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VA Loan

What is a VA Loan?

The U.S. Department of Veteran Affairs helps Veterans, service members and eligible surviving spouses to become homeowners. A VA loan is a mortgage loan in the United States guaranteed by the U.S. Department of Veterans Affairs (VA). The loan may be issued by qualified lenders. The VA loan was designed to offer long-term financing to eligible American veterans or their surviving spouses (provided they do not remarry).

US Lender can help you with your VA Loan!

Why a VA Loan?

There are many benefits, as taken directly from the Veterans Affairs site: no down payment required (unless required by the lender or the purchase price is more than the reasonable value of the property); buyer informed of reasonable value; negotiable interest rate… and more.

Benefits of a VA Loan
  • 0% Downpayment
  • No PMI (Private Mortgage Insurance)
  • Low Interest Rates
  • BAH* (Basic Allowance for Housing) *Active Military
  • No Pre-Payment Penalty

Our VA Loan Rates Are Low & Our Process is Quick & Painless

We’re here to make the VA home loan process a whole lot easier, with tools and expertise that will help guide you along the way, starting with our FREE VA Loan Qualifier. We’ll help you clearly see differences between loan programs, allowing you to choose the right one for you whether you’re a first-time home buyer or a seasoned investor.

The VA Loan Process

Here’s how our VA loan process works:
  • Complete our simple mortgage pre-approval letter request
  • Receive options based on your unique criteria and scenario
  • Compare mortgage interest rates and terms
  • Choose the offer that best fits your needs

Am I Eligible?

To be eligible, you must have satisfactory credit, sufficient income to meet the expected obligations, and a valid Certificate of Eligibility.
  • Is the property going to be owner occupied?
  • Do you have proof of service?
  • Did you service on active duty in the Army, Navy, Air Force, Marine Corp or Coast Guard after September 15, 1940 and was discharged under conditions other than dishonorable?
  • You have served 90 days or more during wartime or 181 continuous days or more (peacetime).
  • Did you enlist after September 7, 1980 or entered service as an officer after October 16, 1981?
  • Have served 24 months of active duty or Full period for which called to order to active duty, but not less than 90 days (any part during wartime) or 181 continuous days (peacetime).
  • Are you an active-duty service personal or serve in the National Guard or Reserves?
  • Are you the spouse of a Veteran who died while in service or from service-connected disability?

Did you say No to any of these questions? You may still be eligible for a VA loan.

Refinancing a VA Loan with an IRRRL?

IRRRL stands for Interest Rate Reduction Refinancing Loan. A IRRRL is a VA-guaranteed loan made to refinance an existing VA-guaranteed loan. The IRRRL is generally performed to lower the interest rate and reduce the monthly payment on the existing VA guaranteed loan.

Benefits of an IRRRL:
  • No appraisal or credit underwriting package
  • No cash to close – Lenders can include all closing costs into the new loan

Do You Have a Valid COE?

COE stands for Certificate of Eligibility. The COE verifies that you are eligible for a VA-backed loan.

You don’t need your Certificate of Eligibility to start the loan process. The Certificate of Eligibility can be obtained directly through the Lender through the VA Information Portal.

Veterans may also apply for the COE online or by mail.


VA County Loan Limits

See conforming loan limits by county here.

VA Funding Fee

Generally, all Veterans using the VA Home Loan Guaranty benefit must pay a funding fee. The funding fee is a percentage of the loan amount and varies based on loan type and military category, if you are first time or subsequent loan user and whether you are making a down payment.

Good news! You have the option to finance the VA funding fee into the loan amount so you don't need to pay the VA Funding Fee in cash at time of closing.

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