VA Home Loans

VA mortgages allow 100% financing on Primary Residence for eligible veterans or survivors and are guaranteed by the Veterans Administration.

VA Loan    VA Home Loan

* Can only be used to purchase primary residence
* Only married couples can be co-borrowers
* May have more than one VA loan, but rarely at the
   same time
* Borrowers with no credit can use four alternitive
   lines of credit, including rent
* Cash reserves not required for 1 and 2 units
* Gift money allowed for family member(s) with gift
   letter
* Higher and more flexible qualifying ratios
* No down payment required
* VA loans are assumable
* No monthly mortgage insurance
* Loan limits same as conforming - $417,000 max
* Certificate of Eligibility (may be found on VA
   website)
* Full two years of work and residential history
   required for both borrowers
* Refinance Cash-Out; 100% of the reasonable value
* Maximum loan amount is the equivalent of existing
   first lien plus any energy efficient
   improvements
* No down payment required
* Non-purchasing spouse's liabilities must be used,
   but income can be used to wash debts
* VA funding fee may be financed
* If VA -related disability is 10% or greater, prospect
   is exempt from funding fee
* Full two years of work and residential history

Click on the VA link for more information;