VA Loans


VA guaranteed loans are made by lenders and guaranteed by the U.S. Department of Veteran Affairs (VA) to eligible veterans for the purchase of a home. The guaranty means the lender is protected against loss if you fail to repay the loan. In most cases, no down payment is required on a VA guaranteed loan and the borrower usually receives a lower interest rate than is ordinarily available with other loans.

Great advantages of a VA loan include comparable closing costs – and sometimes lower – than other financing types, no private mortgage insurance, no pre-payment penalties, the mortgage can be taken over (or “assumed”) by the buyer when a home is sold, available counseling and assistance to veteran borrowers having financial difficulty or facing default on their loan.

Although mortgage insurance is not required, the VA charges a funding fee to issue a guarantee to a lender against borrower default on a mortgage. The fee may be paid in cash by the buyer or seller, or it may be financed in the loan amount.

A VA loan can be used to buy a home, build a home and even improve a home with energy-saving features such as solar or heating/cooling systems, water heaters, insulation, weather-stripping/ caulking, storm windows/doors or other energy efficient improvements approved by the lender and VA.

Veterans can apply for a VA loan with any mortgage lender that participates in the VA home loan program.

Prequalify for a VA loan

If you’d like to get a quote on an VA loan and/or want to know what other loan programs you may be eligible for, please click here to get started and a member of our Team will contact you within one business day.. It’s that simple! Come on, Call The Money Man, and let us show you what makes us different.


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