VA Home Loans
What is a VA Home Loan?
Academy Mortgage proudly offers loan products that meet the home financing needs of active-duty military and veterans nationwide. VA home loan programs 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.
What are the benefits of a VA Home Loan?
VA Home Loans offer the following features:
- No down payment required (provided the veteran is income- and credit-qualified and the purchase price is more than the reasonable value of the property).
- Buyer informed of property’s 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).
- Comparable 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 personal occupancy. 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 your Loan Officer today to see if a VA Home Loan is the right solution for you. We take pride in delivering value and savings to the men and women who serve our country. It would be a pleasure to help.
You may also review the Department of Veterans Affairs' online pamphlet, VA-Guaranteed Home Loans for Veteran.
State Lic: UT: 5488080; WA: MLO-283797; CA: CA-DBO283797; AZ: 0938871; OR: 283797; NV: 57762; TX: 283797; ID: MLO-20416; IA: 28984; FL: LO41307; CO: 100505993; KS: LO.0035274; KY: MC389192;
Corp Lic: UT: 5491140-MLCO; WA: CL-3113; CA: 4170013; AZ: BK-0904081; OR: ML-2421; NV: 2731 and 1147; TX: 3113; ID: MBL-671; IA: 2008-0108; FL: MLD241; CO: 3113; KS: MC.0024999; KY: MC23305;
Licensed by the Department of Business Oversight Under the California Residential Mortgage Lending Act; Figure: 7 TAC §81.200(c) CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A MORTGAGE BANKER OR A LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT'S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT'S WEBSITE AT WWW.SML.TEXAS.GOV.; Kansas Licensed Mortgage Company;