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VA Loans (Veterans Administration Loans)

Happy Children After Their Parents Bought a House with a VA Loan

A VA Loan is Designed to offer long-term financing to veterans. Veterans, active duty military, and their surviving spouses are eligible for VA loans. VA mortgage loans are issued by federally qualified lenders and are guaranteed by the U.S. Veterans Administration. The VA determines eligibility and issues a certificate to qualifying applicants to submit to their mortgage lender of choice. It is generally easier to qualify for a VA loan than conventional loans.

The VA also offers more than just purchase loans. You can get VA-backed refinancing and cash-out refinancing as well.

To determine eligibility, you can apply for a Certificate of Eligibility with the VA. For active duty members, you must have served for 90 continuous days currently. For veterans, the time served requirement is determined by what years you were active duty in the military.

Key Benefits of VA Loans

There are several benefits to a VA Loan. They are backed by the Department of Veterans Affairs, so lenders view these loans as less risky. Because of this:

    -VA Loans offer 0% down payment options.

    -You can be approved even if you have less than stellar credit.

    - You can also avoid paying Private Mortgage Insurance (also known as PMI,) which can add hundreds to your monthly mortgage payments.

    -You can also end up with lower closing costs and interest rates.

    -VA loans also offer no prepayment penalties.

    For more information on VA Loans, please visit the Veterans Administration’s website at www.VA.gov.

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CTC Mortgage

(561) 983-6413

4803 PGA Boulevard
Suite B
West Palm Beach, FL 33418

NMLS # 371182


Equal Housing Lender