VA Loans

The United States Department of Veterans Affairs established the VA mortgage loan program to help veterans and their families obtain home financing. VA loans offer up to 100% financing on the home’s value.

Requirements for a VA loan

• VA Standard loan amounts (up to $647,200)
• A minimum credit score of 580
• A maximum LTV up to 100%
• No monthly MI – one-time funding fee at closing
• 1-4 unit primary residence
• Fixed rate and adjustable-rate options; odd terms acceptable
• Maximum debt-to-income ratio of 43% for manually underwritten loans
• Funding fee permitted to be financed in whole or in part