VA specific loan programs

Post date: Jan 28, 2013 7:15:5 AM

VA Loan Program

The Department of Veterans Affairs (VA) was established on March 15, 1989, succeeding the Veterans Administration.  It is responsible for providing federal benefits to veterans and their dependents.  

In 1944 the original GI Bill was established which enabled the Department of Veterans Affairs to guarantee home loans for Veterans.

All Loan Programs are offered with the best daily interest rates. 

Each program is a 30-year fixed rate mortgage. 

Standard closing time for each program is 4-6 weeks.

The VA Loan Program is $0.00 down, 100% Financed, No MI/MIP, 

and a 640 minimum credit score.   What this means to you as the home buyer is: 


     1) The only cash you may need is for your Earnest Money (which you provide to your realtor at the time your Purchase Contract is accepted.) 

      2)  Appraisal Fee (Fixed fee of $350.00) collected at the time you have an accepted purchase contract. 


These two items (earnest money + $350) will be refunded to you after closing because they are included in your loan.  So, if you had to pay $100 in Earnest Money and the fixed $350 for the appraisal, after you close on the house, you would receive a check for $450.00.