VA Home Loans

Buying a home is a big decision. If you are an active-duty service member or a veteran, the government has programs to make that process more accessible and affordable as a thank you for your service.

A VA Home Loan is backed by the Department of Veterans Affairs. Because the VA guarantees the loan, private lenders can offer qualifying military personnel and their spouses highly favorable terms. Since 1944, this program has helped over 23 million service members and their families purchase or refinance homes.

The Biggest Advantages of a VA Loan:

• Zero Down Payment: You can finance up to 100% of the purchase price.
• No PMI: You are not required to pay private mortgage insurance, even with no down payment.
• Competitive Rates: Interest rates are typically lower than conventional loans.
• No Prepayment Penalty: Pay off your loan early without extra fees.
• Closing Costs: Can often be rolled into the loan.

Types of VA Loans:

• VA-Backed Purchase Loan: The standard loan for buying a home with zero down and no PMI.
• Native American Direct Loan (NADL): For eligible Native American veterans buying, building, or improving a home on Federal Trust land.
• Cash-Out Refinance: Replace your current mortgage and pull out home equity as cash to pay off debt or make improvements.
• Interest Rate Reduction Refinance Loan (IRRRL): A streamlined way to refinance an existing VA loan into a lower interest rate, often without needing an appraisal or income verification. To be eligible, your current VA loan must have been open for at least 210 days, and you cannot have been 30 days past due on any mortgage payment in the last 12 months.

Are You Eligible?

You will need a Certificate of Eligibility (COE) from the VA. Generally, you qualify if you have served 90 consecutive days of active service during wartime, 181 days during peacetime, or 6 years in the National Guard or Reserves (or are an eligible surviving spouse).

If you think you qualify, reach out. We will help you pull your COE and guide you through the steps to apply.