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VA LOANS

VA PURCHASE LOAN BENEFITS

One of the primary benefits of a VA loan is that if you qualify, it's 100% financing without requiring mortgage insurance. This could mean hundreds of dollars of savings each year.

There are no lender fees* when you get a VA loan from Movement Mortgage.

Some states even offer property tax reductions to military borrowers (please consult a tax professional).

VA LOANS FOR MILITARY AND VETERANS

If you’re active duty military, a veteran or an eligible family member of a military veteran, you may qualify for a Veterans Affairs loan.  The VA Mortgage is a government-based product offering 100% financing of the reasonable value of the property, with less restrictive qualifying terms than conventional programs.

VA loans require a VA Funding Fee that may be financed into the loan or paid out of pocket at closing.

VA LOAN SPECIFICATIONS

(1-4 unit, primary residence only)

30-year Minimum FICO

580 minimum FICO and maximum loan amount of $453,100; or
620 minimum FICO and maximum loan amount of $1,500,000

15-year Minimum FICO

640 minimum FICO and maximum loan amount of $1,500,000

Note: For loan amounts greater than > $453,100 the maximum loan amount must include the funding fee when financed (applies to both 15 and 30 year fixed)

Want to Refinance a VA Loan?  Learn more here.

HOUSING GRANTS FOR SERVICE-RELATED DISABILITIES

Those eligible for an adapted housing grant through Veterans Affairs can get help with a service-connected disability purchase, build an adapted home or adapt an existing home to support their disability.

If you’re a military veteran looking to buy, refinance a VA loan or want to learn more about VA homeownership benefits, let us know today.

Disclaimers: *In addition to the eligibility criteria outlined in the presentation that all eligible Veterans and Reservists must meet all VA income, asset, and property requirements.For loan amounts exceeding $453,100, the amount of the VA entitlement or the entitlement plus the down payment must equal 25% of the property’s reasonable value.

If you’re a military veteran looking to buy, refinance a VA loan or want to learn more about VA homeownership benefits, let us know today.