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Who Can Qualify for a VA Loan?

A VA loan is a mortgage option for all Veterans, Active Military, Service Members, Reserve Members, and select Military Spouses. Semper Home Loans has successfully completed thousands of VA loans. The VA Home loan was originally created back in 1944 by the US Government to help returning service members purchase their homes.

The VA Loan program is one of the best and most powerful in the business, but we find that a lot of our service members and veterans have NO idea of the benefits or even are aware of the program itself. Do you meet one of the following conditions: Served 90 consecutive days of active service during wartime, Served 181 days of active service during peacetime, More than 6 years of service in the National Guard or Reserves, You are a spouse of a service member who has passed away in the line of duty or as a result of a service related disability. VA loans require no down payment or private mortgage insurance.

Here is the low down:

  1. 1. No Down Payments

    Yes, no money down! Saving money when you just came home from serving overseas can be daunting, not to mention if you are active and are on the move every 6 months to a year. This loan takes the pressure of our service members and gives them the chance to nest without worrying about financing 20% of the home’s total value.

  2. 2. No Private Mortgage Insurance

    VA loans do not require the borrower to put down the traditional 20% or pay private mortgage insurance (PMI). PMI protects the lender if for some reason the borrower defaults on their mortgage. The federal government backs all VA loans and takes on all the risk on behalf of the borrower. This allows our service members to save more, build equity and save thousands over the life of the mortgage.

  3. 3. Exceptional Interest Rates

    The thought of an interest rate can be intimidating, especially if you have a lower credit score or a high debt to income (DTI) ratio. VA loan borrowers will typically qualify for lower interest rates than a conventional borrower. Sometimes up to 1% lower, which can save you thousands!

  4. 4. Flexible Terms

    VA loans through Semper are available in 15, 20, or 30-year terms. The VA program gives you the flexibility to design a loan that works for you and for your family. It is time you let Semper help you and your family get home faster!

See what you qualify for today by visiting https://semperhomeloans.com/MyVARate

Categories: VA Home Loans