A VA Loan is Designed to offer long-term financing to 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 FHA or conventional loans.
The VA offers great option to our veterans.
-Credit score minimums can go as low as 580
-Down payment is always 0% down, if you so choose
-Loan limits are up this year to $453,100
-If you want to buy a property above the loan limit, you are only responsible for 25% down payment on the overage
-If you are currently receiving disability from the military, your funding fee is waived
-No mortgage insurance is required
-Closing costs are lower the FHA or Conventional loans
-Rates are typically the lowest across the board
-Your VA benifits can be used multiple times
-You also have some amazing refinancing options Click Here to learn more.