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VA Mortgage

What is a VA Mortgage?

A VA mortgage is a home loan backed and guaranteed by the U.S. Department of Veteran Affairs.

The Veterans Affairs created this loan program to help Service-members, Veterans, and eligible surviving spouses become homeowners.

The VA built some amazing features into VA loans that make home ownership much more affordable.

One of the best features is that there is no down payment for a purchase made with a VA loan. If that wasn’t great enough, how about this?

There is no monthly private mortgage insurance (PMI) payments to be made like other loans.

Reap The Benefits of Your VA Loan Privileges

  • No down payment – almost no other loan offers this feature
  • Refinance up to 120% of your homes appraised value
  • Jumbo VA programs up to 1.5 million
  • You can use your VA benefits more than once!
  • Low VA mortgage rates
  • Relaxed lending guidelines
  • 620 credit score requirement
  • Basic allowance for housing costs allowed towards your monthly mortgage expense
  • No prepayment penalties
  • Include the funding fee into the loan amount to reduce closing costs

VA Mortgage Pros & Cons

ProsCons
No down payment required Difficult appraisal process
No private mortgage insurance is allowed Sellers are sometimes hesitant to sell to a VA applicant
Easier lending guidelines One time funding fee which is financing into the loan balance
Lower or no funding fee for qualified disabled veterans Complicated loan process

Apply now for a VA Home Loan

Start our easy loan application process today and take one step closer to home ownership.

Ask us Anything

If you're interested in a VA loan program and you want more information or if you would like to get started then leave a message or give us a call at 661.799.8515.

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