We've helped thousands of Veterans and their families achieve homeownership using the VA home loan.
Did you know just a small fraction of our military has used their VA home loan benefit? There are some Veterans who don’t even know it exists. The VA home loan benefit is one of the most powerful loan products available, and it has significant financial benefits. With competitive interest rates and no down payment or private mortgage insurance needed, the VA loan is a product that our service members can leverage to their advantage.
The VA loan remains one of the only lending programs on the market that offers a zero down payment mortgage. Most lending programs require at least some form of down payment, ranging from 3.5% to 20%.
Borrowers using the VA loan can purchase immediately with no money down, avoiding years of saving up and paying rent to someone else.
No down payment required on most VA purchases
VA loans do not require mortgage insurance, even when the homebuyer is putting no money down. Fees are lower than they are for other loan programs and can be covered by seller credits or even a gift. As a result, the buyer not only saves cash upfront but can also save thousands over the lifetime of the loan and have more purchasing power when shopping for a home.
Lower fees and no monthly mortgage insurance
As of January 1st, 2020, the VA has changed its loan limit to NO LIMIT!
With full entitlement intact, lenders will have different requirements on their loan limits based on your FICO score. At APM, our minimum credit score is just 640 if your loan amount is below the county loan limit. Anything over that is on a case-by-case basis.
Only limitation is your entitlement
The VA loan has very flexible underwriting guidelines compared to a conventional mortgage and other types of home loan financing. Credit scores can go as low as 40 points lower than conventional loans, and underwriters can approve the loan based on makes-sense financing.
VA loans also allow for a higher debt-to-income ratio than other types of mortgages. Because of this, borrowers in some markets qualify for tens of thousands more in purchase price than if they used conventional financing.
Easier qualifying than many other programs
Our user-friendly calculators can help you compare payments and purchase prices to determine how much home you can afford.