VA Home Loans

The VA mortgage loans are one of the best and safest methods to use when buying a home. Now even active duty personnel can qualify. If you are a Disabled Veteran, you may qualify for additional benefits on a VA home mortgage loan. The VA Home Mortgage Program does not limit the number of times a veteran may use the program.

The VA Offers Loans up to the Conventional Loan Limit and also offers VA Jumbo Mortgages for higher priced homes

The VA mortgage loans extend to not only the Army, Navy, Air Force and Marines but also to Reservists and National Guardsmen.

Most people getting a VA loan are going to have what’s referred to as full entitlement. If you have full entitlement, as of 2020, you don’t have a loan limit. The VA will guarantee 25% of whatever a lender is willing to approve you for.

You have full entitlement under any of the following four scenarios:

  • You’ve never used your VA loan entitlement.
  • You’ve used your entitlement to buy or refinance a property previously, but you’ve since sold and fully paid off your VA loan.
  • You had a previous VA loan that wasn’t fully paid off because of a foreclosure or short sale, but you’ve since fully repaid the VA.
  • You paid off a VA loan without selling the property. You can have your entitlement restored this way one time.

Some of the benefits of the VA Loan Program are:

100% Financing - No Money Down

You do not have to put any money down to qualify for a VA Home Mortgage Loan. If the seller agrees to pay the closing costs, you may be able to purchase the home with no out of pocket costs. The loan and sales contract can be set up so that the VA Home Mortgage Loan cover 100% of the selling price and the seller covers the closing cost.

The VA Funding Fee

The Veterans Administration assesses a Funding Fee to all VA loans between .5% and 3. The fee is added into the amount of the loan to be paid over the life of your VA home mortgage loan. The VA Funding Fee replaces the much higher priced Mortgage Insurance required when you get an FHA or conventional home loan. If you are a Disabled Veteran, you may qualify to get the fee waived completely.

Construction to Permanent Loans for Building

Our VA construction loans feature:

  • Land, Construction, & Mortgage in a single, low-interest loan
  • 0% down payment.
  • Easy qualification
  • Close one time
  • Fees & Construction interest can be included into the loan
  • No payments during construction

Qualifying for a VA Mortgage Loan

The VA offers excellent qualifying standards. The VA does not use credit scoring in their analysis of the loan. Even if you have experienced some financial difficulties in your life that caused your scores to be low but have maintained a good payment record over the past year or so, you may qualify for a VA mortgage loan. This can be a tremendous savings compared to the cost of conventional loans when the borrower's credit scores are low.

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VA Mortgage Loans may be refinanced

VA mortgage loans have built in features allowing a loan to be refinanced to a lower interest rate without all of the criteria normally associated with a conventional loan. This is called an Interest Rate Reduction Loan; the veteran can secure a lower interest rate without any credit checks, appraisal, and income or asset verification and can roll the costs of the transaction into the loan so there are no out of pocket costs.