About Va Home Loans

Of veterans affairs or any government agency.

About va home loans. You ll still need to have the required credit and income for the loan amount you want to borrow. What is a va home loan. Military reservists and select surviving spouses and can be used to purchase single family homes condominiums multi unit properties manufactured homes and new construction. Not endorsed or sponsored by the dept.

The va home loan was created in 1944 by the united states government to help returning service members purchase homes without needing a down payment or excellent credit. While the va does not lend money for va loans it backs loans made by private lenders banks savings and loans or mortgage companies to veterans active military personnel and military spouses who qualify. Bank offers 15 and 30 year options. A va loan is a mortgage loan in the united states guaranteed by the united states department of veterans affairs.

Since there s less risk for the lender they re more likely to give you the loan under better terms. Veterans united home loans provides mortgages to veterans and military families in all 50 states and washington d c and specializes in va loans. Va helps servicemembers veterans and eligible surviving spouses become homeowners. Simultaneously purchase and improve a home.

Buy a home a condominium unit in a va approved project. In 2019 veterans united home loans generated the. Va loans are home mortgages backed by the department of veterans affairs va. The home must be for your own personal occupancy.

The program is for american veterans military members currently serving in the u s. Va loans are issued by private lenders such as a mortgage company or bank and guaranteed by the u s. If your va backed home loan goes into foreclosure the guaranty allows the lender to recover some or all of their losses. A va loan is a mortgage loan that s backed by the department of veterans affairs va for those who have served or are presently serving in the u s.

With a va loan eligible service members and veterans can buy a home with little or no down payment or refinance an existing home to get cash out or a lower monthly payment. With a va backed home loan we guarantee or stand behind a portion of the loan you get from a private lender. Customers with questions regarding our loan officers and their licensing may visit the nationwide mortgage licensing system directory for more information. Va home loans can be used to.

A va approved lender. You must have satisfactory credit sufficient income and a valid certificate of eligibility coe to be eligible for a va guaranteed home loan. The va does not originate loans but sets the rules for who may qualify issues minimum guidelines and. As part of our mission to serve you we provide a home loan guaranty benefit and other housing related programs to help you buy build repair retain or adapt a home for your own personal occupancy.