What is a VA Loan?

VA loans are mortgage loans for veterans or active duty personnel in the Army, Navy, Air Force, Marines, Reserves, or National Guard.

What Do I Need to Qualify?

● Unlike most loan programs, credit score, bankruptcy, or foreclosure won’t determine if you qualify for a loan. If you have been financially unstable, but have maintained on-time payments recently, you may still qualify.

● Unlike most conventional loans, VA mortgage loans don’t require a money down payment when you take it out.

● VA loans may be assumable. As long as the assuming loaner has VA eligibility, the existing loan can be transferred. 

● You must have proof of prior service or active duty in any of the previously stated military branches.

● The candidate must not have been dishonorably discharged in order to qualify for a VA loan. 

What are the benefits of a VA Loan?

Homeownership can be difficult to accomplish for veterans or families of veterans who are struggling with stable income. Many do not have the means of obtaining a conventional loan, which is why VA loans are a good solution.

Most VA loans don’t require money down, which can save homeowners a substantial amount of money. The Interest rates are also much lower than that of a conventional loan with the option of refinancing as well.