THANK YOU FOR YOUR SERVICE
VA Loan
A VA loan is a mortgage loan guaranteed by the U.S. Department of Veteran Affairs (VA). We take pride in doing our part to improve the lives of those who served our country.
VA LOAN
Advantages
- No down payment required
- No funding fee for qualifying disabled veterans
- No private mortgage insurance (PMI) allowed
- Less restrictive qualification guidelines
- Streamline refinance loan programs available
- Access to low VA mortgage rates
- Does not allow for extraneous loan charges
VA LOAN
Disadvantages
- VA funding fee (which can be financed into the loan)
- Sellers may be hesitant to sell to a buyer using a VA loan
QUICK REFERENCE
VA Loans Explained
The VA loan was created to offer financing to eligible veterans and their surviving spouses with no down payment.
Who is Eligible for a VA Loan?
- Veterans
- Active Duty Personnel
- Current or Former Reservists/National Guard members
- Some Surviving Spouses
What are the Benefits of a VA Loan?
- Purchase a home at a competitive interest rate often without requiring a down payment or private mortgage insurance, which gives you more savings.
- Cash-Out Refinance options allow you to take cash out of your home equity to take care of concerns like paying off debt, funding school, or making home improvements.
- If you have a service-related disability, you may qualify for waived funding fee, reducing closing costs.
- Borrowers can often refinance to a lower rate within the VA program without re-qualifying for the program.
