VA 100% Loan
Designed to offer long-term financing to American veterans, VA mortgage loans are issued by federally qualified lenders and are guaranteed by the U.S. Veterans Administration. The VA determines eligibility and issues a certificate to qualifying applicants to submit to their mortgage lender of choice. It is generally easier to qualify for a VA loan than conventional loans.
Here’s how it works:
- 100% financing without private mortgage insurance or 20% second mortgage.
- A VA funding fee of 0 to 3.3% (this fee may be financed) of the loan amount is paid to the VA.
- When purchasing a home, veterans may borrow up to 100% of the sales price or reasonable value of the home, whichever is less.
- When refinancing a home, veterans may borrow up to 90% of reasonable value in order to refinance where state law allows.
VA Interest Rate Reduction Loan IRRRL
Veterans who currently own a home secured by a VA mortgage can refinance with this special loan that simplifies the process and reduces the cost of a normal refinance.
- No appraisal required! Refinance even if you have no equity!
- No Mortgage insurance required
- Minimal credit requirements
- Home does not have to be occupied by the Veteran if the Veteran occupied the home before
- Very low interest rates save money or reduce your term or both!
Questions? Please call us at 888-456-9796 or submit the Quick Contact form on the top right side to have a loan specialist contact you today.