Veterans Administration (VA) Home Loan

If you are a military veteran, who has been on active duty, or a reservist with the applicable amount of active duty service and training, you may be eligible to utilize a military benefit to purchase a home. The VA Home Loan Guaranty Program offers home loans to those qualified Veterans who have the Certificate of Eligibility in place. VA loans offer no down payment and some of the most liberal qualifying requirements of any mortgage type available today. If you are a Veteran, than a VA loan is a viable choice for those who are eligible.

VA loans are available up to 100% of the purchase price of the home. That means no money down and no minimum out-of-pocket investment are needed by the eligible Veteran. Closing costs and most other loan fees can be gifted or paid for by the seller and even the lender.

VA guidelines allow up to 41.00% of a borrowers income to be used toward qualifying for the mortgage payment. Of course, we do have to include your current credit (installment, revolving and child care) debts in the mix when qualifying you to the 41.00% debt to income ratio. That is higher than a lot of conventional or FHA loans and expands a Veteran's ability to buy a home. And, best of all, VA loans are not a one-time benefit to Veterans. Eligible Veterans can use their VA financing to buy their first, second or third home, even if they have used their eligibility before. The Veteran simply must restore their eligibility and we can proceed with the new purchase.

If you think that this program, or any of the other loan programs that we offer may be something that you are interested in, please feel free to give me a call at 540-382-5270 or visit me on the web at http://www.daveshelor.com/. All first mortgage products are originated through Prosperity Mortgage.