VA Home Loan Guaranty Program
The VA Home Loan Guaranty Program offered by the Department of Veteran Affairs. exists to “help veterans and active duty personnel purchase and retain homes in recognition of their service to the Nation.” The program offers the smartest options for eligible veterans to purchase or refinance their home. Types of VA Loans include the VA Home Loan, VA Streamline Refinance or Interest Rate Reduction Loan (IRRL).
Purchase a New Home with a VA Home Loan
The VA home loan is perfect for eligible veterans or active duty personnel looking to purchase a home. The maximum purchase priced allowed is $417,000.00. The seller can cover up to 100 percent of the closing costs while allowing the buyer to secure the lowest possible interest rate. No down payment is required as the VA guarantees the mortgage.
Save Big with a VA Streamline Refinance
VA streamline refinance allows those eligible with a VA Home Loan to refinance with no proof-of-income, job verification or home appraisal. The mortgage program also eases the financial demand on the buyer by allowing the buyer to forego two mortgage payments. The VA streamline refinance also allows the escrow account to be refunded after 30 days of closing. A VA Streamline Refinance is the best way to lower your interest rate (IRRL) on a current VA mortgage. The process is quick and easy compared to conventional loans.
VA Home Loan and VA Streamline Refinance Details
- Certificate of Eligibility required
- Credit check not required
- Purchase or refinance without closing costs
- No home appraisal required
- No VA employment verification
- Only one 30+ day late payment allowed within the last 12 months
- To refinance you must have a current VA mortgage
VA Home Loan and VA Streamline Refinance Specialists
The VALoanDesk.com loan officers are the VA specialists you can trust. Our extensive experience ensures that military personnel can take advantage of their hard earned benefits to purchase, refinance or cash out.
