What is a VA Loan?
A VA loan* is a home loan offered to veterans or active members of the U.S. military. Additionally, a spouse of a veteran or a deceased military member may also qualify.
How can I benefit from applying for a VA Loan?
This type of loan does not require a down payment to be made on the home but does require a minimum FICO score of 580 to be eligible. Homebuyers who use this type of loan and end up needing assistance paying back their mortgage can also receive financial help from the VA.
Tips for taking out a VA Loan:
While this type of loan does not require a down payment to be made in order to be approved, a one-time fee is still required. This loan is one of the most affordable options for home buyers, but as with any loan decision, you’ll want to discuss your situation with your loan officer to strategize about the best plan for you and your family.
For any other questions regarding buying a home, give our team a call. And to find out if you qualify for a VA loan, contact us to speak to a team member who will answer any questions you have. Ready to apply for a VA loan? Click this link and fill out our application!
*A down payment is required if the borrower does not have full VA entitlement or when the loan amount exceeds
the VA county limits. VA loans subject to individual VA Entitlement amounts and eligibility, qualifying factors
such as income and credit guidelines, and property limits. Fairway 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