VA Loans

What is a VA Home Loan?

The Michael Lara Group at Academy Mortgage proudly offers VA home loan programs to help veterans finance the purchase of homes with favorable loan terms and at an interest rate typically lower than rates charged on other types of mortgages.

VA Home Loans offer the following structures:

  • No down payment required. The possibility of no down payment up to conforming loan limits is a unique advantage of the VA loan program that can benefit borrowers who haven’t had the opportunity to save much money.
  • 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).
  • Similar closing costs with other financing types (or may be lower).
  • No mortgage insurance required.
  • Gifts and seller contributions accepted toward closing costs.
  • An assumable mortgage (with the approval of the VA).
  • Right to prepay without penalty.
  • VA assistance to veteran homebuyers in default due to temporary financial difficulty.

Who may benefit from a VA Home Loan?

VA Home Loans are made to eligible veterans (who were honorably discharged) for the purchase of a home for individual occupancy. Also, if your service was shortened due to an injury, illness, reduction in force or some other qualifying reason, the VA may still award home loan benefits in some cases even if you do not meet the minimum service duration requirements. For VA housing loan purposes, the term “veteran” includes certain members of the Selected Reserve, active-duty service personnel, and certain categories of spouses. Academy provides an equal opportunity for all qualified veterans to obtain a VA loan.

For more information Contact The Michael Lara Group at Academy Mortgage to see if a VA Home Loan is the right solution for you. We take great pride in delivering value and savings to the men and women who have spent time serving this great country.

Why Choose Us?

  • Exceptional Mortgage Service
  • Committed To Responsible Lending Practices
  • Providing Accurate & Relevant Mortgage Advice