EMPIRE WEST MORTGAGE LENDING

VA Loans

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A VA loan is a mortgage program backed by the U.S. Department of Veterans Affairs, created to support active-duty service members, veterans, and eligible surviving spouses in achieving homeownership. With no down payment requirements, no private mortgage insurance (PMI), and highly competitive terms, VA loans offer some of the most favorable benefits available in the mortgage industry.

This program honors military service by providing affordable and flexible financing options designed to promote long-term financial stability.

 

Key Advantages of VA Loans

• No Down Payment: Qualified borrowers can finance 100% of the home's purchase price, eliminating the need for a down payment.

• No PMI: VA loans do not require private mortgage insurance, reducing the overall monthly payment.

• Competitive Interest Rates: Because the VA guarantees a portion of the loan, lenders often offer lower-than-average rates.

• Flexible Credit Standards: Borrowers with less-than-perfect credit may still qualify.

• Limited Closing Costs: The VA restricts certain fees, helping reduce upfront expenses.

• Assumable Loans: VA loans can be assumable, potentially offering financial advantages when selling the property.

• Refinance Options: Includes both Interest Rate Reduction Refinance Loans (IRRRL) and cash-out refinancing.

 

Who Is Eligible for a VA Loan?

VA loans are available to:

• Active-duty military personnel

• Veterans

• National Guard and Reserve members

• Eligible surviving spouses

Eligibility is based on service history, length of service, and certificate of eligibility (COE) requirements.

 

Why Choose a VA Loan?

For eligible borrowers, VA financing is often the most cost-effective path to homeownership. With zero down payment, no PMI, and lower monthly payments, this program provides exceptional long-term value and supports military families with the benefits they have earned.