If you’re a qualified U.S. veteran, then a VA Loan may be exactly what you need to get you into the home of your dreams. With the option for no down payment and favorable terms, VA Loans are guaranteed by the Veterans Benefits Administration (VA). There are several loan programs for vets, so be sure to ask your Peak Mortgage advisor which is best for your situation.This type of loan may help qualified active duty service members, reservists, veterans, and their spouses get the home of their dreams with zero down payment requirements.
VA Loans are especially attractive to…
- U.S. veterans and their families looking to buy or refinance their primary residence
- Homebuyers with low to moderate income levels
- Buyers with limited funds for down payments
No down payment options
Qualified U.S. veterans may be able to receive financing for the entire loan amount.
No penalties for prepayment
VA Loans do not have any penalties for early payments.
No mortgage insurance requirements
The Veterans Benefits Administration does not require monthly mortgage insurance. However, a funding fee is generally required for transactions.
Options for Fixed and Adjustable Rate Mortgages
Borrowers have options for both fixed and adjustable rates.