VA - Apply2Buy

VA 0% Down Home Loan

Must be eligible based on military service
No down payment
No mortgage insurance
Capped closing costs at 1%
No VA loan limits, It is based on what you qualify for. (DTI)
Minimum credit score is 600 and in some cases we can go down to 500
Must be your primary residence
VA funding fees up to 3.6% of the loan amount but it can be financed. (Potentially waived for disabled Veterans)

A VA-backed loan often offers:

No down payment as long as the sales price isn’t higher than the home’s appraised value (the value set for the home after an expert reviews the property)
Better terms and interest rates than other loans from private banks, mortgage companies, or credit unions (also called lenders)
The ability to borrow up to the Fannie Mae/Freddie Mac conforming loan limit on a no-down-payment loan in most areas—and more in some high-cost counties. You can borrow more than this amount if you want to make a down payment.
No need for private mortgage insurance (PMI) or mortgage insurance premiums (MIP)
- PMI is a type of insurance that protects the lender if you end up not being able to pay your mortgage. It’s usually required on conventional loans if you make a down payment of less than 20% of the total mortgage amount.
- MIP is what the Federal Housing Administration (FHA) requires you to pay to self-insure an FHA loan against future loss.
Fewer closing costs, which may be paid by the seller
No pre-payment penalty if you pay the loan off early

If you qualify for a VA-backed loan, you can use the loan to:

You can also:

Get a VA-backed home loan to buy your first home
Use your VA loan benefit again if you sell or refinance a home you bought with a VA-backed home loan