We’re committed to helping veterans and active-duty service members achieve their homeownership dreams with 100% financing for purchases, and cash-out refinances on 1-4 unit properties. VA loans offer incredible advantages:
- 100% LTV Financing – Buy a home with no down payment required for purchases and cash-out refinances on 1-4 unit properties.
Credit & Reserves Requirements
- Late Payments Matter – If you’ve had more than one 30-day mortgage late payment in the last 12 months, an automatic manual downgrade will apply.
- Reserves for Rental Properties – If you’re using rental income to qualify for a 2-4 unit property, you’ll need 6 months of PITI (Principal, Interest, Taxes, and Insurance) reserves.
Condo Rules
- VA Approval Required – Only VA-approved condos are eligible.
- Age-Restricted Condos – Deed-restricted condos (such as “55 and older” communities) are permitted, but standard restrictions apply.
Co-Borrower & Ownership Rules
- No Non-Occupying Co-Borrowers – Only borrowers who will live in the home can be on the loan.
- Family Member Co-Borrowers – If you’re buying with a family member, prior approval from the VA Regional Center is required.
- Seller Ownership Requirement – The current seller must have held the title for at least one day before the contract is signed.
Bankruptcy & Foreclosure Waiting Periods
- 2-Year Seasoning – A Chapter 7 bankruptcy or foreclosure must be at least two years old with re-established credit.
Seller Contributions & Gifts
- Gifts of Equity Not Allowed – Sellers cannot provide equity as a gift.
- 4% Maximum Seller Concessions – Sellers can contribute up to 4% of the purchase price toward closing costs, prepaids, or other buyer expenses.
We specialize in veteran mortgage loans, to secure the best financing possible. Contact our team for a personalized consultation.
