Buy Your Dream Home With a VA Loan

What Is a VA Loan?

The VA loan is a $0 down mortgage option available to military Veterans, Service Members, and select military spouses. VA loans are issued by private lenders such as mortgage companies or banks and are guaranteed by the U.S. Department of Veterans Affairs (VA). VA loans are more affordable than any other home loan program available and rightfully so. If you served our country, you deserve a special mortgage opportunity in return for your service.

VA loans offer loan options that include no down payment, lower interest rates than conventional loans as well as other special loan terms offered exclusively for veterans and service members of the US military.

The VA Loan Process

In order to be eligible for a VA loan, you or your spouse must meet the minimum service requirements set by the Department of Veterans Affairs (VA). You or your spouse must also have a valid Certificate of Eligibility (COE) and meet the lender’s credit and income requirements.

You may be eligible for a VA loan by meeting one or more of the following requirements:

  • You served 90 consecutive days of active service during wartime.
  • You served 181 days of active service during peacetime.
  • You have 6 years of service in the National Guard or Reserves.
  • You are the spouse of a service member who is disabled as a result of a service-related incident or has died in the line of duty.

What Is a VA Loan

Why a VA Loan?

Benefits of applying for a VA Loan include:

  • 100% Financing with no loan limits restrictions up to $2 million.
  • No PMI: Save thousands of dollars over the life of your loan by not having to pay private mortgage insurance which is required on all FHA loans and conventional loans that are over 80% loan to value.
  • Competitive Rates: The VA backs your home loan and therefore Modern Lending can offer you competitive mortgage rates.  These rates are typically up to 1% lower than a conventional loan.
  • Easier to Qualify: The VA loan is a hard-earned job benefit created to expand access to homeownership for Veterans and service members and approval is not based solely on your credit score. Your entire financial status is reviewed which allows for more flexible and forgiving credit underwriting guidelines. For example, if you have consistently paid your bills on time within the last 12 months and have over a 580 credit score you can qualify.
  • 100% LTV Cash-Out Refinance: Veterans who qualify for a VA loan may be eligible to access the equity in their home to pay off debts, make large purchases, complete home improvements, travel, invest or just simply save for a rainy day.

GET A COPY OF YOUR VA CERTIFICATE OF ELIGIBILITY NOW

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Why a VA Loan?

Your Home Loan Could Be Fully
Funded 21 Days From Now

  • fixed rate
    mortgage

  • Adjustable Rates Mortgage
    (ARM)

  • Conforming
    loans

  • jumbo and super
    jumbo loans

  • FHA, VA, &
    USDA Loans

  • Terms from
    5 to 30 Years

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