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VA Mortgage Loans

Veterans who qualify are eligible to take advantage of the VA mortgage loan program, a specialized loan type provided exclusively to veterans of the US Armed Services.  These loans are backed and guaranteed by the Department of Veteran Affairs (VA) and offer highly beneficial financial advantages to veterans who qualify.

VA Mortgage Loan Information

The VA loan program is a nationwide initiative that helps veterans purchase homes and refinance their mortgages.  The goal of the program is to enable veterans who have served this nation bravely and selflessly to transition into homeownership and build stable wealth.

The VA itself does not provide any of the loans.  VA loans are funded through private lenders who, through the backing of the VA, are able to offer some of the best rates available in the entire mortgage marketplace to the veterans they work with.  The government takes on some of the risk associated with a VA loan, and this allows lenders to provide multiple unique, favorable terms to veterans that are otherwise unavailable to other borrowers.

The lowest VA mortgage loan rates are not hard to find if you take the time to conduct the proper research.  Contact several lenders to get a feel for where the mortgage marketplace sits, then make your financial plans based upon the rate you’ll likely qualify for.  We can help you get started on this.  Fill out the form above to contact lenders today.

VA Loan Benefits

There are many benefits tied to VA loans, but some of the most common and most valuable are listed below.

• No down payment necessary, unless you want to pay it.  You don’t have to save thousands of dollars of cash to gain equity in your new home from the start.  The VA mortgage is truly a zero down mortgage, and there aren’t many loans like this available anymore.
• You don’t have to purchase private mortgage insurance.  This is one of the biggest advantages of a VA loan.  No insurance means you save hundreds of dollars at closing and in the months thereafter.
• You don’t need to show proof of a high credit score.  VA loans are available to veterans with modest credit and income.
• There are no penalties attached to early repayment of the loan.  You can pay your loan off faster than others and save significant interest money.
• Some closing costs are eliminated, while others can be packaged into the loan amount itself.  In some cases, veterans can purchase homes without paying a penny at closing.

VA Loan Requirements and Eligibility

VA loans aren’t available to everybody, but they are available to most veterans.  Many veterans, in fact, are unaware of their eligibility to receive specialized funding.  If you’ve served in a branch of the US Armed Services for at least 90 continuous active days during wartime or 181 continuous active days during peacetime, you qualify.  Oh, but be aware that a dishonorable discharge, at any time during your military tenure, will disqualify you from your VA loan eligibility.

You can obtain a Certificate of Eligibility from the Department of Veteran Affairs.  This document proves your qualification as a veteran.  Take this certificate with you when you meet with a VA loan specialist to apply for your loan.

VA Refinance Information

You can apply your VA eligibility to your current mortgage in the form of a VA streamline refinance if you’ve already purchased a home and you’re making payments on an existing mortgage.  The streamline refinance program allows you to avoid some of the paperwork and fees typically associated with a refinance.  This gets your new loan in place faster and more affordably than any other refinance option.

Many veterans are unaware of this VA refinance opportunity.  It’s a chance to save a lot of money on your monthly payments, and it’s fast and simple.

VA Mortgage Rates

Mortgage rates are critical to any loan deal.  VA loans are unique, though, in that they often come with mortgage rates that are below what lenders offer on other loans.  Despite this, it’s still essential that you research rates offered by many different lenders to determine what rate you’ll qualify for.  The stability and financial benefit of your VA loan depend on this.  Find the lowest mortgage rates offered in your area and compare them to uncover select the best deal.

VA Lenders

Many lenders specialize in providing VA loans to veterans.  Identify the lenders who offer the best VA rates and have the most experience with this loan type.  To get started on your research, fill out the form at the top of this page.  We’ll match you with up to four local lenders in your area who are prepared to contact you regarding your VA loan today.  Start your mortgage off right by getting in touch with a mortgage professional who can meet your needs today.

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