Veterans Administration (VA) Home Loans
The VA Home Loan Program was created to assist eligible veterans of the armed services obtain quality home loans. The loans are insured by the Veterans Administration and are widely considered a valuable military benefit. The VA qualification guidelines are flexible and no down payments are required.
VA Home Loans from Presidential Mortgage Group:
- Fixed-Rate Mortgages: 30-year, 25-year, 20 year, 15 year
- Adjustable-Rate Mortgages: 5/1 ARM, 3/1 ARM
Features and Benefits of the VA Loan Program:
- 100% financing, no down payment required
- No monthly mortgage insurance premiums
- Lenient qualification guidelines allow for approval of higher loan amounts
- Less-than-perfect credit may be acceptable
- VA loans are assumable
- Any money needed for closing may come from a gift made by a relative
- Sellers may pay up to 6% of the sales price towards closing costs or to pay off personal debts of the veteran
- Cash-out refinances are allowed to 90% of the home’s value
VA loans are a great choice for borrowers who are entitled to the program and plan to make little or no down payment.
Learn more about how to get started with a VA loan by contacting a loan officer at Presidential Mortgage Group today!
