VA Loans were developed to help Veterans and VA Eligible Service Members obtain a home loan. Veterans, active duty soldiers and sailors, and qualifying family members can receive many benefits by participating in VA Home Loan Guaranty Program. When compared with conventional or FHA programs, the VA Loan benefit offers a number of significant advantages. The advantages to the VA Home Loan are listed below.

Am I eligible?

Advantages of a VA Guaranteed Loan Include:

100% Financing

• Most VA loans require no down payment which makes this one of the most popular advantages of the program. Loans are generally financed up to 100% of the sales price or appraised value (determined by the appraiser which is assigned by the VA). Typically VA lenders limit the loan amount that a veteran can borrow to $417,000. A down payment can prevent a Veteran who wants to purchase a home but, does not have the cash on hand to do so. Apply now to see if you qualify for 100% financing.

Low Interest Rates

• Generally VA fixed interest rates are the lowest available on the mortgage market, keeping your mortgage payment low. However many times rates are considered on a case by case basis. To get a quote please take a few moments to fill out our brief application to help us determine your qualification.

Less Restrictions on Credit Requirements

• VA loan credit requirements are less restrictive and have easier underwriting criteria than most loan programs available. Past credit performance is considered a useful guide in determining an individual's ability to repay their mortgage. A person who has made timely payments on past or current obligations represents reduced risk. Special consideration can be given to prior bankruptcies, foreclosures, judgments, late payments or applicants with less than perfect credit. Apply now to see if you qualify.

No Private Mortgage Insurance (PMI) Required

• VA Guaranteed mortgages do not require PMI. Conventional and FHA loans require the borrower to pay private mortgage insurance on any loan with less than 20% equity. Private Mortgage Insurance is insurance to offset losses in the case where a borrower is unable to repay the loan and the lender is not able to recover its costs after foreclosure. Since the VA guaranties your loan and PMI is avoided, this can save veterans thousands of dollars a year on their mortgage payments.

Little to No Money Out of Pocket

• The fees and settlement charges associated with VA Mortgages are comparable to those of conventional and FHA loans, but they are regulated by the US Department of Veteran Affairs. The VA protects Veterans from any unreasonable fees or costs by limiting allowable charges. In most purchase contracts, the seller may agree to pay the buyer’s closing costs, which allows you too move into a home with little to no money out of pocket. Our experienced VA loan specialists will work with your realtor to help ensure that the seller covers most if not all of your closing costs during the offer process.

No Pre-Payment Penalty

• Those Veterans who wish to payoff or pay down the balance of their VA mortgage can do so without penalty. This allows the Veteran to build equity quicker than many conventional loans. With many conventional loans, prepayment penalties can be a large financial burden on those who wish to pay down their balance. Apply now to see if you qualify.