VA Loans

NEWS – loan limits removed – as of January 2020, the VA loan limit is no longer tied to the standard area conforming limits.

VA home loans are mortgage loans guaranteed by the Veterans Administration provided to veterans, active service members, and eligible surviving spouses. Aside from the veteran’s certificate of eligibility and the VA-assigned appraisal, the application process is similar to other types of mortgage loans. Advantages of VA loans:

  • No down payment is required
  • No PMI (private mortgage insurance)
  • VA interest rate is frequently lower than ordinarily available rates
  • Qualification standards are more relaxed
  • VA loans can be refinanced up to 90% of the home value
  • VA funding fees may be rolled into the loan amount
  • Disabled veterans, their surviving spouses and winners of the Purple Heart are exempt from paying the funding fees

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