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  • Tel: (651) 552-3681
    Email: Loans@VAMortgageMN.com

  • VA loan benefits are better than ever

  • VA loan benefits are better than ever

    The VA has recently announced additional benefits for veterans seeking a home loan, making the program even better.

    New VA Loan Benefits Include: 

    •  Higher Loan Amounts with NO Down Payment – Veterans will have greater access when using their no-down payment home loan benefit.  The VA no longer follows conventional loan limits and will now allow all loan sizes. Previously loans over the conventional loan limit required a small down payment of about 5%.
    • Purple Heart – If you are an active duty Service member who has earned a Purple Heart, your funding fee can be waived if you close on your home while still serving on active duty.
    • Native American Direct Loan – The new law removes the loan limit of $80,000 for Veterans using their entitlement for a VA Native American Direct loan to build or purchase a home on Federal trust land.  Eliminating the loan limit enhances access to home loan benefits for Native American Veterans.

     Additional benefits of a VA Home Loan:

    • No first-time homebuyer education requirements ever
    • No income limits
    • No mortgage insurance ever – regardless of down payment size
    • We will consider credit scores as low as 580
    • No origination fee option (up to 1% of loan amount)
    • No appraisal fee on VA streamline refinances (IRRRL Loan)

    Take advantage of your hard earned VA Home Loan Benefits with a VA Loan from Veteran friendly Cambria Mortgage

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