Veterans Affairs (VA) Mortgages
VA loans are in place to assist veterans in purchasong a home. They will allow for up to 100% loan to values. In other words no money dow. There will be some closing costs, but we can usually get the sellers to pay them.
Credit score is not so important on VA loans. They are more concerned with your credit portfolio. This is helpful in getting a lot of people qualified when other programs dont work.
We will need your discharge papers (DD 214) to determine your eligibility. There are different levels depending on what service you were in and what era.
A lot of people dont know this, but you can use your VA loan more than once. to see if you qualifyjust give us a call.
Here is a list of common uses for VA loans:
- 100% Purchase - Applies to manufactured homes. See manufacted guidelines
- 90% Refinance - Cash out or rate and term. Again Manufactured homes are acceptable.
If you are a disabled Veteran, you will not have to pay the VA funding fee for a loan. this saves alot of money so make sure you point it out when we talk.
Want to see if your manufactured home qualifies? click here
