PRIMARY RESIDENCE ONLY

VA helps Servicemembers, Veterans, and eligible surviving spouses become homeowners.

Loan Parameters:

• Purchase and refinance transactions
• 0% minimum down payment.
• 100% Financing, No down payment required
• Seller Contributions up to 4% of the loan amount
• 620 Min Credit Score.
• 100% gift funds are allowed
• Available to Veterans, Service Members and select military spouses.
• Purchase and Streamline Refinance
• Maximum Loan Amount, NA
• Single Family Residence, Duplex, Triplex and Fourplex
• Terms; 30, 20, 25, and 15 year loans. Adjustable rate mortgages also available
• U.S. Citizen, permanent resident alien or qualified alien with work visa
• All borrowers must occupy the property as their primary residence within 60 days of closing.
• Primary Residence only
• If Manufactured home, must be multi-wide. Single-wides are Ineligible
• Max Debt to income ratios 65%
• Certificate of Eligibility (COE) is required at submission.
• Allowed for 4 Units, PUD's, Townhomes, Row homes, Manufactured Housing (see requirements above), and Fannie Mae approved condo projects
• No VA funding fee when service related disability for Veteran or for surviving spouse when vet received disability
• VA refinance to another VA with a IRRRL = Interest Rate Reduction Refinancing Loan. “Streamline” Refinanced.
• For IRRRL (Streamline Refinance) there is no appraisal and no income documents needed.