VA Loans
VA Loans: Everything You Need to Know
What is a VA home loan?
This type of loan is usually offered to those serving in the military and veterans who have retired from the force. There are usually much cheaper and do not require the client to make any down payment.no mortgage insurance is required for this loan.
What are the unique benefits?
Veteran clients get to enjoy a $0 money down! The monthly charges of private mortgage insurance are also written off. They also have low closing charges high competitive interest rates and do not attract any penalties whenever they are settled earlier than expected.
What are the main points of qualification?
Borrowers who have a low credit score stand a higher chance of qualifying for this loan. They usually consider credit scores as little as 580. You will also get to enjoy a higher loan maximum amount of $417,000 when compared to the FHA loan. Your debt to income ratio and VA residual incomes are also considered when it comes to these loans.
*Loan terms are subject to change. This information is meant for educational purposes and is not a commitment to lend. To qualify for a conventional mortgage loan, please reach out to our licensed loan officers, or apply online.
