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VA Home Loan

VA Loan Advantages

VA Loan Eligibility

VA Loan Refinancing

Advantages for Military Home buyers

The VA Home Loan is offered solely to the brave men and women who have served our country and select military spouses. This program is one of the most desirable pathways to achieving homeownership because of its many advantages and benefits. It is designed specifically to help service members and Veterans meet their housing and financial needs while also achieving maximum savings. 

 

No Down Payment*

The VA Home Loan Program offers a no down payment required benefit. This benefit sets it apart from most other available home loans on the market today.

Easier to Qualify

Through less stringent underwriting guidelines, the VA Home Loan Program allows homeownership opportunities to service members, who couldn’t otherwise qualify for conventional financing. 

Lower Payments

Lower monthly mortgage payments are achieved by combining competitive interest rates with the advantage of having no private mortgage insurance added to the mortgage payment.

First-Time Buyers

The VA Home Loan Program is extremely helpful for the First-Time Home Buyer because it offers less stringent credit standards combined with the no down payment benefit. 

Am I Eligible for a VA Home Loan?

Your eligibility to utilize a VA Home Loan is determined by your length of service or service commitment, duty status, and the character of service. 

Our VA the Fairway experts will help you learn if you are eligible for a VA Loan, we are also happy to assist in obtaining your Certificate of Eligibility.

Have questions about your eligibility? Want to see if you qualify? Call (888) 301-3465 to speak with one of our VA Specialists.

*Cases involving other than honorable discharges will usually require further development by VA.

You may be eligible for a VA Home Loan if one or more of these scenarios apply*:

  • You have served 181 days of active service during peacetime, or 90 consecutive days of active service during wartime
  • You have more than 6 years of service in the National Guard or Reserves, less if discharged for a service-connected disability
  • You are the un-remarried spouse of a service member who has died in the line of duty or as a result of a service-related disability or is missing in action or a prisoner of war.
  • There are other circumstances in which you may be eligible, contact us with questions!

Refinancing with a VA Loan

There are also different options for refinancing within the VA Loan Program. For those who qualify, the most popular types of refinances are VA Cash-Out Refinances, and VA Streamline Refinances.

Cash-Out Refinancing

Cash-Out Refinances give the borrower an option to convert their home equity into a lump sum of cash often times for home repairs, paying down debts, funding schooling, or financial emergencies. This can be used to turn a loan that isn’t a VA loan into a VA loan.

Streamline Refinancing

Streamline Refinances (or an Interest Rate Reduction Refinance Loan, commonly referred to as a VA IRRRL) allow those who have an existing VA Loan to refinance to a lower interest rate, those with an ARM to refinance into a fixed interest rate. This loan is possible to accomplish with no money out of pocket and does not allow for any ‘cash back’ to borrowers.

VA Loan Advantages

Advantages for Military Home buyers

The VA Home Loan is offered solely to the brave men and women who have served our country and select military spouses. This program is one of the most desirable pathways to achieving homeownership because of its many advantages and benefits. It is designed specifically to help service members and Veterans meet their housing and financial needs while also achieving maximum savings.

 

No Down Payment*

The VA Home Loan Program offers a no down payment required benefit. This benefit sets it apart from most other available home loans on the market today.

Find out more

Easier to Qualify

Through less stringent underwriting guidelines, the VA Home Loan Program allows homeownership opportunities to service members, who couldn’t otherwise qualify for conventional financing.

Lower Payments

Lower monthly mortgage payments are achieved by combining competitive interest rates with the advantage of having no private mortgage insurance added to the mortgage payment.

First-Time Buyers

The VA Home Loan Program is extremely helpful for the First-Time Home Buyer because it offers less stringent credit standards combined with the no down payment benefit.

VA Loan Eligibility

Am I Eligible for a VA Home Loan?

Your eligibility to utilize a VA Home Loan is determined by your length of service or service commitment, duty status, and the character of service.

Our VA the Fairway experts will help you learn if you are eligible for a VA Loan, we are also happy to assist in obtaining your Certificate of Eligibility.

Have questions about your eligibility? Want to see if you qualify? Call (888) 301-3465 to speak with one of our VA Specialists.
Learn More about VA Loans

*Cases involving other than honorable discharges will usually require further development by VA.

 

You may be eligible for a VA Home Loan if one or more of these scenarios apply*:

  • You have served 181 days of active service during peacetime, or 90 consecutive days of active service during wartime
  • You have more than 6 years of service in the National Guard or Reserves, less if discharged for a service-connected disability
  • You are the un-remarried spouse of a service member who has died in the line of duty or as a result of a service-related disability or is missing in action or a prisoner of war.
  • There are other circumstances in which you may be eligible, contact us with questions!
VA Loan Refinancing

Refinancing with a VA Loan

There are also different options for refinancing within the VA Loan Program. For those who qualify, the most popular types of refinances are VA Cash-Out Refinances, and VA Streamline Refinances.

Cash-Out Refinancing

Cash-Out Refinances give the borrower an option to convert their home equity into a lump sum of cash often times for home repairs, paying down debts, funding schooling, or financial emergencies. This can be used to turn a loan that isn’t a VA loan into a VA loan.

Streamline Refinancing

Streamline Refinances (or an Interest Rate Reduction Refinance Loan, commonly referred to as a VA IRRRL) allow those who have an existing VA Loan to refinance to a lower interest rate, those with an ARM to refinance into a fixed interest rate. This loan is possible to accomplish with no money out of pocket and does not allow for any ‘cash back’ to borrowers.

Learn More about VA Loans

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