VA Loans

A VA Loan is Designed to offer long-term financing to 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.

Who is eligible for VA loans?

Most veterans and active duty service members are eligible. However, all veterans, active-duty service members and National Guard members must meet certain requirements.

To be eligible, you must have met at least one of the following:

• Have more than six years of service with the National Guard or Reserves
• Served 181 days during peacetime
• Served 90 consecutive days during wartime
• Also, VA loans are available to the surviving spouses of military members who died in the line of duty.

Private mortgage insurance (PMI) or mortgage insurance premiums (MIP) are required for smaller down payments on conventional and FHA loans. But no matter how much you put down on a VA loan, you won’t have additional insurance payments on top of your mortgage payments.

Most VA loans are 100% financing, you will have closing cost, but a seller assist can eat up most of that, max seller assist is

Apply for a VA Loan with a VA Qualified Lender.