Is a VA Loan Right For You?
VA loans are a great option for Servicemembers, Veterans, and eligible surviving spouses. These loans can be used for buying, building, retaining, repairing or adapting a home. Since these loans are guaranteed by the VA, lenders can give you much more favorable rates.
If you are interested in learning more about a VA loan please contact us!
VA Loan FAQs
How do I know if I qualify for a VA loan?
There are a number of factors that determine eligibility for VA loans. The length of service and/or duty status may affect your eligibility for specific home loan benefits. Credit score, sufficient income and a valid Certificate of Eligibility (COE) are all factors. To find out your options please contact one of our mortgage professionals.
What are the benefits to a VA loan?
VA loans have many advantages including:
- No down payment as long as the sales price doesn’t exceed the appraised value.
- No private mortgage insurance premium requirement.
- VA rules limit the amount you can be charged for closing costs.
- Closing costs may be paid by the seller.
- The lender can’t charge you a penalty fee if you pay the loan off early.
- VA may be able to provide you some assistance if you run into difficulty making payments.