A VA loan is a mortgage loan guaranteed by the U.S. Department of Veteran Affairs (VA) that is available to most US service members. It offers some very great benefits to those that have served our country.
As a rule of thumb, almost all active duty or honorably discharged service members are eligible for a VA home loan.
If you’re thinking about buying a home in Glen Allen or Richmond, VA, knowing the VA loan rates today can help you make a smart move. Rates can change daily depending on the market, but VA home loans often offer some of the lowest rates available compared to other mortgage types.
Because VA mortgage loans are backed by the Department of Veterans Affairs, lenders can give you better terms and save you thousands over the life of your loan. Contact me today and I’ll check the VA loan rates today so you know exactly what’s possible before you start shopping for your home.
A VA mortgage home loan is a great option if you’ve served our country and want a flexible, affordable way to buy or refinance a home. You should consider a VA loan home mortgage if:
You’re an active-duty service member, veteran, or eligible surviving spouse.
You want to buy a home with no down payment.
You’d like to avoid paying monthly PMI.
You’re looking for lower interest rates compared to conventional loans.
If you’re in Richmond, VA or the surrounding areas and meet the eligibility criteria, this could be the best financing option for you.
VA mortgage loan benefits make homeownership easier for those who’ve served. With a VA mortgage home loan, you can enjoy:
For veterans in Glen Allen, VA, these benefits can make a big difference in getting into your dream home.
Here’s how I help local veterans and service members secure a VA loan Richmond VA:
Yes, it is required. It is a fee paid directly to the Department of Veteran's Affairs so that they can guarantee your loan and provide you with the opportunity to receive a loan with little to no money out of pocket.
It depends on several factors including: Whether you are Active Duty, Retired, Guard or Reserve and whether you this is a first time use, subsequent use, or a cash-out refinance as well as how much of a down payment you are putting down. The fee can range from as little as 1.25% up to 3.3% of the loan. Generally, the more money you put down the lower the VA funding fee. Please contact us and we will help you to determine how what the exact cost of the VA Funding Fee would be for your particular situation.
No, you can include the VA Funding Fee in your loan and pay the funding fee over the course of your loan.
Yes, however with a VA loan if you are purchasing a new home the seller can pay for all or part of your closing costs.
A VA Streamline Refinance is a refinance option that is available if you already have a VA mortgage and you want to lower your interest rate with little or no out-of-pocket closing costs. You don't have provide bank statements, W2s, job verification or paychecks.
Q: Are VA loan rates today better than conventional loan rates?
A: In most cases, yes! Because VA mortgage loans are guaranteed by the VA, they often have lower rates and better terms.
Q: Do I need a down payment for a VA mortgage home loan?
A: No, you can buy your home in Glen Allen, VA or Richmond, VA with no down payment.
Q: Can I use a VA loan more than once?
A: Yes, you can use your VA loan home mortgage benefit multiple times if you meet eligibility requirements.
Q: Do VA loans have closing costs?
A: Yes, but sellers can pay some or all of your closing costs.
Q: What’s a VA Streamline Refinance?
A: It’s a quick and easy way to refinance your VA mortgage home loan to a lower rate with minimal paperwork.
If you’re ready to explore VA home loans in Glen Allen or Richmond, VA, call me today. I’ll walk you through your options, check the VA loan rates today, and help you get the best possible deal.
📞 Call: 804-212-8663
These materials are not from HUD, VA, or FHA and were not approved by HUD or any other government agency.