VA Loan
A VA loan is perhaps the most powerful and flexible lending option on the market today. Rather than issue loans, the VA instead pledges to repay about a quarter of every loan it guarantees in the unlikely event the borrower defaults. That guarantee gives VA-approved lenders greater protection when lending to military borrowers and often leads to highly competitive rates and terms for qualified veterans.
Benefits of VA Loans
Far and away, the most significant benefit of a VA loan is the borrower's ability to purchase with no money down. Apart from the government's UDSA's Rural Development home loan and Fannie Mae's Home Path, it's all but impossible to find a lending option today that provides borrowers with 100 percent financing.VA loans also come with less stringent underwriting standards and requirements than conventional loans. In fact, about 80 percent of VA borrowers could not have qualified for a conventional loan. These loans also come with no private mortgage insurance (PMI), a monthly expense that conventional borrowers are required to pay unless they put down at least 20 percent of the loan amount.
VA loans offer a few other bells and whistles:
Competitive interest rates that are routinely lower than conventional rates
No prepayment penalties
Higher allowable debt-to-income ratios than for many other loans
Streamlined refinancing loans that require no additional underwriting
Apply Online
Quick Quote
Don't Wait! Find out about your options Today!
Our happy Clients
-
"We appreciate the hard work that you have done on our behalf to get us in this home. We are grateful for all your assistance and your team. Thank you."
-
"Anyway, it’s been a rough road lol lol thank you guys for everything you’ve done, sorry about the stress. I want you to know I think you guys did an absolutely wonderful job. My job is hard and stressful too, dealing with angry people, lol lol but I can’t compare to your guys’ dealing with all that BS! I appreciate you! Thank you for referring me to Juana, she’s awesome!!"
-
"Your company went way above what I expected of you. This is my first home, I didn't know what I was doing or what to expect. Your people explained everything & went out of their way to help me every step of the way"
-
"We were completely satisfied with the service received. The people at First Mortgage are extremely professional and courteous and patient with all our questions and requests. We were treated with utmost respect. I would definitely recommend First Mortgage to anyone."