Benefits of a VA Mortgage Loan
Purchase Loan
- Great Rates and Low Fees
- 0% Down Payment Requirement
- No loan Limits
- No Private Mortgage Insurance required
- Seller Paid Closing Costs up to 4%
- Simple Qualifying / Flexible Underwriting
- Higher Debt to Income Ratios Allowed
- Guaranteed by the US Department of Veteran Affairs
- Alternate Credit Allowed
- Manufactured Housing OK (Subject to Restrictions)
Refinance Loan
- Streamline Option – VA IRRRL (VA Interest Rate Reduction Refinance Loan)
- No Appraisal Required on VA IRRRL
- No Income Documentation Required on VA IRRRL
- Cash Out Options up to 100% of appraised home value
- Up to 30 Year Fixed Rate Terms
- All Costs Can Be Rolled Into The Loan
- Zero Cash Out of Pocket Options
- No Private Mortgage Insurance (PMI)
- Guaranteed by the US Department of Veteran Affairs
- No loan limits
VA loans have low or no down payment options available and do not have a mortgage insurance requirement resulting in lower monthly payments compared to other options.
- Loan Amount: up to $1,000,000
- Terms: Up to 30 Years
- Financing (Purchase or Rate and Term Refinance): up to 100%
- Financing (Cash Out) Option: up to 90% of loan value
- No mortgage insurance required
- No appraisal required (VA Interest Rate Reduction loans)
- Zero closing cost option
- Interest rate reduction loans (VA Refinance)
VA Rates
getting rates...
30 Year VA
100% loans to Conforming
Jumbo Options available
| Table Header | Table Header |
|---|---|
| Minimum FICO Credit Score | 620 |
| Minimum Down Payment | 0% |
| Maximum Loan To Value | 100%* |
| Maximum Debt To Income | 41%* Exceptions to 50% |
| Mortgage Insurance | No |
| Years Since Bankruptcy | 2 |
| Years Since Foreclosure | 2 |
| Years Since Short Sale | 2 |
| Special Qualification Requirements | Must be U.S. Veteran |
