WHAT IS A VA HOME LOAN?
A VA loan is a mortgage backed by the Department of Veterans Affairs (VA) that allows military veterans, current service members, reservists and in certain situations surviving spouses to purchase a home with little or no money down. Available for purchases, refinances, cash out and streamlines (IRRRL). The VA loan allows for up to 100% of the home’s value to be liquidated and in most cases doesn’t require monthly mortgage insurance. Depending on the certificate of eligibility (COE) the applicant may or may not have to pay a funding fee to the VA, most instances that fee can be included in the new loan.
Advantages: 100% financing, credit scores as low as 550, higher debt to income allowances, and no money required to purchase in most cases.
Programs: Purchase, Cash out, IRRRL.
BENEFITS OF VA LOANS
WHO IS ELIGIBLE FOR A VA LOAN?
In most cases, any active duty or honorably discharged service members are eligible for a VA loan. If the criteria below describe you, you may qualify for a VA Loan:
We offer the assistance you need to help find the best option for your mortgage needs. Whether you are consolidating your debt, refinancing your home, or buying your first house, we have the expertise to make it a fast, easy, and enjoyable process. Start your process now! Or call us at 888- 607-0404
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