About Our VA Loan Programs
The US Government’s VA loans program helps veterans, active-duty service members members and their families qualify for a home loan. VA home loans are backed by the US Department of Veterans Affairs.
VA home loans feature no down payment or private mortgage insurance (PMI) requirements, giving you the best choice for any veteran or active service member looking to purchase a home.
VA home loans are to help veterans finance the purchase of homes with favorable loan terms. There are members of the Selected Reserve, active duty personnel and certain categories of spouses that may also be eligible for VA loan financing. You will need to provide a Certificate of Eligibility from the VA to prove to the lender that you are eligible for a VA loan
VA loan is often the best and easiest way for veterans to purchase a home of their own.
*A down payment is required if the borrower does not have full VA entitlement, or if the loan amount is greater than $453,100. VA loans subject to individual VA Entitlement amounts and eligibility, qualifying factors such as income and credit standards, and property limits. Brightleaf Mortgage is not affiliated with any government agencies. These materials are not from VA, HUD or FHA, and were not approved by VA, HUD or FHA, or any other government agency.
VA Loan Benefits*
- Minimum FICO 580
- Ensuring that veterans are given equal opportunity to buy homes with VA assistance
- No down payment (unless required by lender or if the purchase price is more than the reasonable value of the property)
- Limitations on closing cost
- Allows seller/lender concessions to help pay closing cost
- Single family residences and manufactured homes can be financed
- 100% Financing
VA Refinance
If you currently have a VA loan and are looking to refinance you are able to refinance with a VA IRRRL/streamline or cash-out loan.
The streamlined version lowers the mortgage rate of an already existing VA loan, normally for less than the current principal and interest rate. Which doesn’t require a credit check or appraisal. The cash-out option involves a credit check and appraisal.