VA Loans Financing Service in Fredericksburg, VA
BEGIN YOUR HOME LOAN PROCESS TODAY!
Are you a veteran or current service member who needs a loan for a home? You aren’t alone, and our team at Dominion Capital Mortgage Inc. is ready to help you navigate this process. If you live near Fredericksburg, VA, or Richmond, VA, and you need a VA loans financing service, call our office.
What Are VA Loans?
Simply put, a VA loan is a loan that will allow veterans and current military members to purchase a home with either no down payment or a small down payment. This means that you can liquidate 100 percent of the home’s value. Additionally, these loans don’t require private mortgage insurance.
Oftentimes, VA loans may have a funding fee, although some exceptions do apply. Our team at Dominion Capital Mortgage Inc. can help you determine if you qualify for any exceptions.
What Are the Benefits of VA Loans?
The main benefit of VA mortgage loans is generally that you’ll be able to get into a home with no down payment. But VA loans have other benefits, including scenarios in which:
- The seller may pay the closing costs for the home sale.
- The lender for the VA loan assumes less risk.
- You can use a VA loan to refinance your home up to its full value.
Who Qualifies for VA Loans?
VA loans are generally available for military members who are actively serving or who were honorably discharged. However, reservists and some surviving spouses of deceased military members may also qualify.
Additionally, since the Department of Veterans Affairs backs all VA mortgage loans, this allows lenders to be more open with their guidelines. For example, you may still qualify for a VA loan if you have a low credit score or if you need a high debt-to-income allowance.
If you are ready to get into a home but you need some financial help, then contact Dominion Capital Mortgage Inc. at 804-441-6940.