VA fixed rate
As a benefit to veterans, the Department of Veteran Affairs guarantees repayment of loans made to veterans with no down payment, in most cases, and liberal qualifying guidelines. This makes it easy for veterans to finance their homes.

VA Loan Program Synopsis

Borrowers	Features
Low Cash To Close	• Up to 100% financing • Seller can pay all closing costs and/or discount points, with no limit! • Seller can pay prepaids, funding fee and temporary buy down funds up to a maximum of 4 points • No cash reserves required after closing
Home Affordability	• Single qualifying ratio • Alternative income sources must continue only 5 years
Easy Qualification	• No cash reserves required after closing • Liberal qualifying ratio • Alternative income sources must continue only 5 years
Speed	• VA loan inhouse underwriting*
Special Advantage	• Some loans are assumable with qualifying

Some of the best loans available. The goal is to make housing affordable and more accessible for U.S. veterans. Available to veterans, reservists, active-duty personnel and un-remarried surviving spouses of veterans with 100% entitlement.

The features here are excellent. No down payment. And seriously competitive interest rates. No application fee and lower closing costs. And no cash reserve is required for the purchase of an owner-occupied single-family residence.

Administered by the U.S. Department of Veterans Affairs, but made available through us, these are fixed rate loans. Maximum loan amounts vary by county and state.

VA loans are available for home buying and, in most states, for refinancing.

Why a VA loan?
The more you know about our home loan programs, the more you will realize how little "red tape" there really is in getting a VA loan. VA loans are often made without any down payment at all, and frequently offer lower interest rates than ordinarily available with other kinds of loans. Aside from the veteran's certificate of eligibility and the VA-assigned appraisal, the application process is not much different than any other type of mortgage loan.

What is a VA guaranteed loan?
VA's guaranty on the loan protects the lender against loss if the payments are not made, and is intended to encourage lenders to offer veterans loans with more favorable terms. The amount of guaranty on the loan depends on the loan amount and whether the veteran used some entitlement previously. With the current maximum guaranty, a veteran who hasn't previously used the benefit may be able to obtain a VA loan. Qualified veterans and active duty military can obtain a loan of up to $417,000, or $625,500 in high-cost areas, with no money down. The amount depends on the borrower's income level and the appraised value of the property. Let a knowledgeable, courteous VA loan specialist help you to maximize your VA benefits today!

VA loans - who is eligible?
Almost 30 million veterans and service personnel are eligible for VA financing. Even though many of that 30 million have already used their loan benefits, it may be possible for them to buy homes again with VA financing using remaining or restored loan entitlement.

• Veterans with active duty service, that was not dishonorable, during World War II and later periods are eligible for VA loan benefits.
• World War II (September 16, 1940 to July 25, 1947)
• Korean conflict (June 27, 1950 to January 31, 1955)
• Vietnam era (August 5, 1964 to May 7, 1975) veterans must have at least 90 days' service.
• Veterans with service only during peacetime periods and active duty military personnel must have had more than 180 days' active service.
• Veterans of enlisted service which began after September 7, 1980, or officers with service beginning after October 16, 1981, must in most cases have served at least 2 years.
  
• Persian Gulf Conflict—Generally, reservists and National Guard members who were activated on or after August 2, 1990, served at least 90 days and were discharged are eligible.
• Selective Reserve—Members of the Selected Reserve, including National Guard, who are not otherwise eligible and who have completed 6 years of service and have been honorably discharged or have completed 6 years of service and are still serving may be eligible. Expanded eligibility for Reserves and National Guard individuals will expire October 28, 1999. Contact the local VA office to find out what is needed to establish eligibility. Reservists will pay a slightly higher funding fee than regular veterans.