Looking for a VA Loan?
Check out the information below and let us know if we can help
What is a VA Loan?
Here at Millenial Mortgage, we are proud to help our Service Members and Veterans achieve the American Dream of Home Ownership.
VA home loans are backed by the Department of Veterans Affairs (VA) provide affordable home financing options for eligible Service Members, Veterans and surviving spouses.
You’re qualified for a VA Loan, if you’ve:
- Served 90 consecutive days of service during wartime
- Served 181 days of service during peacetime
- More than 6 years of service in the National Guard or Reserves
- You are the spouse of a service member who died in the line of duty or received an honorable discharge
VA Loan Highlights
- 100% financing with full VA entitlement - A down payment is required if the borrower does not have full VA entitlement
- Government backed loan
- Fixed-and adjustable-rate mortgages
- Jumbo loans qualify – any loan limit larger than the established conforming County Loan Limit
- Primary residence
- Competitive interest rates and low monthly payment
- No prepayment penalties
- Seller concessions allowed
- Closing costs are required and cannot be rolled into the loan, however, a lender credit, if available, may offset these fees so your only out of pocket would be for earnest money and home inspection
- VA funding fee is required and can be “rolled” into the loan amount; no funding fee if 10% or more disabled or have been awarded a purple heart
- Variety of eligible property types, including single family home, duplex, manufactured home, townhome and condo
- Can have more than one VA loan if you have remaining eligibility
Loan Programs
