VA Loans

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 fairly similar to other types of mortgage loans. Main Advantages of VA loans:

  • No down payment required as long as the sales price does not exceed the appraised value
  • Closing costs may be paid by the seller
  • 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 and their surviving spouses are exempt from paying funding fees

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