VA Home Loans

The VA Loan provides veterans with a federally guaranteed home loan which requires no down payment. This program was designed to provide housing and assistance for veterans and their families.

The Veterans Administration provides insurance to lenders in the case that you default on a loan. Because the mortgage is guaranteed, lenders will offer a lower interest rate and terms than a conventional home loan. VA home loans are available in all 50 states. A VA loan may also have reduced closing costs and no prepayment penalties.

Additionally there are services that may be offered to veterans in danger of defaulting on their loans. VA home loans are available to military personal that have either served 181 days during peacetime, 90 days during war, or a spouse of serviceman either killed or missing in action.

VA Home Purchase Loans are available for Primary residences only. It is possible for a Veteran to hold more than one VA loan at any given time, but it depends on the amount financed, the location of each property, and the amount of VA Entitlement that the borrower has remaining.

The VA Home Loan can be used for both new construction (one time close) and for renovation/rehab financing. Ask one of our team members for more information regarding these programs.