About VA Home Loans

VA home loans are designed specifically to help veterans finance property and are guaranteed by the Department of Veterans Affairs. Despite what many veterans may hear, VA home loans are not more difficult to obtain nor are there more hurdles than with conventional loans. VA home mortgage programs do have some very specific requirements which Cheri can help guide you through. There are many benefits to VA home loans and Cheri will make sure you find a great deal and will walk you through the process from application to funding.

Benefits and some of VA Home Mortgage Guidelines:

• $700,000 standard VA home loan limit (exceptions maybe made for VA home mortgages between $700,001 - $1,500,000).
• No money down VA home loan options.
• Gift funds may be used for closing costs & seller contributions are allowable.
• The majority of VA home loans are assumable to qualified buyers making selling homes in the future attractive to buyers.
• Minimal and less than perfect credit may exist for certain VA home loans.
• No mortgage insurance on VA home mortgage loans.
• Security of 15 & 30 year fixed rate mortgages.
• No penalties for paying off a VA home mortgage loan early.
• VA home loan funding fee may be financed into the loan amount.

Who is Eligible for a VA Home Loan?

• Active duty personnel or veterans with previous qualifying experience.
• Members of the National Guard, Coast Guard, and qualified reservists.
• VA home loans may also be available for honorably discharged personnel, public health service officers, and cadets & midshipmen in the Army, Navy, and Coast Guard academy.
• Also, unmarried surviving spouses of veterans who died in service or who are missing in action as a result of service related activity may qualify for a VA home mortgage.
• VA home loans may also be obtained by current US citizens who served with our allies during World War II

A VA home mortgage requires a Certificate of Eligibility from the Department of Veterans affairs. Most CoEs can be pulled online within minutes. Give Cheri a call today and she can help guide you through each step of the VA home loan process.