A US Department of Veteran’s Affairs (VA) Loan allows qualified veterans to buy a house costing up to $417,000 without a down payment. Chief among those benefits is an opportunity to take part in the VA Loan program – a mortgage option that provides the opportunity for qualifying veterans to purchase a primary residence without putting any money down towards the sale price of the home. Additionally, the qualification guidelines for VA Loans are more flexible than for either FHA or Conventional Loans.
For qualified veterans, this can be a very attractive option.
Why Choose a VA Loan
No Down Payment
Minimum FICO as low as 580
No Private Mortgage Insurance
Competitive Interest Rates
Easier to Qualify
No Income Restrictions
$417,000 max loan amount
Are you eligible for a VA home loan?
While the VA Loan is designed specifically for those who served, there are a handful of requirements.
In order to qualify for a VA Loan there are specific service conditions each borrower must meet.
The good news is that the qualification requirements for VA Loans are much more flexible than either FHA or Conventional Loans.
You may be eligible for a VA Home Loan if you meet one or more of the following conditions:
You have served 90 consecutive days of service during wartime, OR
You have served 181 days of services during peacetime, OR
You have more than 6 years of service in the National Guard or Reserves, OR
You are the spouse of a service member who died in the line of duty or as a result of a service-related disability.
