- 580 Min FICO on Purchase/Rate-Term VA Loans
- Great Purchase Programs, 100% LTV Home Loan
- VA IRRRL’s (Streamlines) up to 125% CLTV subordinate financing, 580 Min FICO
- 90% Cash-Out refinance 580 FICO
- VA IRRRL Min FICO 550
- DTI per AUS, we follow DU and LP
- Manual underwrites allowed
- W2 only allowed
- High Balance Loan Amounts Available
- Property Type: 1-4 Units, Primary Residence
VA Loans: A Powerful Tool for Veterans to Achieve Homeownership A Smart Path to Homeownership for America's Heroes
VA loans are a fantastic mortgage option for veterans, active-duty service members, and eligible surviving spouses. Backed by the Department of Veterans Affairs (VA), these loans offer numerous benefits that can make buying a home more accessible and affordable.
Here are just a few reasons why VA loans are great:
No Down Payment Required: This is perhaps the most significant advantage of VA loans. Unlike traditional mortgages, which typically require a 20% down payment, VA loans allow you to purchase a home with zero down. This can be a game-changer for veterans who may not have saved up a large amount of money for a down payment.
Competitive Interest Rates: VA loans typically come with lower interest rates than conventional loans. This is because the VA guarantees a portion of the loan, which reduces the risk for lenders and allows them to offer more favorable terms.
No Private Mortgage Insurance (PMI) Required: PMI is a type of insurance that protects lenders if you default on your loan. However, VA loans do not require PMI, which can save you hundreds of dollars per month.
Flexible Credit Requirements: VA lenders are generally more flexible with credit requirements than conventional lenders. This is because they take into account your military service when evaluating your creditworthiness.
Multiple Loan Options: VA loans can be used to purchase a variety of properties, including single-family homes, condominiums, townhomes, and manufactured homes. You can also use a VA loan to refinance your existing mortgage.
Lifetime Benefit: Your VA loan entitlement is a lifetime benefit that you can use over and over again. This means you can purchase multiple homes throughout your life using a VA loan.
In addition to these benefits, VA loans also offer several other advantages, such as reduced closing costs and the ability to assume an existing VA loan.
If you are a veteran, active-duty service member, or eligible surviving spouse, a VA loan can be a powerful tool to help you achieve homeownership. With its many benefits, a VA loan can make buying a home more affordable and less stressful. I'm a veteran. I'm happy to help.
