For Military Members and Veterans
No down payment required for a VA Loan offered to qualifying military members and Veterans.
Backed by the U.S. Department of Veterans Affairs, VA Loans are only available to eligible military members and Veterans. No down payment is required and this loan features flexible income and credit qualifications. While VA Loans do have an upfront VA funding fee, this fee may be rolled into the loan amount. Also, no monthly private mortgage insurance (PMI) is required, so this allows for a lower total monthly payment.
Features of VA Loans
- No down payment required
- Down payment and closing and prepaid costs may be paid funded by a gift from a relative or a qualified non-profit grant
- No monthly private mortgage insurance (PMI)
- Flexible income guidelines
- Disabled Veterans may be partially or fully exempt from the VA Funding Fee
- May qualify for a streamlined refinance with no appraisal required and a lower funding fee
Consideration Points for Borrowers
- Eligible military members or Veterans
- Little savings or little equity
- Less than perfect credit
- Currently have a VA Loan and wish to refinance
For more information, give Finofi a call at (717) 249-7500. Our expert mortgage advisors are ready to answer your questions and would love to work with you!
