VA Home Loans
VA Home Loans are a popular VA benefit of Military Service. VA Loans require ZERO down payment up to your county VA Loan Limit, and require NO Monthly Mortgage Insurance. VA Loans are also forgiving in regards to Credit Scores, Loans after Bankruptcy, Loans after Foreclosure and Loans after Short Sale.
VA Guaranteed Home Loans are made by private lenders (such as VanDyk Mortgage). The VA, i.e. the U.S. Department of Veteran Affairs guarantees VA loans for eligible Veterans to purchase a Single Family Home, Condominium, or 2-4 unit multi-family home. The VA guaranty protects the Lender against loss if the Veteran fails to repay the loan due to hardship. No down payment is required on many VA guaranteed home loans and the Veteran borrower usually receives a competitive interest rate compared with conventional loans.
Here are some of the benefits with VA loans for Veterans:
- 100% VA Purchase Loan up to $2m – Nationwide – for Veterans with full VA Entitlement available – Zero Down payment up to $2m
- 100% VA Jumbo Purchase Loan up to $2m – Nationwide – for Veterans with full VA Entitlement available
- VA Loans up to $2m with corresponding down payment for Veterans with partial VA Entitlement available
- Closing costs are typically lower than conventional or FHA Loans
- NO PMI, MIP, or Mortgage Insurance
- No Prepayment Penalties
- Competitive fixed interest rates
- VA loans & VA Jumbo Loans can be used to purchase Condo’s, Single Family Homes, Townhomes, Row Homes, PUD’s, & 2-4 Units
- Fico’s as low as 580
VA Loans After Financial Hardship:
- VA Loans and VA Jumbo Loans available in as little as 2 yrs after Bankruptcy Discharge
- VA Loans and VA Jumbo Loans available in as little as 2 yrs after Foreclosure
- VA Loans and VA Jumbo Loans available in as little as 2 yrs after Short Sale
- We offer VA Loans and VA Jumbo Loans after a Short Sale with no waiting period (if all loan payments made on time prior to Sale, and loan was not a VA Loan)
VA Jumbo Loans
- VA Jumbo Loans allow higher 100% financing for VA Loans – Up to $2m for qualified Veterans with full VA Entitlement available
- VA Jumbo Loans are also known as VA High Balance Loans, VA Super Conforming, and VA Super Jumbo Loans
- You can exceed the county VA loan limits by contributing a down payment (usually smaller than what is required on conventional or FHA Loans) (also a great option for VA Jumbo Refinances)
- More VA Jumbo Loan info here.
- VA Jumbo loans can be used to purchase Condo’s, Single Family Homes, Townhomes, PUD’s, & 2-4 Units
- VA Jumbo Loans OK for Eligible VA Condo’s
- Fico’s as low as 580 up to $2.0M loan amounts
VA IRRRL Streamline Refinance:
- VA IRRRL Streamlines – available to lower your interest rate without income verification
- VA IRRRL Streamline Refinances are available for Non-Owner, Investment, or Rental Homes
- Our VA Jumbo IRRRL Streamline Refinances can exceed your County VA Loan Limit.
VA Loans do not require mortgage insurance; however the VA requires a funding fee to issue a guarantee to a private lender against future VA borrower default on a mortgage. The VA Funding Fee can be Financed into the loan (typical) or paid in cash by the buyer or seller. Veterans with a 10% or higher VA Disability Rating are EXEMPT from the VA Funding Fee – please ask to see if you qualify.
VA loans can be used to buy a Home, refinance your home, consolidate debts, or just lower your interest rate and payment.
VA Loans do require a Certificate of Eligibility from the VA, which must be obtained to qualify for a VA loan. We can assist you in contacting the VA and requesting your Certificate of Eligibility.
Call us to get started on your VA Loan, or for answers to your VA Loan questions. 866-900-2342 Toll Free Direct or get started online here