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What types of VA loan programs are available for service members and veterans? This section provides a rundown of what you can use your VA loan for -- everything from refinancing your mortgage to purchasing a second home.
The best part about a VA loan program is that it typically does not require a down payment. There are specific limits based on which area you live in. For most of the country, it's $484,350. In high-priced areas such as New York City, Honolulu and San Francisco, the limit can reach $726,525. See the full list of VA loan limits by city.
In addition to 0% down for your VA loan there are programs that allow you to buy more than one house, take out equity, or finance your remodeling. There are also VA loans with no minimum credit score. Because these loans are backed by the VA, they do not require PMI, or private mortgage insurance, which can save you thousands of dollars over the life of your loan.
If you're ready for specifics on your VA loan prospects, the first step is to get personalized, no-obligation rate quotes from up to five lenders - no credit check required.
VA Loan Types: Overview
Refinance Your VA Loan To Get Cash Or Lower Your Interest Rate
You can refinance your VA loan for many reasons.
Cash-out Refinance Program: Details
With the cash-out refinancing program, you can refinance your current loan, whether it's a VA-guaranteed mortgage or not.
VA's Interest Rate Reduction Program
The Interest Rate Reduction Loan is an easy way to lower you mortgage payments.
The VA Jumbo Loan
You can use your VA home loan benefit to buy a "jumbo" property but it takes a little calculation first.
Breaking Down the VA Hybrid Loan
Once you decide on a term, you then choose an interest rate option. But there's one other important choice: fixed or adjustab...
Should You Pay Down Your Mortgage Principal?
Even if you don't have a large amount of money to pay, it can be a good thing to pay off your loan with just a little extra e...
VA Streamline Refinance Offers: A Personal Experience
A member of the U.S. Marine Corps recounts his experience getting a VA streamline refinance loan, and offers an inside look a...
VA Loan Types: More Information
VA Loan Topics
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Featured VA Loan Articles
IRRRL Facts for Veterans
IRRRL stands for Interest Rate Reduction Refinancing Loan,also known as a "Streamline" or a "VA to VA" loan.
VA Loan Limits for High-Cost Counties: Updated for 2019
The VA loan limit for 2019 is $484,350, but it could actually be more in high-cost counties
Get the FAQs on VA Home Loans
These VA Home Loan FAQs ensures Military.com members are fully prepared to take advantage of this exclusive benefit.
VA Loan Closing Costs: An Added Benefit
A distinct advantage of using your VA loan is that you may not have to pay some of the additional fees normally paid at closi...
Step-by-Step Guide to the VA Loan Process
For many borrowers, applying for any kind of mortgage may seem daunting. But, when broken down, this rundown of 6 steps to ge...