VA HOME LOAN MORTGAGES FOR VETERANS
You’ve dedicated your time to serving your country, and now it’s your country’s turn to express its gratitude with exclusive financing options designed specifically for veterans. VA loans stand as a testament to the recognition of veterans’ service and sacrifices on behalf of our nation.
What Are VA Loans?
VA loans represent a unique category of home mortgages exclusively available to active military members and veterans. These loans are backed by the U.S. Department of Veterans Affairs and are extended by approved lenders. VA loans empower eligible veterans and active military personnel to transform their homeownership aspirations into reality, also offering money-saving refinancing opportunities for existing VA homeowners.
Benefits of VA Loans
VA loans are meticulously crafted to provide sustained home financing solutions to qualified veterans and, in certain cases, their surviving unmarried spouses. In many instances, the interest rates offered through VA loans surpass those of conventional loans, making homeownership more accessible.
The advantages of VA loans over other mortgage types include:
- No penalty fees for early loan repayment
- No mandatory private mortgage insurance
- Accessibility for applicants with less than perfect credit
- Potential assistance from VA if mortgage payment challenges arise
- Eligibility Criteria for VA Loans
VA loans extend their benefits to a specific group of individuals, including:
- Active-duty military personnel
- Reservists and members of the National Guard
- Certain surviving spouses of veterans
- While past or present military service is a primary criterion, other standard home loan factors such as credit score and income also contribute to eligibility.
Certificate of Eligibility (COE)
To apply for a VA-sponsored loan, securing a Certificate of Eligibility (COE) is essential. The COE serves as verification to lenders that you meet the necessary requirements for a VA-sponsored loan. The application process for a COE is straightforward and can be completed online, via mail, or through a lender.
Active duty military personnel and current National Guard members or Reservists without prior Federal active service require a current statement of service for their COE.
Veterans and former or current National Guard members and Reservists activated for Federal active service will need to provide a DD Form 214 confirming their past service.
Get Pre-Qualified For A VA Loan
Let one of our experienced VA financing professionals help you navigate the VA loan process.