A VA loan is perhaps the most powerful and flexible lending option on the market today. Rather than issue loans, the VA instead pledges to repay about a quarter of every loan it guarantees in the unlikely event the borrower defaults. That guarantee gives VA-approved lenders greater protection when lending to military borrowers and often leads to highly competitive rates and terms for qualified veterans.
Benefits of VA Loans
The most significant benefit of a VA loan is the borrower's ability to purchase with no money down. Apart from the government's USDA's Rural Development home loan and Fannie Mae's Home Path, it's all but impossible to find a lending option today that provides borrowers with 100 percent financing.
VA loans also come with less stringent underwriting standards and requirements than conventional loans. In fact, about 80 percent of VA borrowers could not have qualified for a conventional loan. These loans also come with no private mortgage insurance (PMI), a monthly expense that conventional borrowers are required to pay unless they put down at least 20 percent of the loan amount.
VA loans offer a few other bells and whistles:
Competitive interest rates that are routinely lower than conventional rates
No prepayment penalties
Higher allowable debt-to-income ratios than for many other loans
Streamlined refinancing loans that require no additional underwriting
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Our Happy Clients
"Working with Paul and staff was a pleasure. We had a problem free, smooth experience. I would highly recommend using them to anyone that would need a lender!"
Paul NMLS #27543
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Diane NMLS #1541451
Hall Financial NMLS #1467435
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Chris NMLS #1123930
"Doug worked tirelessly with me for almost 2 months to get me the best possible mortgage option. I had started working with four (4) mortgage companies and he was the only one that listened to what I was looking for and obtained in for me. He even answered his phone while teaching his child to ski and took care of my questions. I would recommend him 200%!!!!"
Doug NMLS #32032
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Scott NMLS #938847
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Paul NMLS #27543
"Chris was a pleasure to work with. He was available 24/7 for any questions I had. He educated myself and my wife on the process until we felt 100 percent comfortable. He even took time out on his vacation to answer questions and help the process move along. Anyone looking for a loan better work with Chris!"
Chris NMLS #1123930