Benefits of a VA Home Loan
$0 Down Payment Required
Flexible Debt to Income Ratio
Flexible Credit Guidelines
Competitive Mortgage Interest Rate
VA Loan Benefits Can Be Used Multiple Times
Veterans Can Have More Than One VA Loan at a time
No Pre–Payment Penalty


VA Home Loan Requirements
What can a VA loan be used to buy?: Primary residence purchases only
Maximum Loan Amount: $275,665 (for single family home in Fayette County, KY)
Down Payment Requirement: 0% of the purchase price
Available Loan Terms: 5yr or 7yr ARM, 15 and 30 year fixed mortgage
Is Monthly Mortgage Insurance Required?: No
Are there property Eligibility Requirements: Yes
Income Eligibility Requirements: No minimum or maximum income limits
Maximum Debt to Income Ratio: Contact us for more information
Minimum Required Credit Score: Contact us for more information
Are Seller Paid Closing Costs allowed: Yes


VA Funding Fee
Most veterans pay an insurance premium called the VA Funding Fee (see exception below) as a part of their VA home loan. This fee allows the VA to continue insuring VA home loans.
The Funding Fee charged depends upon several factors. They included the veterans level of service, the type of transaction (purchase or refinance), how many times the veteran has used their VA mortgage benefits, the veteran’s disability status with VA and the down payment the veteran makes on a purchase.

Important Funding Fee Exemption:
When the VA considers a Veteran disabled they are exempt from paying a funding fee.


Official VA Website