VA Loans

The VA loan was designed to offer long-term financing to eligible American veterans or their surviving spouses (provided they do not remarry).

A VA loan is a mortgage loan that is guaranteed by the U.S. Department of Veterans Affairs (VA). This loan program is specifically designed to help veterans and active duty military members become homeowners. Here are some of the key benefits of VA loans:

  1. No down payment required – One of the biggest advantages of VA loans is that they do not require a down payment. This means that qualified borrowers can purchase a home with 100% financing.
  2. No mortgage insurance required – Unlike other types of loans that require borrowers to pay for private mortgage insurance (PMI) when they put down less than 20% of the purchase price, VA loans do not require PMI. This can result in significant savings over the life of the loan.
  3. Lower interest rates – VA loans typically have lower interest rates than other types of loans, which can help borrowers save money over the life of the loan.
  4. Flexible credit requirements – VA loans have more flexible credit requirements than some other types of loans. This can make it easier for veterans and active duty military members to qualify for a loan, even if they have less-than-perfect credit.
  5. Refinancing options – VA loans also offer refinancing options, which can help homeowners save money on their monthly mortgage payments.

In order to qualify for a VA loan, borrowers must meet certain eligibility requirements. To be eligible, a borrower must be a veteran, active duty service member, or surviving spouse of a veteran (who has not remarried). The borrower must also meet certain service requirements, such as serving at least 90 consecutive days during wartime or 181 consecutive days during peacetime.

If you are a veteran or active duty military member and are interested in purchasing or refinancing a home, a VA loan may be the right option for you. Our team of experienced mortgage brokers can help you navigate the VA loan process and find the best loan options for your specific needs. Click here to contact us or call (561) 717-6826 for a quote.

Additional restrictions may apply. Please inquire. All loans are subject to credit approval.