VA Loans

A VA loan is a mortgage loan guaranteed by the U.S. Department of Veteran Affairs (VA) that is available to most US service members. It offers some very great benefits to those that have served our country.

Benefits of VA Loans

  • They are usually easier to get because the Government insures the loan so that there is much less risk to the lender
  • If you already have a VA Loan you might be eligible for a VA Streamline Refinance
  • Disabled Veterans may qualify for a waiver of the Funding Fee if they receive any disability payments from the VA or if they are considered to be at least 10% disabled
  • You can buy a home with no money down
  • You can refinance your home up to 100% of the value of your home
  • You never have to pay PMI (Private Mortgage Insurance)
  • Sellers can pay your closing costs

Commonly Asked Questions

Who Is Eligible for a VA Loan?

As a rule of thumb, almost all active duty or honorably discharged service members are eligible for a VA loan.

You may be eligible for a VA loan if any one of these statements describes you:

  • 100% Financing — you can buy a home with no money down. In some cases you can even finance your closing costs
  • You can refinance your home up to 100% of the value of your home
  • Low Fixed-Rate Mortgage Options
  • They can be used for Existing Homes, Foreclosures or New Construction
  • Simple Loan Process

What is the VA Funding Fee and is it required?

Yes, it is required. It is a fee paid directly to the Department of Veteran’s Affairs so that they can guarantee your loan and provide you with the opportunity to receive a loan with little-to-no money out of pocket.

How much is the VA Funding Fee?

It depends on several factors including: whether you are Active Duty, Retired, Guard or Reserve and whether this is a first time use, subsequent use, or a cash-out refinance as well as how much of a down payment you are putting down. The fee can range from as little as 1.25% up to 3.3% of the loan. Generally, the more money you put down the lower the VA funding fee. Please contact us and we will help you to determine how what the exact cost of the VA Funding Fee will be for your particular situation.

Check to see if you qualify for a VA Loan: