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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
We are not acting on behalf of, or under the direction of the VA or the Federal Government. The Veterans Administration does not lend directly to the public, only through approved lending institutions like us here at Cambria Mortgage.
The Department of Veteran Affairs requires mortgage companies who offer VA Loans go through a stringent approval process. We are proud tp a VA approved mortgage lender and are proud to help military families use their VA Loan Benefits.
Equal Housing Lender, Cambria Mortgage NMLS# 322798. Our lending services provided only in the following states: Minnesota, Wisconsin, Iowa, North Dakota, South Dakota, Colorado, and Florida. This is not an offer to lend or to extend credit, nor is this a guaranty of loan approval or commitment to lend. The information here may not be up-to-date and may no longer be accurate. Products and interest rates are subject to change at any time due to changing market conditions. Actual rates available to you may vary based upon a number of factors. Consumers must independently verify the accuracy and currency of available mortgage programs. All loan approvals are subject to the borrower(s) satisfying all underwriting guidelines and loan approval conditions and providing an acceptable property, appraisal and title report. © 1998 - 2024, Joe Metzler, NMLS 274132
