We first want to take this opportunity to say "Thank You!" to our Veterans. For those of you who have just returned, Welcome Home! You are truly the best of the best and we can't show enough of our gratitude for your service and dedication.
It's our privilege to now serve you!
So, What Exactly Is A VA Loan?
VA Loans are Loans that are made by lenders and guaranteed by the U.S. Department of Veteran Affairs (also known as the "VA") to eligible Veterans for the purchase of a home. In most cases, there is NO DOWN PAYMENT required on a VA guaranteed loan and the borrower usually receives a lower interest rate than is ordinarily available with other loans.
Some Other Benefits of a VA Loan Include:
- Negotiable Interest Rate
- Closing Costs Comparable – Sometimes Even Lower - Than Other Financing Types
- No Private Mortgage Insurance Requirement
- Right to Prepay Loan Without Penalties
- Mortgage Can Be Taken Over (or “Assumed”) by The Buyer When a Home is Sold
- Counseling and Assistance Available to Veteran Borrowers Having Financial Difficulty or Facing Default on Their Loan
Although Mortgage Insurance is not required, the VA still charges a Funding Fee to issue a guarantee to a lender against borrower default on a Mortgage. The fee may be paid in cash by the Buyer or Seller, or it may be financed in the Loan amount.
Your VA Loan can be used to buy a Home, build a Home or even improve a Home with energy-saving features such as solar or heating/cooling systems, water heaters, insulation, weather-stripping/caulking, storm windows/doors or other energy-efficient improvements approved by the Lender and VA.
To get started with Qualification for a VA Loan, we'll need to review your Certificate of Eligibility from the VA. If you need help getting your Certificate, click here to be taken directly to the VA Home Loans Resource Center. For even faster service and getting your Certificate online, click here instead.