A VA loan is a great benefit to military personnel during and after their service. PrimeLending understands the importance of having a “home base” for military and their families and is proud to be able to help active and retired military use our VA loan products to meet their unique needs. That’s why we’re sharing how to take advantage of your VA benefits to reach your homeownership goals.
Who Qualifies for a VA Loan
Want to finance your home purchase but aren’t sure if you qualify? We’re here to help you clear up any confusion on who qualifies. Active duty, discharged, reservist (after 6 years of service), and retired service persons from any of the following are eligible if you meet basic qualifying criteria for a VA home loan:
- Air Force
- Coast Guard
- National Guard
- Surviving Spouse
Benefits of a VA Loan
What makes a VA loan different than other loans? At PrimeLending, we aim to give back to those serving our country with special benefits you won’t get with a regular loan. In addition to these great benefits, VA loans are also backed by U.S. Department of Veterans Affairs.
Benefits for our heroes:
- No down payment
- Higher loan value
- No private mortgage insurance
- Limit on closing costs
- Option for seller to pay closing costs
- No lender fees*
- No penalty fee for early payoffs
- Possible VA assistance if you have difficulty with payments
Purchase, Refinance or Renovate
No matter where you are on your homebuying journey, we have a VA loan to fit your needs. One of the most common uses for a VA loan is purchasing or building a new home. If you’re ready to finance your very own home base, taking advantage of the benefits from a VA loan is a great start to your homeownership journey.
Already have a VA home loan? Take advantage of low rates and save on your monthly payment with a refinance. If you’re interested in learning about having cash in hand after a refinance, chat with one of our loan experts about a cash out refinance.
Lastly, if you’ve noticed some things about your home that need updating or want to create a refreshed space, a VA home loan can even help you renovate. Whether it’s your bathroom, kitchen or living room, creating your ideal home is easier with VA benefits.
Ready to see if you qualify and what loan options are available for you? Our loan experts are committed to helping you find the right loan to fit your needs. Connect with a PrimeLending loan expert to get started.
*All lender closing costs such as origination, processing, underwriting, and closing will be waived, borrower is still responsible for third party fees such as VA funding fee, title, and appraisal etc. Down payment waiver is based on VA eligibility. This offer is valid until 12/31/2020. Savings only applies to direct originations made by PrimeLending for first mortgage purchase or refinance transactions, and is not available on loans obtained through mortgage brokers. Only one offer per loan transaction is available, and savings cannot be combined with any other offer. Savings will reflect on Closing Disclosure at closing. Borrower must lock their loan before 12/31/2020.