VA Mortgages - Im Loan

VA Mortgages

Honoring your service with the benefits you deserve.

Soldier

VA loans are our way of showing gratitude to those who have served our country. As a borrower, you can enjoy the benefits of no down payment, lower interest rates, and fewer fees, making homeownership more accessible and affordable for you and your family. We are committed to helping our veterans and their families achieve the American dream of owning a home.

A VA loan is a type of mortgage loan that is guaranteed by the U.S. Department of Veterans Affairs (VA). VA loans are designed to help current and former members of the U.S. military, as well as certain other groups, purchase homes.

One of the main benefits of a VA loan is that it typically requires no down payment, which can make it easier for military personnel and their families to buy a home. VA loans also typically have lower interest rates and fewer fees than traditional mortgage loans.

To qualify for a VA loan, borrowers generally need to have served a certain length of time in the military or be the surviving spouse of a veteran who died in service or as a result of a service-related injury. There may also be credit and income requirements that vary depending on the lender.

There are several benefits of a VA loan, including:

No down payment:

VA loans typically do not require a down payment, which can make it easier for military personnel and their families to buy a home.

Lower interest rates:

VA loans usually offer lower interest rates than traditional mortgage loans, which can save borrowers thousands of dollars over the life of the loan.

No mortgage insurance:

Unlike some other types of loans, VA loans do not require borrowers to pay for private mortgage insurance (PMI), which can save borrowers hundreds of dollars each month.

Flexible credit requirements:

While lenders may have their own credit requirements, VA loans generally have more flexible credit requirements than other types of loans.

Assumable:

VA loans are assumable, which means that if you sell your home, the buyer can assume your loan and take advantage of the same benefits you did.

Closing cost limitations:

VA loans limit the amount that a borrower can be charged for closing costs, which can save borrowers thousands of dollars at closing.

Overall, VA loans offer significant financial benefits and flexibility for military personnel and their families who are looking to buy a home.
Visit our VA loan center to check our latest rates or contact us to learn more!