Know Your VA Loan Options

 

Created in 1944 to help returning service members purchase homes, the VA Loan is a mortgage loan that is issued through approved lenders such as Sirva Mortgage. Since its inception, the VA Loan program has helped over 22 million veterans and their families finance their home purchase.

This program offers a tremendous benefit to eligible veterans, offering loans with 100% funding, low rates, and no private mortgage insurance requirement.

 

VA vs. Conventional Loans

 VAConventional
No Down Paymentcheckmark
Low Credit Scorecheckmark 
Mortgage Insurance**
checkmark
Easier Underwriting Guidelinescheckmark 
Relaxed Property Standards checkmark

**Conventional loans require Mortgage Insurance when you put less than 20% down.

VA Interest Rate Reduction Loan (IRRRL)

Borrowers that have a VA Loan that is greater than 6 months old and would like to refinance may be able to take advantage of a VA Interest Rate Reduction Loan (IRRRL). A VA IRRRL may be a convenient way that you can take advantage of lower interest rates and decrease your monthly mortgage payment over the life of your loan.

The advantages of a VA Interest Rate Reduction Loan (IRRRL) include:

  • No home appraisal is required
  • No paystubs, bank statements or verification of employment is required
  • No credit score requirements
  • Reduced Funding fee that’s just 0.50% of the new loan amount

Talk to one of our professional Mortgage Consultants today to learn about which mortgage option is right for you!

Questions? Need advice? We're here.

For more information about our mortgage rates or financing options connect with us today.
Contact Us
calculator icon
Looking to see how much you can afford or just estimate the payments on your new home? Our calculators can help guide your next big decision!
Start Calculating

Join WeSalute today

WeSalute, founded as Veterans Advantage, is your one-stop shop for military and veteran discounts, benefits and community support. Focused on delivering new benefits for all who serve our country, enrollment in WeSalute is open to those who have served in any branch of service, as well as their “next of kin” family members, including the spouse, son/daughter, and father/mother.


WeSalute members who subscribe to WeSalute+ for exclusive benefits receive an unmatched benefits package which includes low-cost insurance coverage, a drug discount program and savings on airlines, hotels, dining, entertainment, prescription drugs, computers, electronics, fitness centers, wireless services, moving services, health, flowers, gifts, convenience stores and more from some of the nation’s largest retailers and leading travel providers.


Enroll in a 30-day trial of WeSalute+ from WeSalute now and discover these special benefits.