VA Loans

VA mortgages are labeled as the best mortgage option for eligible veteran or active duty military personnel looking to buy a home.

What Is A VA Loan?

The VA loan is a type of mortgage that is guaranteed by the U.S. Department of Veterans Affairs (VA) and offers long-term financing to eligible veterans in all parts of the country where private financing isn’t necessarily available. The VA loan mortgage was originally created to aid eligible returning service members, surviving spouses, veterans, and their families in finding housing in 1944. Veteran Affairs locate and label specific areas as housing credit shortage areas. These regions are typically rural areas such as small cities and towns on the outskirts of large cities.

Sometimes considered as the most flexible and prominent lending option available on the market today, the VA loan guarantees part of the loan while enabling the lender to offer more favorable terms. Being offered by private lenders, such as banks and Mortgage Companies, this loan pertains to purchasing, building, repairing, retaining, or adapting a home to fit your specific needs if you are a qualifying borrower. We are a certified lender for the VA home loan.

The most significant factor regarding VA Loans is the borrower’s ability to buy a home without placing any money down. With other loans, you are required to pay for private mortgage insurance if you don’t put at least 20% down. The only other programs remotely resembling this type of option are Fannie Mae’s Home Path option and the USDA’s Rural Development Home Loan.

Joshua Phillips Loan Officer

Joshua Phillips

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