VA Purchase Loans
VA loans are guaranteed by the U.S. Department of Veterans Affairs. The guaranty allows veterans and service persons to obtain home loans with favorable loan terms, which terms include zero down payment requirements and no mortgage insurance.
The basic requirements for a VA Purchase Loan are:
– 620 median credit score
– Borrower must be eligible for VA benefits
– Satisfactory documented income
– Property may not have more than 4 units
VA loans are guaranteed by the U.S. Department of Veterans Affairs. The guaranty allows veterans and service persons to obtain home loans with favorable loan terms, which terms include zero down payment requirements and no mortgage insurance.
The basic requirements for a VA Purchase Loan are:
– 620 median credit score
– Borrower must be eligible for VA benefits
– Satisfactory documented income
– Property may not have more than 4 units