VA Loans are backed by the US Department of Veterans Affairs. These loans are designed to help American veterans and their spouses obtain long-term financing for the purchase or refinance of a primary home.
The VA loan is a $0 down mortgage option available to Veterans, Service Members and select military spouses. Since VA Loans are government backed, banks do not require you to buy Private Mortgage Insurance.
The VA guaranty gives lenders a greater degree of safety and flexibility, which typically means a more competitive rate than non-VA loans. Because the loan is backed by the government, banks assume less risk and have less stringent qualification standards for VA Loans, making them easier to obtain.
Typically, a VA loan is considered a VA jumbo loan when the loan amount exceeds the county-specific VA loan limit. The VA loan limit for most counties in 2020 is $510,400 but reaches $765,600 in high-cost areas.
Purchase
Refinance
New Construction
Manufactured Homes
No Down Payment
Low Interest Rates
Low Closing Costs
Most Recent Paystub (30 day period)
Most Recent 2 Months of Bank Statements
W-2’s (2 Years)
Form DD214
Certificate of Eligibility
Copy of your state issued ID/Driver’s License and Social Security Card