VA Loansleft

VA guaranteed loans are made by lenders and guaranteed by the U.S. Department of Veteran Affairs (VA) to eligible veterans for the purchase of a home. The guaranty means the lender is protected against loss if you fail to repay the loan. In most cases, no down payment is required on a VA guaranteed loan and the borrower usually receives a lower interest rate than is ordinarily available with other loans.


Other benefits of a VA loan include:

  • Negotiable interest rate.
  • Closing costs comparable - and sometimes lower - than other financing types.
  • No private mortgage insurance requirement.
  • Right to prepay loan without penalties
  • Mortgage can be taken over (or "assumed") by the buyer when a home is sold.
  • Counseling and assistance available to veteran borrowers having financial difficulty or facing default on their loan.


Although mortgage insurance is not required, the VA charges a funding fee to issue a guarantee to a lender against borrower default on a mortgage. The fee may be paid in cash by the buyer or seller, or it may be financed in the loan amount.


A VA loan can be used to buy a home, build a home and even improve a home with energy-saving 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.


Veterans can apply for a VA loan with any mortgage lender that participates in the VA home loan program. A Certificate of Eligibility from the VA must be presented to the lender to qualify for the loan.






The 2 Minute Quick and Easy Pre-Qualification!

Take 2 minutes to fill out all the questions below, tell me what you think I need to know. Maybe what mortgage program you want, if you need down payment help, what you want in a mortgage. I will take your information and conduct a thorough analysis and provide you with answers to your questions. I will email you with my assessment of your individual situation. I will provide you with that assessment within 1 to 2 business days of receiving your information. If you have any questions please call me at 314-913-9678 I will follow up with my answers as quickly as possible. Thank you Bob Rutledge

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