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.
(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.
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.