VA Loan

Unlike other options, VA loans are available at either a fixed-rate or as ARM mortgages – and never include monthly insurance (PMI). A VA loan is guaranteed by the U.S. Department of Veterans Affairs and is designed to offer long-term financing to eligible American veterans or their surviving spouses.

Qualification Requirements

  • Current or former military personnel
  • Surviving spouse of military personnel and not remarried
  • No loan defaults within the last year
  • No declared bankruptcy within the last two years
  • Minimum credit score of 620

Product Details

  • 30-, 20- or 15-year fixed-rates and 5-year ARM loans available
  • Jumbo VA loans available up to $1,094,625 and up to $325,000 cash-out on a refinance
  • Refinance as high as 100% of your primary home’s value
  • VA Streamline refinance with a lowered funding fee and flexible documentation requirements – available for veterans currently in VA loans
  • Buy a primary home with no money down
  • Fixed rate monthly payments are based on interest rate, principal loan amount and amortized interest over 15, 20 or 30 years. Your payment will not change throughout the life of the loan (payments on loans may include taxes, insurance, and mortgage insurance)
  • ARM interest rates are fixed for a period of 5 years. After the fixed-rate period, your interest rate can adjust up or down depending on the market