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VA Home Loans

The VA loan product is a mortgage which is guaranteed by the US Department of Veterans Affairs. If you are a military veteran or the surviving spouse of a military vet you want be eligible for a VA loan. Speak with a qualified VA loan lender today and see if you can take advantage of this mortgage product today!

The VA direct home loan program was brought into existence for the purpose of providing lower cost home financing option to eligible military veterans in area of the country where financing alternatives were either limited or non existent. The programs were established so that military service members could purchase homes with little or no money down. While initially created for only active duty personal during specific periods of time the Veterans Home Loan Program amendments of 1992 expanded eligibility; thus allowing some reservists and National Guard members to become eligible.

The 100 percent financing option is a huge benefit to many because unlike other loans it comes without the required private mortgage insurance (PMI) or the need for the borrower to use a 20% second mortgage as a piggy back loan. No being required to carry any PMI allows you as the borrower to qualify for a larger mortgage. This does not mean that there are no fees with a VA loan. VA funding fees usually are somewhere between 0 and 3.3% of the total loan amount. These fees can however be financed into the home loan. If you happen to be a disabled veteran you may qualify for those fees to be waved.

An advantage VA loans have on their conforming counterparts is that the VA can insure a mortgage with a monthly payment equaling up to 41% of your gross monthly income compared to a limit of 28% on conforming loans. However, this is assuming that that eligible veteran does not have any other monthly debt payments.

You might be wondering how large of a mortgage you can get with a VA loan? The maximum VA loan amount with no down payment as of January 1st 2010 was $417,000. However, high cost counties across the country allow for loan amount limits up to $1,094,625. If you would like to find out if you live in a high cost county visit

Looking to speak with a qualified VA loan lender? Let us match you with up to 4 mortgage professionals who can help you find the best loan possible. Rates are still low so act now before there gone.

VA Loan News

How to Get Your VA Purchase Offer Declined –

VA Home Loan Benefits Now Available Through Blue Loan Services – PR Newswire (press release)

VA Loan Q & A\’s On Helps California Veterans Better … – PR Newswire (press release)

Current Mortgage Interest Rates: VA and FHA Mortgage Rates at KeyBank for … – Eastern Morning Herald

Tribe signs deal so Mohawk veterans can get VA home loans – North Country Now

Using \’Other\’ Income to Qualify for a VA Loan –