VA Mortgages

Similar to traditional loans, there are credit score requirements to get approved for a VA home loan. Credit score is important but it’s not the only factor. Call 757-877-2444 to discuss your options with one of our experienced mortgage professionals.

With a VA home loan, you may be eligible for lower interest rates and better loan terms than you’d normally qualify for. Although rates still depend on your credit score and other factors, you can get an idea of what to expect by viewing our loan rates.

VA loans are for active duty and veteran members of the military, as well as their spouses. Civilians who are or have not served in the military are likely not eligible for this program. To check your eligibility, call one of our VA home specialists at 757-877-2444.

When using a VA home loan, you will be responsible for the closing costs associated with your home purchase. That means the closing costs will factor into the out-of-pocket costs for purchasing your home. These costs typically add up to 1-5% of the loan amount.

Just like any loan, there are many factors that come into play during the VA loan process. Ultimately, each person is in a unique situation that dictates how the loan gets managed.

With that said, common reasons that prevent or delay VA loans from being approved include: missing files and paperwork errors, employment changes, major purchases made during the process, and military status. Call us at 757-877-2444 to check your VA loan eligibility.

Yes. Despite the myth that VA loans take a long time to close, the truth is they’re not far off from the overall average. According to Military Times, the average time to close for all loan types is 46 days. Compare that to 49 days-on average for VA loans. Like traditional loans, the cost of the home and other factors impact how long it will take you to close on your home.

With some exceptions, VA home loans are not one-time use options. You can continue to take advantage of the U.S. Department of Veterans Affairs program for additional homes after you’ve used it the first time. To get the process started, contact us at 757-877-2444.