Veteran (VA) Loans
If you have served or are currenty serving in the Armed Forces, you may qualify for a Veteran loan. Whether you currently have a Veterans Affair Loan or not, you may be able to refinance using your benefits. A Veteran loan is a special type of loan to veterans that is guaranteed in part by the Veterans Administration. Those who qualify for a VA loan have served 90 days during wartime or 181 days during peacetime and obtained an honorable discharge. For people in the National Guard or reserves, 6 years service is required for a VA loan. For more details regarding qualifications, consult your regional Veterans Administration office or the government's official website for Veteran Loans.
The amount of guaranteed money in a Veteran loan (also called an "entitlement") differs based on the amount that the loan is for. The VA home loan is guaranteed with no money down for any loan up to $417,000. VA loans provide 100 percent financing and have competitive interest rates. Veterans now have an option of a Fixed rate loan or an Adjustable rate VA mortgage (ARM). While VA loans do take longer to process than other loans, the process has become less complicated in recent years. For more information regarding the advantages and disadvantages of VA loans, check with your regional Veterans Administration office, or simply fill out our short form above and one of our loan representatives will contact you shortly. Propel Home Loans also processes many VA loan refinances.
Equal Opportunity Lender