His Mission is simple: To provide and assist all Veterans and Active Duty Service Members with all of their VA Home Loan financing needs.

VA Loan Certificate of Eligibility

va coeThe VA Loan Certificate of Eligibility is a very confusing form for Veterans. As a Mortgage Originator Specializing in VA Loans I have to be honest in telling you that many lenders are even confused about this form. What is it? What does it mean? How do you read it? How do you get it? All of which are very real and valid questions when discussing such a form.

First let us start with the basics. The VA Loan Certificate of Eligibility is simply a form provided by the Department of Veterans Affairs to lender which states that you (the Veteran) are eligible for the VA Loan. It does however say that the Veteran is prequalified for the VA Loan. Keep in mind when seeking a VA Loan the Veteran must be prequalified in addition to obtaining the form.

Next let us take a look how to read it. On the VA Loan Certificate of Eligibility you will see the following verbiage. “This Veterans Basic Entitlement is $36,000.” Do not be alarmed. This does not mean that you can only get a VA Loan for $36,000 – all that means is that the VA guarantee’s the loan up to $36,000 for a loan up to $144,000. Now, there is something else called Bonus Entitlement – this amount is $68,250. For loans above $144,000 this will kick in. If you take a look at both of these numbers you will notice that the total of the two is $104,250 which happens to be twenty-five percent of $417,000 which is typically the maximum loan amount a Veteran can obtain with no money down. Remember Veterans that VA does not lend the money – they simply on insur the loan. Keep in mind you can have one of these forms and not be prequalified for a VA Loan (which is why it’s so important to consult with a VA Loan Specialist up-front).

For more information regarding your VA Loan Certificate or to obtain a copy feel free to roger up with us direct at

Thank you and may God bless you for your service to our great country!

Semper Fidelis,
Jimmy Vercellino