VA (Veterans Affairs) Loans

VA loans are one of the best and safest methods for military home buyers to get a loan. Those who are serving or have served in the military including, the Army, Navy, Air Force, Marines, Reserves and National Guardsmen, are eligible to take advantage of this program. If you are a Disabled Veteran, you may qualify for additional benefits with a VA home mortgage loan. A VA loan allows veterans to borrow a sizable amount of money.


The loan limit is dependent on the county, however, in LA, borrowers can borrow up to $625,500 with no money down. Moreover, there is no limit to the number of times a veteran may use the program. If you are a veteran or are currently serving in the military, make sure you take advantage of what a VA loan has to offer.

What is an VA Loan?

In 1944, the US government created a military loan guaranty program to help returning service members purchase homes. The VA loan is a mortgage loan issued by qualified lenders and guaranteed by the US department of Veteran Affairs. It was designed to offer long-term home financing for American veterans, or their spouses,  helping them purchase properties with no down payment and competitive interest rates.


The VA offers excellent qualifying standards. The VA does not use credit scoring in their analysis of the loan. If your score is low, but you have maintained a good payment record over the past year or so, you may qualify for a VA mortgage loan. This can be a tremendous savings compared to the cost of conventional loans.


Veterans will need to provide a Certificate of Eligibility which can be downloaded from the Veterans Administration Website. The Certificate of Eligibility is an important part of the application process, since it proves your status as a veteran and certifies that you are eligible to apply for a VA loan.


Borrowers do not have to meet an income threshold however, VA loan applicants will be expected to show a reliable income that will cover monthly expenses, including the mortgage payment. Because VA loans are financed through private lenders, borrowers must often satisfy additional requirements depending on the lender. Our loan officers will help you understand all the requirements you need to fulfill so you can qualify for a VA loan.


The most impressive benefit of getting a VA loan is that qualified borrowers can get a sizable chunk of cash with no money down. Also, since VA loans are government backed, lenders do not require borrowers to pay for mortgage insurance, freeing up monthly income for borrowers. Competitive interest rates, as well as less stringent qualification standards, make the VA loan ideal for borrowers who qualify.

More questions?

If you are interested in finding out if a VA loan is right for you, please contact us or fill out our pre-approval form so one of our experienced loan officers can help you evaluate your loan options.

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