VA Home Loan Program offers a no down-payment loan for qualified Veterans.
A VA-guaranteed home loan is a loan made by a private lender (such as a mortgage broker or banker) to a qualified Veteran (or surviving spouse) for the purpose of purchasing or refinancing their primary residence.
VA loans are available for single family homes (1-4 unit), townhomes or condominiums.
Veterans can choose from a 30-year or 15-year Fixed Rate Mortgage, or 5-year Adjustable Rate Mortgage (ARM).
To qualify for a VA home loan the Veteran must have suitable credit, sufficient income, and a valid Certificate of Eligibility.
VA Home Loans are handled entirely by private lenders and mortgage companies and VA rarely gets involved in the loan approval process. VA "stands behind" the loan by guaranteeing a portion of it which enables the lender to provide the Veteran with more favorable terms.
VA Mortgages offer flexible qualifying guidelines
Owner Occupied – 100% financing up to $650,000
Purchase and Refinance loans
Cash out Refinance to 100% of property value
Minimum Credit Score 550
Debt to income ratios to 55%
30 year or 15 year terms
Seller can pay borrowers closing costs
No pre-payment penalty
Non-traditional credit OK
No credit score / No trade line program
Contact Teresa Kahler if you would like to get pre-qualified for a VA Home Loan.
Mortgage Loan Originator
NMLS #229392 Regulated by the division of Real Estate LMB #100009566