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va-loanVA guaranteed loans are made to eligible veterans for the purchase of a home which must be for their own personal occupancy.  With a loan approval, VA will guarantee a portion of the loan to the mortgage lender.

This guaranty protects the lender against loss up to the amount guaranteed and allows a veteran to obtain favorable financing terms.  A veteran still has to be qualified for their income and credit for the asking price of a purchase. 100% financing is subject to Veteran’s eligibility.

VA Loans offer the following important features:

  • Equal opportunity for all qualified veterans to obtain a VA loan
  • No down payment (unless required by the lender or the purchase price is more than the reasonable value of the property).
  • Buyer informed of reasonable value.
  • Negotiable interest rate.
  • Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5% and exemption for veterans receiving VA compensation).
  • Closing costs are comparable with other financing types (and may be lower).
  • No mortgage insurance premiums.
  • An assumable mortgage.
  • Right to repay without penalty. VA assistance to veteran borrowers in default due to temporary financial difficulty.
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4230 Lyndon B Johnson Fwy #626, Dallas, TX 75244
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a dba of Thrive Mortgage, LLC. 268552