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VA LOANS - Government guaranty program by the "United States
Department of Veterans Affairs"





To find out if you are eligible for this program, please click the banner above.


Fixed Rate Programs (Purchases & Refinances )

Loan Guaranty Loan Production



VA's Home Loan Program is for veterans and active duty military personnel
(referred to as veterans throughout the rest of the document) and certain members
of the reserves and national guard. VA's program provides an excellent product
and benefit for those individuals who have served or are serving to protect our
families and our nation, as well as giving them a form of financing that will allow
real estate professionals to sell more homes.

For those who are unfamiliar with the program, there are several advantages to
using VA's Home Loan Program. The VA allows a veteran who qualifies income
and credit-wise to purchase a primary residence without putting money down
towards the sales price, as long as the sales price does not exceed the appraised
value. Veterans do, however, need money towards closing costs and the earnest
money deposit, which the seller generally requires when a sales contract is
signed. Closing costs may be paid by the seller, which is an item to consider when
the sales price is being negotiated.

Other benefits of using Va's program (other than the 100% financing of the sales
price) include:

1. Loans are assumable, provided the assumer is qualified;

2. Veteran's closing costs are limited by VA;

3. Additional assistance is offered by VA should veterans have problems making
their home loan payments in the future

4. Prepayment of the loan without a penalty