VA House Loan

If you are eligible for military financing then you should consider a VA house loan because these are the best mortgages available in the market-place today. There are no VA house loan limits set by the Department of Veterans Affairs. However most lenders follow the conforming limits allowed specifically by county. If the borrower has exceptional qualifications, there are jumbo loan amounts approved in high cost regions around the country. However the VA requires a 25% down payment on any amount over your county limit.

In most cases there is no down-payment requirement with VA house loans. Yes! That means 100% financing is available for first time home buying. Yes that means that even VA borrowers with no equity can get 100% refinancing. In many cases, the VA will waive the appraisal requirements.

Another advantage with military financing is that the lenders are typically more forgiving when it comes to assessing the loan applicant's credit compared to conventional loan companies. There is no minimum credit score requirement with a VA housing loan and no monthly mortgage insurance is ever required.