A VA loan is a type of mortgage loan that is guaranteed by the U.S. Department of Veterans Affairs (VA). These loans are designed to help veterans, active-duty service members, and certain surviving spouses purchase a home. One of the biggest benefits of a VA loan is that it does not require a down payment, which can make it easier for veterans and military families to become homeowners. Additionally, VA loans have more lenient credit and income requirements than conventional loans, and they typically have lower interest rates. However, there are some restrictions on who is eligible for a VA loan, and certain types of properties (such as vacation homes) are not eligible for financing through this program.

If you’re thinking about applying for a VA loan, it’s important to research the program and understand the terms and conditions. You’ll need to provide proof of your military service, and you’ll need to meet certain income and credit requirements. Additionally, you’ll need to find a lender that participates in the VA loan program. A good place to start is the VA’s website, which has a lot of useful information about the program and a list of approved lenders.

In Washington State, you can request either the lender or seller to pay your  VA closing costs.  There is also a hybrid option to have both the seller and lender pay your VA closing costs.

If you have any specific VA home loan questions, don’t hesitate to reach out to Kevin at 253-472-1500 (evenings and weekends OK).  With over 36 years of VA lending experience as a mortgage broker in Washington State, I can help you from start to finish.  Our goal is always a 5 star experience, low rate and closing costs.  We can provide a no credit pull rate quote if you are shopping for a lender for your VA loan.  www.vahomeloans.com.