You Served Us, We’d Love to Serve You with Your VA Loan
In 2020, the U.S. Department of Veterans Affairs (VA) loan program had a record year, guaranteeing more than 1.2 million home loans for active duty military, veterans, and eligible surviving spouses.
Since the program’s inception in 1944, the VA has backed more than 25 million home loans, helping our nation’s protectors achieve their dreams of homeownership.
Our military members and veterans have worked hard to earn their VA loan benefit and they are some of our most treasured clients.
If you’re an active duty military servicemember, veteran, or an eligible surviving spouse – we’d love to help you purchase your dream home with a VA loan. We’re specialists in this program, we know the ins and outs, and we can guide you through the process.
Read on to learn more about VA loans and what’s required to qualify for using them with new home purchases and refinances.
Benefits of Using a VA Loan
Some borrowers come to us and think the only true benefit of the VA loan is that you don’t have to have a down payment. There are so many more!
In addition to in most cases not requiring a down payment, VA loans have these potential benefits:
- Private Mortgage Insurance (PMI) is not required). Conventional loans require a 20% down payment to avoid PMI
- Credit score requirements may be lower than what’s needed for other loan programs
- Interest rates are very competitive
- VA loan cash-out refinances allow you to access up to 100% of your home’s equity for help with consolidating debt, making home improvements, and other life expenses
What’s Needed for VA Loan Eligibility
Active duty military members, retired veterans, honorably discharged veterans, reservists, National Guard members, and surviving military spouses are eligible to apply for VA loans.
The application process requires that you produce a copy of your Certificate of Eligibility. This is a document issued by the VA that verifies that you meet VA loan requirements. We’re happy to assist you in applying for your certificatet from the VA as part of the loan process.
You Can Refinance with a VA Loan
VA Loans don’t only cater to first-time homebuyers, you can also refinance your home with a VA loan! In fact, any type of mortgage can be refinanced into a VA loan, provided that you’re eligible for one.
Our clients who refinance their homes using VA loans :
- May be able to lock in lower interest rates
- Pay lower closing costs
- Adjust their loan terms and repayment schedule
- Access cash from home equity to use for home improvements, education, healthcare, and other life expenses
Ready to Use Your VA Loan Benefit?
If you’re a military member or veteran, we’re so grateful for your selfless service. We can’t think of a better way to thank you than by helping you achieve your dream of affordable homeownership through a VA loan or refinance! Your first step is to contact your local loan officer and get pre-qualified. We’ll take it from there and help guide you throughout the process, from application to the happy closing table.