Veteran Loan Specialists!

An estimated 29 million veterans in the United States are eligible for VA financing. Many of those who qualify, however, are not even aware of the benefits afforded by the VA. VA home loans not only can save money for those who qualify, but they can also be an easy way to get a loan that may have otherwise proven difficult to obtain.

VA Purchase Are you eligible for a VA Loan? Let us help you get the best rate possible. Apply Now  |  More Information

VA Refinance Veterans use a VA Loan with a better interest rate to pay off your current Home Loan. Apply Now  |  More Information

Who Qualifies for a VA Loan?

There are several different standards for qualification of a VA loan. If you are not sure that you qualify, you should speak with a mortgage broker or VA loan professional or read more about VA loan qualifying here. Two very important steps towards getting a VA loan is having a copy of your DD-214 and filling out a Certificate of Eligibility. We can obtain the Certificate of Eligibility if you do not have one. If you do not have a copy of your DD-214, you can get a request form here.

If you already have your DD-214, you can request for a Certificate of Eligibility with the following link (GET CERTIFICATE OF ELIGIBILITY)

National Guard members and Selected Reserve members may also qualify. Check your eligibility through a qualified VA loan specialist if you have any questions.

What Can I Use a VA Loan For?

You can use your VA loan to purchase a house, condominium, or townhouse.  Refinancing of a mortgage can be done with a VA loan, as well as improving your home with energy-related features.

Why Would I Want A VA Loan?

There are several reasons why a VA loan may be preferable to a standard loan. Most importantly, if you qualify, you may obtain a VA loan even if other loans were unobtainable. There also may be no down payment required for a VA loan, depending on the lender. VA loans also tend to have lower interest rates than conventional loans. There are no mortgage insurance premiums on VA loans, and they do allow for an assumable mortgage. Closing costs for purchasing a home can be lower than other forms of financing, and prepaying your mortgage holds no penalty, as in some other forms of loans. In addition, VA assistance is available to those who qualify if temporary financial difficulty occurs.

How Much Money Can I Borrow?

The VA does not put a cap on how much money you can borrow. This determination is up to the lender, typically a bank, savings and loans, or mortgage companies. The basic entitlement of a VA loan is $36,000, but some loans are eligible for $60,000 if they are over $144,000. A lender will often loan up to 4 times the amount of the basic entitlement without any requirement of a down payment.

Limit increase! Although there is no set maximum limit the VA allows you to borrow with your entitlement, most lenders and financial institutions will not approve a total of over $359,650. Lenders typically sell VA loans in a secondary market, where the cap for a loan limit is $359,650.

Veterans who have already taken out a VA house loan in the past may still be eligible for remaining entitlement for any unused previous balance. Because entitlement amounts have increased over time, this means that many people who took out VA loans in the past may be eligible for more money now than they were entitled to before. Fill out our form or call us today to find out if you qualify.

VA Loan History

The VA home loan guaranty program was formed in 1944 to aid veterans returning from war. The overall objective of VA home loan benefits was to minimize possible economic and sociological problems experienced by post war readjustments of the men and women serving in the United States Armed Forces. This basically means that veterans' are given a leg up through the Veteran's Administration towards purchasing or refinancing a home in gratitude for the sacrifices they made by serving our country.