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  • Buy a Home With A VA Loan

  • PURCHASING A HOME IN MN, WI, or SD with a VA Loan

    If you're like most people, purchasing a home is probably one of the biggest investments you'll ever make in your lifetime. If you're considering buying a home, you're likely aware of the complexity of the endeavor.

    If you are active or retired military, you have special VA home loan benefits.

    A VA loan allows our military personal to buy a home with ZERO DOWN PAYMENT. You can finance 100% of the homes purchase price for loans up to $484,350.

    Currently a small down payment is required for VA loans OVER $484,350, but that is changing as of July 2019 - Read more

    Now more than ever, banks are requiring bigger and bigger down payments, with expensive mortgage insurance. This puts home ownership out of the reach of many home buyers.

    Because of the numerous factors to consider when purchasing a home, it's important to prepare as best you can. At Mortgages Unlimited, Inc, we are dedicated to finding the loan that fits your individual needs .

    VA loans have very similar underwriting guidelines to just about all other loans. You will need to prove your income, and assets. You will need to have stable employment. 


    VA loans are very liberal with credit score requirements compared to other home loans, and technically allow for a credit score as low as 500. But understand, that the lower your credit score, the harder it will get to be approved. Below about 620 is where you start seeing it get harder and harder.

    As your credit score drops, especially under 580, a small down payment may help to get an approval.


    VA Loans also require the lender to verify your VA eligibility with a current VA Certificate of Eligibility ( COE ).  We find that most people don't know where their certificate is.  No problem, we can usually get it for you in just a few minutes.  Click here to learn more about your VA Certificate of Eligibility for loan in MN, WI, and SD.


    While VA loans are zero down payment, all mortgage loans, including VA loan have closing costs. These costs cover the many different people and costs associated with obtaining, processing, and closing your loan. 

    Some of these items including origination fees, appraisal, credit reports, state deed transfer taxes, and title companies fees.

    Your closing costs can be paid four different ways:

    • Cash out of your pocket
    • Rolled into the loan (known as seller paid closing costs)
    • Rolled into a slightly higher interest rate
    • A combination of any or all of these options (most popular)

    Between all these options, most of our home buyers using a VA loan end up buying their new home with very little, to no out-of-pocket costs whatsoever.

    How cool is that? Learn more on VA loan Closing Costs


    • No Mortgage Insurance (this is a HUGE saving over other loans)
    • Easier qualifying
    • Seller can pay your loans closing costs
    • Zero down payment up to $484,350 loan amount (in MN, WI, SD)
    • Small down payment over $484,350 loan amount