The VA loan is a loan program from the Veterans Administration that is for active duty military personnel and military veterans. Like the FHA loan program, the Veterans Administration does NOT issue or purchase mortgage loans. The VA issues mortgage insurance to private investors to insure against borrower default. The mortgage insurance is financed by borrowers paying an upfront “funding fee.” The VA loan is a mortgage benefit to
Our Product:
*90% LTV to refinance; no appraisal required for streamline refinance (streamline available if loan is currently with specific investors).
**Technically, the VA has no minimum credit score, but there are few lenders in the United States that will issue a VA loan with a credit score below 620.
***For second time users, 3.3%. Funding fee waived for disabled veterans. Fee can be financed into the loan amount.