VA loans helps Service members, Veterans, and eligible surviving spouses become homeowners often with Zero down payment and NO mortgage insurance.  The VA pledges to repay about a quarter of every loan it guarantees in the unlikely event the borrower defaults. That guarantee give VA approved lenders greater protection when lending to Military borrowers resulting in a much lower interest rate. In addition, they have less stringent underwriting standards and requirements than a conventional mortgage. In fact, 3 out of 4 VA Borrowers could not have qualified for a conventional loan making VA financing perhaps the most powerful lending option on the market today! 

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Types of VA loans: 

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Purchase Loans help you purchase a home at a competitive interest rate often without           requiring a down payment or private mortgage insurance.

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Cash Out Refinance loans allow you to take cash out of your home equity to take care of concerns like paying off debt, funding school, or making home improvements. 

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Interest Rate Reduction Refinance Loan (IRRRL): also called the Streamline Refinance Loan can help you obtain a lower interest rate by refinancing your existing VA loan with requiring a new appraisal, income documentation etc.

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Key Benefits of a VA Loan:

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• No Down Payment required

• Lower Mortgage rates 

• No Mortgage insurance

• Allows higher debt-to-income ratios than for many other loans

• Streamlined refinancing loans that require no additional underwriting

• No Prepayment Penalties

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