VA loans are to help veterans and active duty get financing with favorable loan terms.
A VA Loan is Designed to offer long-term financing to veterans. VA mortgage loans are issued by federally qualified lenders and are guaranteed by the U.S. Veterans Administration. The VA determines eligibility and issues a certificate to qualifying applicants to submit to their mortgage lender of choice. It is generally easier to qualify for a VA loan than conventional loans.
VA loans features and benefits
• 100% financing – No Down Payment
• No Monthly Mortgage Insurance
• Flexible credit standards
• No prepayment penalty and is assumable
• Cash out allowed to 100% of home value
• Fixed and Adjustable Rates
• Owner Occupied only
• Single Family Homes Only
• Loan amount up to $1,000,000
For more information on VA loans, contact us today!