As a benefit of your service, the Department of Veterans Affairs offers unique resources to help those with military experience purchase a home with a low or zero down payment.

VA loans are available and provide the buyer the chance to finance 100% of the purchase price of the home. This means no down payment is required. It is important to note that buyers will still need to qualify for the loan.

The VA Loan process

A VA loan works the same as most other home purchases, With a buyer making a written offer to purchase a home under specific conditions (price, closing cost assistance, other contingencies), and then going through an approval process with a lender. The key difference with a VA loan is that the Department of Veterans Affairs requires that all homes purchased through this program meet certain habitability requirements. Issues at the home do not necessarily mean that the buyer cannot use the VA loan, just that repairs will need to be made before the home purchase can be completed.

How VA Loans Work

• Purchase your home with as little as 0% down payment.
• 30-, 25-, 20- and 15-year terms are all available with fixed rates.
• Jumbo VA loans are available.
• VA Streamline Refinance with a reduced funding fee and flexible documentation requirements – available for veterans that currently have a VA loan.
• No monthly PMI (Private Mortgage Insurance).
• VA loans are governed by the U.S. Department of Veterans Affairs.
• Pay your mortgage off at any time without pre-payment penalties.

Have questions?  Give us a call! One of our mortgage experts would be happy to answer all of your questions.