The VA Home Loan program allows veterans with qualifying income and credit to purchase a primary residence without putting any money down towards the sale price of the home. We're here to make your home buying journey a great one.

VA LOAN RATES

National Averages for October 25, 2014

30 YEAR FIXED

3.375% Rate
3.474% APR

15 YEAR FIXED

2.75% Rate
2.93% APR
* disclosures

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- Veteran Documents -

Certificate of Eligibility
and DD-214

GET A VA HOME LOAN

VA Loans

A VA Mortgage for the Home You Buy

Buying a home is one of the biggest and most important decisions you will ever make. We understand that and want to make the process as easy as possible. Whether you are a first-time homebuyer or are experienced with the process, we're here to make your home buying journey a great one.

Since 1944, when home loan guarantees were part of the original GI Bill, the VA has guaranteed over One Trillion dollars. On October 26, 2012, the Department of Veterans Affairs announced it has guaranteed 20 million home loans since its home loan program was established.

The VA Home Loan program allows veterans with qualifying income and credit to purchase a primary residence without putting any money down towards the sale price of the home, as long as that sale price does not exceed the appraised value of the home. Veterans do need money towards closing costs as well as earnest money, which the seller generally requires when a sales contract is signed. Closing costs may be paid by the seller, which can be negotiated when the sale price of the home is set.

Just Follow These Simple Steps

  • Use the Debt to Income Ratios to figure out how much you can afford to pay for a home.
  • Get pre-approved on your home loan. Knowing that your mortgage loan and credit report are already approved will let you look for your new home with confidence. Also, a pre-approval lets the seller know that your offer is solid and that you're a serious buyer.

If 100% financing isn't enough, there are even more benefits to applying for your VA home loans for veterans who are ready to purchase a home:

  • VA home loans are assumable, provided the person assuming the loan is qualified.
  • Veterans' closing costs are limited by VA, making sure you won't be asked to pay more than a fair price for closing costs.
  • You have the VA behind you offering additional assistance if you ever find you are having problems making your home loan payments, at any time in the future.
  • Veterans can prepay their VA Home Loans without a penalty.

VA LOAN ARTICLES

Read About Veteran Mortgage News, Updates, and Guidelines
Appraisals and the Condition of the Roof

VA loan minimum property requirements do include guidance about the condition of the roof in general terms. However, if you’re looking for instructions to the lender about what it takes for a roof to pass the VA appraisal, you may be disappointed.

When Can I Sell the Condo I Purchased With a VA Loan?

We get many questions about buying and selling properties purchased with a VA home loan. Buyers ask about appraisals, closing costs, and the VA loan funding fee, and sellers want to know how VA loan rules might affect the transaction.

VA Loans for Non Residential Use

Chapter Three of the VA Lender's Handbook addresses this issue of non-residential use of a VA loan both in terms of what is specifically allowed AND what is not specifically allowed. VA mortgage loans are specifically meant for residences.

VA Loan Rules and Second Mortgage Loans

One common misconception about VA home loans is that the program is aimed only at first time home buyers. It may be possible to get a second mortgage on a home purchased with a VA home loa

VA Loan and Lender Rules Regarding Missed Payments

VA lenders must follow VA minimum standards for loan approval, but there is often a higher standard with the lender, and those higher standards are not against VA loan program rules.

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