VA Loans

• You can buy a home with no money down.
• You can refinance your home up to 100% of the value of your home.
• You never have to pay PMI (Private Mortgage Insurance).
• Sellers can pay your closing costs.
• They are usually easier to get because the Government guarantees the loan so that there is much less risk to the lender.

Who is eligible for a VA Loan?

As a rule of thumb, almost all active duty or honorably discharged service members are eligible for a VA loan.

What is the VA Funding Fee and is it required?

Yes, it is required. It is a fee paid directly to the Department of Veteran's Affairs so that they can guarantee your loan and provide you with the opportunity to receive a loan with little to no money out of pocket.

Do I have to pay the VA Funding Fee out of pocket?

No, you can include the VA Funding Fee in your loan and pay the funding fee over the course of your loan.

Do I still have to pay other normal closing costs like Appraisal, Title and Escrows?

Yes, however with a VA loan if you are purchasing a new home the seller can pay for a part of your closing costs.