What is a VA Home Loan?
- VA stands for US Veteran’s Affairs
- Available to US veterans, active duty, or non-active members of the military or their surviving spouse who still hold Veteran’s Benefit Eligibility.
What Are the Benefits of a VA Home Loan?
- VA Home Loans can be up to 100% of the purchase price of the home.
- VA Home Loans do not require mortgage insurance premiums. That is a huge savings off your closing and monthly fees. Normally these fees are charged on loans with less than 20% down!
- VA Home Loans have very competitive interest rates, usually similar to FHA and FNMA loan interest rates.
- VA Home Loans are available up to $417,000.
- IRRL or Interest Rate Reduction Loans are available to qualifying homeowners regardless of property values.
- VA Home Loans qualify with credit scores as low as 620.
How Do I qualify for a VA Loan?
VA Loans are for active or non-active members of the military or their surviving spouses who still have Veteran’s Benefit Eligibility.