Designed to offer long-term financing to American veterans, VA mortgage loans are issued by federally qualified lenders and are guaranteed by the U.S. Veterans Administration. The VA determines eligibility and issues a certificate to qualifying applicants to submit to their mortgage lender of choice. It is generally easier to qualify for a VA loan than conventional loans.

VA loans are available for active-duty service members, veterans, current or former National Guard or Reserve members, and surviving spouses.

This loan may be used to buy a home or refinance an existing home loan.

Here’s how it works:

• 100% financing without private mortgage insurance or 20% second mortgage
• A VA funding fee of 0 to 3.3% (this fee may be financed) of the loan amount is paid to the VA
• When purchasing a home, veterans may borrow up to 100% of the sales price or reasonable value of the home, whichever is less
• When refinancing a home, veterans may borrow up to 90% of reasonable value in order to refinance where state law allows
• Must present Certificate of Eligibility (COE)
• Limited closing costs
• VA home loan is a lifetime benefit, you can use the guaranty multiple times
• Basic entitlement available to each eligible borrower is $36,000. Loans exceeding the available entitlement are available without a down payment providing the borrower’s income and credit qualify and property appraises for the asking price
• Maximum financing is $647,200. VA does not set a cap on how much you can borrow, however there are limits on the amount of liability VA can assume
• Competitive interest rates
• 0% down payment

To find out more about VA loans visit  https://www.va.gov/housing-assistance/home-loans/home-buying-process/

Apply today for your VA loan. Click below.

 

 ^{All loans subject to credit approval}