For many veterans and active-duty service members, VA financing remains one of the most powerful home loan benefits available. With no monthly mortgage insurance, competitive interest rates, and financing options that can reach 100% loan-to-value, VA loans continue to help eligible borrowers achieve homeownership with less money out of pocket. We offer VA financing solutions that can accommodate credit scores as low as 580.
100% Financing for Purchases and Cash-Out Refinances
Eligible veterans may qualify for up to 100% financing on home purchases as well as cash-out refinance transactions on 1-4 unit properties. This can be an attractive option for veterans looking to purchase a primary residence without a down payment or access equity from an existing property while preserving cash reserves.
Expanded Opportunities for Veterans
- FICO scores down to 580
- Up to 100% LTV for purchases
- Up to 100% LTV for cash-out refinances
- Financing available on 1-4 unit owner-occupied properties
- Competitive fixed-rate options
- No non-occupying co-borrowers permitted
- Seller concessions limited to 4%
Important VA Guideline Considerations
Mortgage Payment History Matters – Loans are subject to an automatic manual downgrade when the borrower has more than one 30-day mortgage late payment within the most recent 12 months.
Reserve Requirements for Multi-Unit Properties – When rental income is used to qualify on a 2-4 unit property, six months of PITI reserves are required.
Condo Approval Requirements – Only VA-approved condominium projects are eligible. FHA approval alone does not satisfy VA condominium requirements. Additionally, deed-restricted condominiums are limited to projects designated for residents who are 55 years of age or older.
Co-Borrower Restrictions – Non-occupying co-borrowers are not permitted under these guidelines. Family member co-borrower arrangements, other than a spouse or married veteran, require prior approval from the appropriate VA Regional Loan Center.
Property Transfer Requirements – The current seller must have held title to the property for at least one day prior to the execution of the purchase contract.
Bankruptcy and Foreclosure Seasoning – Borrowers must meet a two-year seasoning requirement following a Chapter 7 bankruptcy or foreclosure before becoming eligible.
Gifts of Equity Not Permitted – Gift-of-equity transactions are not allowed under this program.
Contact us for more information.
