VA Home Loans
VA Home Loans
NO MONEY DOWN
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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.
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 100% of reasonable value
- Can only be used to purchase primary residence
- Only married couples can be co-borrowers
- Borrowers with no credit can use 4 or 5 alternative lines of credit, including rent
- Cash reserves not required for 1 and 2 units.
- All required funds can be from a GIFT
Apply for a VA Loan with a VA Qualified Lender.
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