Fixed Rate Loans
30-, 25-, 20-, 15- and 10-year terms are all available with fixed rate.
Buy a home with as little as 5% down (primary home).
Refinance up to 95% of your primary home's value.
Monthly payments remain the same for the entire loan term.
Adjustable Rate Loans
3/1, 5/1, and 7/1 ARM's. Monthly payments based on a 30 year repayment schedule.
Provides veterans with flexible lending options and loan security.
The rate stays fixed for the first 3, 5, or 7 years (depending on chosen term), and then adjusting annually thereafter.
3.50% down payment required on purchase.
Minimum credit score usually 620.
Post-bankruptcy qualifying - 2 years after.
Post-foreclosure qualifying - 3 years after.
Competitive interest rates that are routinely lower than conventional rates.
Sellers can pay up to 6 percent of closing costs and concessions.
Higher allowable debt-to-income ratios than for many other loans.
0% down payment required on purchase.
Reverse Mortgage Loan
Specialized loan for seniors 62 and older.
A reverse mortgage allows seniors to access a portion of the equity in their home.
No Monthly Mortgage Payments Ever
Borrowers maintain title and ownership of their home.
Borrower must continue to pay for taxes and insurance, home maintenance, and otherwise comply with the loan terms