- Buy a home, either existing or pre-construction, as a principal residence
- Refinance an existing loan
- Equal opportunity for all qualified Veterans to obtain a VA loan
- No down payment (unless the purchase price is more than the reasonable value of the property)
- No mortgage insurance
- One time VA funding fee that can be included in the loan
- Veterans receiving VA disability compensation are exempt from the VA funding fee
- VA limits certain closing cost a Veteran can pay
- Can be assumed by qualified persons
- Minimum property requirements to ensure the property is safe and sanitary
- VA staff dedicated to assisting Veterans who become delinquent on their loan
- Veterans who meet length of service requirements
- Service members on active duty who have served a minimum period
- Certain Reservists and National Guard members
- Certain surviving spouses of deceased Veterans
- No maximum debt ratio: however lender must provide compensating factors if the debt ration is over 41%
- No maximum loan amount, however, VA does limit its guaranty, Veterans can borrow up to $417,000 without a down payment in most of the country. Find out the limit in any county
orstateby visiting www.benifits.va.gov/homeloans/
- Published residual income guidelines to ensure Veterans have the capacity to repay their obligations while accounting for all living expenses.
- No minimum credit score requirement: instead VA requires a lender to review the entire loan profile to make a lending decision.
- Complete VA credit guidelines are published at www.benefits.va.gov/warms/pam26
- 1st Signature
Lending,LLCwill help you. We will need a Certificate of Eligibility (COE) to prove your entitlement. Most Veterans can obtain the COE online through ebenefits(www.ebenefits.va.gov).
- Note; The VA appraisal is not intended to be an "inspection" of the property
- A Veteran should get expert advice from a qualified residential inspection service.
- VA loan technicians are trained to help Veteran borrowers retain their homes and avoid foreclosure. Call 1-877-827-3702 to speak to a VA loan Technician.
1st signature Lending