VA Loan

 Veteran affairs Loans 

What are veteran affairs (VA) loans?

If you have served or are serving in one of the branches of the US Military (Army, Navy, Air Force, Marines, Coast Guard, Space Force), the Department of Veterans Affairs back special mortgage loans you may be eligible for.

There are three types of VA loans:

Purchase loans – Loans to purchase a new home

Interest Rate Reduction Refinance Loans (IRRRL) – For those with an existing VA loan who wish to refinance to lower their payment.

Cash-Out Refinance Loans – For those who wish to take equity out of their home. Can have any type of existing mortgage to participate (or no loan on property at all.)

The benefit of VA loans is they can be obtained with a higher loan-to-value and they have interest rates that are lower than other comparable programs.

To qualify, a borrower needs a credit score of 620 or higher.

There are conforming VA loans (below $548,250 but in some areas above $822,375.)  and Jumbo VA loans (loans above those amounts. Require a credit score of 640 and make a down payment.)

Let us help you find the best loan program for your unique situation


MLO Kevin Wenke NMLS #1910000
Mortages Provided by Freedom Mortgage NMLS Lendor #2767