If you have served or are currently serving in the U.S. military, you may be eligible to use VA Loans to purchase or refinance your home. This benefit is a way to honor your service and help you achieve homeownership with unique advantages like $0 down payment and competitive interest rates.
VA loans can be used for various property types, including:
- Single-family homes
- Condominiums
- Manufactured homes
- Multi-unit properties (e.g., duplexes)
- New construction
- Loans are issued by private lenders (banks, mortgage companies) and are guaranteed by the U.S. Department of Veterans Affairs (VA).
The VA Loan program offers many main options to meet different financial needs:
- Zero down payment.
- VA Interest Rate Reduction Refinance Loan
- Also known as the VA Streamline Refinance
- Designed for Veterans with an existing VA loan.
- It Features:
- Simple process with limited paperwork.
- Often requires no credit check, income verification, or appraisal.
- Lower interest rate required compared to the current loan.
- Caps on costs and recoup time ensure financial benefit.
- VA Cash-Out Refinance Loan
- Allows qualified homeowners to refinance and access their home equity as cash.
- Open to homeowners with or without an existing VA loan.
- Features:
- Refinance up to 90% of the home’s value (subject to lender guidelines).
- Can be used as a rate-and-term refinance without withdrawing cash.
The VA loan program provides unique benefits like no private mortgage insurance (PMI), competitive interest rates, and flexible guidelines, making it an attractive option for military members and their families.
Our VA educated agents handle all types of VA sales, refinance,VA home and pest inspections and strategizing the process of zero down offers.