A VA loan is perhaps the most powerful and flexible lending option on the market today. Rather than issue loans, the VA instead pledges to repay about a quarter of every loan it guarantees in the unlikely event the borrower defaults. That guarantee gives VA-approved lenders greater protection when lending to military borrowers and often leads to highly competitive rates and terms for qualified veterans.
Benefits of VA Loans
Far and away, the most significant benefit of a VA loan is the borrower's ability to purchase with no money down. Apart from the government's UDSA's Rural Development home loan and Fannie Mae's Home Path, it's all but impossible to find a lending option today that provides borrowers with 100 percent financing.
VA loans also come with less stringent underwriting standards and requirements than conventional loans. In fact, about 80 percent of VA borrowers could not have qualified for a conventional loan. These loans also come with no private mortgage insurance (PMI), a monthly expense that conventional borrowers are required to pay unless they put down at least 20 percent of the loan amount.
VA loans offer a few other bells and whistles:
Competitive interest rates that are routinely lower than conventional rates
No prepayment penalties
Higher allowable debt-to-income ratios than for many other loans
Streamlined refinancing loans that require no additional underwriting
Don't Wait! Find out about your options Today!
Our Happy Clients
"I wanted to let you know how impressed I was with the job everyone did at your company. I have refinanced several times in the past and usually pick the company that has the lowest rates. Of course I did the same when I chose your company. However, this time I received great service to go with the low rate."
"Premier leadership and staff bent over backward to make sure our loan application and processing was seamless and smooth. Though this was my first loan and I had great anxiety and anticipation, everything was fully explained and easy to process. Customer service is exceptional. I believe very strongly that both my loan officer and the company as a whole embraces standards of ethics and responsibility to their clients."
"Best rates and competitive rates. You excel with customer service and prompt service. Amy answered her own calls and I rarely got a voicemail. If I did get a voicemail, she returned the call very promptly. Same with emails. Great job, Premier Lending!"