VA Home Mortgage Loans
Lenders Nationwide offers borrower’s premium government loan products, including fixed-rate and adjustable-rate mortgage options for VA eligible borrowers.
Find a Local Broker or Mortgage Lender in your neighborhood! Search for lenders and shop interest rates with the top home mortgage lenders online. Get free VA quotes for mortgage refinance and with programs for bad credit, rate and term, debt consolidation and cash out.
VA Government loan products are an alternative to nonprime and conventional home financing for homebuyers who qualify for homeownership based on flexible qualifying guidelines:
- No income restrictions (Stated or Full-Doc options)
- Bad-Credit loans are often allowed
- Larger share of income qualifies towards the monthly payments
Our FHA Government products are ideal for first-time homebuyers and also homeowners looking to move into a larger home or to refinance into a more favorable rate.
VA Loan products offer borrowers:
- No Money Down payment option
- Down payment assistance programs
- Simple loan guidelines
- 100% home financing
- No appraisal required
- Streamlined refi process
- VA products offer most active duty personnel, reservists, and veterans:
- No down payment option
- Limited closing costs
- Streamlined process
VA Mortgage News
There is a proposal currently pending before the House Veterans’ Affairs Committee. The financing proposal would allow the Veterans Affairs Department to provide a home equity conversion mortgage, or HECM, to U.S. veterans. Under the plans, sponsored by Rep. Michael Michaud (D-Maine), veterans age 62 and older could receive monthly payments from the VA that would be based on how much equity they have in their home and how long they would like to receive monthly payments. The payments would have to be repaid, with a fee, when the home is sold either by the veteran or by survivors.
Opponents say the bill does not provide anything that the existing Federal Housing Administration loan program doesn’t. Keith Pedigo, the VA’s loan guaranty service director, said the FHA program may be better, he said, because it fully insures lenders against “all losses,” while the VA only guarantees a percentage of a mortgage, generally one-quarter of the full amount.
Also, the reverse mortgage bill does not coincide with the original purpose of the VA home loan program, which is to provide home ownership opportunities for veterans and active-duty service members.