Military Home Loan Program (VA)
A loan just for military personnel
If you or your spouse has served or is currently serving in the military, you may be eligible for our Military Home Loan Program, which is backed by the U.S. Department of Veterans Affairs (VA). VA home loans come with lots of security and extra benefits, including a no down payment requirement for eligible applicants.
Because this loan is backed by the VA, eligible applicants may qualify for no down payment. Likewise, these loans require no mortgage insurance. This will save you money when you first buy the house and in every month you're not paying for mortgage insurance.
The VA has rules limiting how much you can be charged at closing, to help keep fees manageable for everyone. And, the closing costs may be paid by the seller, saving you even more money if that applies to you.
When you're buying a home, lenders don't look just at your income, assets, and the down payment you have. They look at all of your liabilities and obligations as well, including auto loans, credit card debt, child support, potential property taxes and insurance, and your overall credit rating. Use our home affordability calculator here to determine how much of a mortgage you may be able to obtain.
Apply with our online application. It walks you through the process and allows you to submit documents securely using your phone, tablet or computer. You also get 24/7 access to your loan in progress and a direct line of communication with your loan officer to make sure your loan stays on track for closing!
After your application is completed, your mortgage banker will contact you to answer any questions you may have and request items if they need additional documentation.
Once everything is finalized, we'll send you the application package. This package will contain papers for you to sign and a list of items we'll need to verify the information you provided about your finances during the online application.
We'll also order an appraisal from a licensed appraiser who is familiar with home values in your area.
You'll also need to obtain title insurance. If you are purchasing a new home, we'll work with the real estate broker or seller to ensure the title work is ordered as soon as possible. If you are refinancing, we'll take care of ordering the title work for you.
After we receive all your paperwork — your application package, the appraisal and the title work — we'll contact you to schedule your loan closing. If you are purchasing a home, we'll also schedule the closing with the real estate broker and the seller.
The closing will take place at the office of a title company or attorney in your area who will act as our agent. A few days before closing your Mortgage Banker will contact you to walk through the final information.