Loan Programs

VA Loans

Home loans for veterans, service members and eligible surviving spouses.

VA loans are guaranteed by the U.S. Department of Veterans Affairs and are one of the strongest benefits available to people who have served. They have some of the most flexible down payment rules of any program and no monthly mortgage insurance.

Most borrowers pay a one-time VA funding fee, which can be financed into the loan. Veterans receiving VA disability compensation are generally exempt.

Options

VA options

VA purchase

Buy a primary residence with the VA home loan benefit.

VA streamline (IRRRL)

Lower the rate on an existing VA loan with less paperwork.

VA cash-out refinance

Refinance into a VA loan and take cash out of your equity.

Requirements

What lenders look for

1EligibilityVeterans, active-duty members, qualifying Guard and Reserve members and some surviving spouses. You'll need a Certificate of Eligibility, which Kam can help request.

2Credit historyVA sets no minimum score, but lenders set their own. Kam will find one that fits your file.

3Residual incomeVA checks that enough income is left each month after major expenses, based on family size and region.

4Primary residenceYou must plan to live in the home.

Benefits

Why borrowers choose it

No monthly mortgage insurance

VA loans don't carry the monthly mortgage insurance most other low down payment loans do.

Flexible down payment rules

Among the most flexible of any loan program for eligible borrowers.

Reusable benefit

Your VA entitlement can be used more than once over your lifetime.

Guidelines shown are typical and vary by lender. Loan approval, rates and terms depend on credit, income, property and lender guidelines. Program availability and requirements are subject to change. This is not a commitment to lend.

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