Tip of The Day...

Did you know that you may be able to get a VA loan even if you have had one before?

According to the VA's website at http://www.benefits.va.gov/homeloans/faqelig.asp 

"your eligibility is reusable depending on the circumstances. Normally, if you have paid off your prior VA loan and disposed of the property, you can have your used eligibility restored for additional use. Also, on a one-time only basis, you may have your eligibility restored if your prior VA loan has been paid in full but you still own the property. In either case, to obtain restoration of eligibility, the veteran must send a completed VA Form 26-1880 to our Winston-Salem Eligibility Center. To prevent delays in processing, it is also advisable to include evidence that the prior loan has been paid in full and, if applicable, the property disposed of. This evidence can be in the form of a paid-in-full statement from the former lender, or a copy of the HUD-1 settlement statement completed in connection with a sale of the property or refinance of the prior loan."

So, even if you've had a VA loan before you can still apply for a new VA loan!  For more information contact the Dan Davidson Mortgage Team at 801-560-2333 or ddavidson@primelending.com today.