VA Loans
A VA (Department of Veterans Affairs) loan is a mortgage loan program specifically designed to help active-duty service members, veterans, and eligible surviving spouses achieve homeownership. These loans are backed by the VA and offered by private lenders, providing several advantages for qualifying military personnel and their families.
VA Loans Help Veterans and Active-Duty Servicemembers
Achieve Homeownership Goals
Featuring: Army Veteran and Mortgage Loan Officer Phil Zehr
Key Features
VA loans are a valuable benefit for those who have served in the military, offering favorable terms and making homeownership more attainable. However, eligible individuals need to understand the specific eligibility criteria, terms, and benefits associated with VA loans before applying.
No Down Payment
(in most cases)
One of the significant benefits of VA loans is that eligible borrowers can secure a mortgage without a down payment. This feature makes homeownership more accessible for qualifying veterans and service members.
No Private Mortgage Insurance (PMI)
Unlike conventional loans that often require PMI if the down payment is less than 20%, VA loans do not mandate private mortgage insurance. This can result in cost savings for borrowers.
Competitive
Interest Rates
VA loans typically offer competitive interest rates compared to conventional loans, making them an attractive option for eligible borrowers.
Easier Qualification
VA loans tend to have more flexible credit requirements compared to conventional loans, enabling veterans and service members with less-than-perfect credit to qualify.
Limits on Closing Costs
The VA limits certain closing costs that borrowers can be charged, which can help reduce the upfront expenses associated with buying a home.
Reuse of Entitlement
Eligible individuals who have paid off a previous VA loan can use their entitlement again for a new VA loan, provided they meet the requirements.
VA Funding Fee
VA loans often require a funding fee, which can vary based on factors such as military status, down payment amount, and whether it's a first-time or subsequent use of the benefit. This fee helps sustain the VA loan program.
We started with a loan company, realtor and broker that were assigned to us through Veterans United and it was less than personable and didn’t provide great confidence. Melanie took over and had answers to us day one. She knows her stuff and is confident in the information she is providing. Our purchase process defiantly had some unique situations that could have had the whole sale fall through but Melanie worked her magic along with our Realtor to make it all happen so we could close early.
Jared P.
Melanie and her team went above and beyond to understand our situation and offer solutions to help give us the best chance to get approved for a home loan. We are so grateful she was able to work with us and make our dreams come true!
Clemente V.
Personal, professional, friendly, responsive service. Melanie and her team made my first home buying experience painless and joyful. I am deeply grateful to Melanie and her team for making my dream of home ownership come true!!!
Scott G.
Melanie and her team go above what is needed. Very communicative and prompt. They know is personal and what are needs and wants are. When my wife was going through breast cancer surgery, they sent a wonderful care package to let us know that they were thinking of her. To notch professionally and personally.
Jefferey C.