Unlike conventional loans, VA loans do not require independent mortgage insurance. Purchase Loans help you purchase a home at a competitive interest rate often without requiring a down payment or private mortgage insurance. Cash Out Refinance loans allow you to take cash out of your home equity to take care of concerns like paying off debt, funding school, or making home improvements.
90% of VA loans are 0 down payment loans. A VA mortgage can allow you to purchase a home with very little initial out of pocket expenses. Up to 100% of the property value can be financed, and so can the VA funding fee. Closing costs are permitted to be covered by gift funds or paid by the seller.
You don't need to have a perfect credit score to qualify for a VA loan. Those with less than perfect credit can sometimes qualify for a VA home loan even if they would not qualify for most conventional loans. Often times a 580 score is all that is needed to get started. The home must be for your own personal occupancy.
Generally, the follow criteria qualify for eligibility. For a complete list of eligibility requirements please visit:
Growing up in a military family, I learned the values of selfless service, honor, respect and loyalty.
I carry those values into my job and passion today: Helping fellow military men and women get into homes.
My first mortgage was a VA mortgage and since retiring from the Army in ’91, I’ve helped put thousands of veterans in homes through the VA Mortgage Program.
Let our veteran help you today!
Thanks for your service, Jon!
-The team at 1st State Veteran Mortgage