What is a VA Loan?
A VA loan is a mortgage loan in the United States guaranteed by the U.S. Department of Veterans Affairs (VA). The loan may be issued by qualified lenders. The VA loan was designed to offer long-term financing to eligible American veterans or their surviving spouses (provided they do not remarry).
VA Loan Eligibility Requirements
The length of your service or service commitment and/or duty status may determine your eligibility for specific home loan benefits.
|Eligible Mortgage Products||
|Maximum LTV Ratios||
Purchase Loans and Cash-Out Refinance: VA-guaranteed loans are available for homes for your own personal occupancy. To be eligible, you must have a good credit score, sufficient income, a valid Certificate of Eligibility (COE), and meet certain service requirements. Learn More
Interest Rate Reduction Refinance Loan (IRRRL): The IRRRL is a “VA to VA” loan, meaning it can only be applied to refinance an existing VA loan. An IRRRL can be done only if you have already used your eligibility for a VA loan on the property you intend to refinance. Learn More
Native American Direct Loan (NADL) Program: The NADL program helps Native American Veterans purchase, construct, improve, or re-finance a home on Native American trust lands. Your tribal organization must participate in the VA direct loan program. You must have a valid Certificate of Eligibility (COE) and meet certain service requirements. Learn More
Adapted Housing Grants: VA helps Veterans with certain total and permanent disabilities related to your military service obtain suitable housing with either a Specially Adapted Housing (SAH) or Special Housing Adaptation (SHA) grant. Learn More
How do I apply for a VA Loan?
How Do I Apply for a Jumbo Loan?
We need a lot of information on your loan application. You will need to provide us with a wide range of details including:
- All addresses where you have lived in the previous two years.
- Your employer’s name and addresses for the last two years, plus the amount of your Gross Monthly Salary.
- W2s for the past two years.
- Income tax forms submitted for the last two years.
Gather all of this information to begin your application so you will have everything handy to complete your loan forms at one time and give us a call!