Veterans Affairs (VA) Loan
Big Home Savings for Your Service
Are you a veteran, an active-duty military member, or a military spouse looking to purchase a home? A VA loan could be the answer to your financial needs. VA loans are backed by the Department of Veterans Affairs, and offer veterans and active duty military members a variety of benefits.
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With a VA loan, you can get a loan for up to 100% of the purchase price of the home and avoid paying private mortgage insurance (PMI). You can also get a competitive interest rate, regardless of your credit score.
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Additionally, VA loans are more lenient when it comes to income and debt-to-income ratio than other loan types. Veterans and active duty military members may also be able to refinance their existing loan with a VA loan, which can lower their monthly payments, or take out cash.
Benefits
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Fast closings – 20 days or less, on average
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No appraisal needed
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No income or asset verification required
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No out-of-pocket money at closing
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Reduced or waived funding-fee options
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Mortgage-only credit report pull