What can a VA Loan be used for?

  • To buy a home, including townhouse or condominium unit in a VA-approved project.
  • To build a home.
  • To simultaneously purchase and improve a home.
  • To improve a home by installing energy-related features such as solar or heating/cooling systems, water heaters, insulation, weather-stripping/ caulking, storm windows/doors or other energy efficient improvements approved by the lender and VA. These features may be added with the purchase of an existing dwelling or by refinancing a home owned and occupied by the veteran. A loan can be increased up to $3,000 based on documented costs or up to $6,000 if the increase in the mortgage payment is offset by the expected reduction in utility costs. Check with a lender¬†for details.
  • To refinance and take cash out up to¬†100% of the appraised value in some cases,
  • To refinance an existing VA loan to reduce the interest rate.
  • To buy a manufactured home.

VA home loan quotes are freely available

The VA home loan program is an excellent deal for active duty military personnel and non-active duty veterans. Take advantage of your benefits.

  • Loan Amounts Up to $417,000 and higher in some high cost areas.
  • 15, 25 or 30 Year Loan Terms
  • Up to 4% Seller Paid Closing Cost Allowed
  • No Mortgage Insurance
  • Allowed To Finance Up to $6000 For Energy Improvements

How can I obtain more information about VA home loans?

Contact us today with any questions.

Here are some links to additional information

Source: VA Handbook