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VA Loan

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VA Loan

Honor and Support for Veterans VA Loans are a highly valued home loan option for a significant reason. If you're a qualifying veteran or service member who seeks lower or no down payments, less stringent credit requirements, and the predictability of a fixed interest rate, it's time to look into the benefits of VA Loans.
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What is VA Loan mortgage?

A VA Loan is a mortgage loan in the United States guaranteed by the United States Department of Veterans Affairs (VA). The loan program was designed to offer long-term financing to eligible American veterans or their surviving spouses (provided they do not remarry), easing the path to homeownership.

Benefits

No down payment requirement
Making homeownership more affordable for eligible veterans, active-duty military personnel, and their spouses.
Lower interest rates compared to conventional loans
resulting in potential cost savings over the life of the loan.
No private mortgage insurance (PMI) requirement
reducing monthly expenses and potentially saving borrowers money.
Additional VA benefits and assistance available
such as support for disabled veterans and access to refinancing options.

Requirements

No Minimum Credit Score
VA loans don’t typically have a minimum credit score, but lenders usually look for a score of 620 or higher.
No Down Payment Required
VA loans do not require a down payment.
1% – 3% In Closing Costs
You’ll need 1% – 3% of the total purchase price to cover closing costs.
Debt-To-Income Ratio ≤ 41%
You’ll need a debt-to-income ratio (DTI) of no more than 41%.

VA Loan Loan Options

VA 15-Year Fixed
The VA 15-year fixed mortgage offers the assurance of a fixed, relatively lower monthly mortgage payment for its short span, supporting our service members.
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VA 25-Year Fixed
The VA 25-year fixed mortgage provides the serenity of a consistent, comparatively lower monthly payment over a quarter of a century, aiding those who've served.
Apply now
VA 30-Year Fixed
The VA 30-year fixed mortgage offers the tranquility that comes with a secured, lower monthly mortgage payment, beneficial for our veterans and service members.
Apply now

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