How a VA Home Loan Works

You’ve served our great country. Now, let us serve you. We can help you buy a new home with zero down, 100% financing and a low interest rate.

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How a VA Home Loan Works

You’ve served our great country. Now, let us serve you. We can help you buy a new home with zero down, 100% financing and a low interest rate.

A Guide to VA Home Loans

If you are a veteran, active duty military or reservist or National Guard member, a VA Loan from Mountain America may be the best option to help you buy or refinance your home. With this type of home loan, the U.S. Department of Veterans Affairs (VA) backs the loan, so you can be eligible for a lower down payment, lower closing costs and additional loan protections.
 

Benefits of a VA Loan

  • Purchase or refinance
  • 100% financing available
  • No down payment required as long as the sale price doesn’t exceed appraised value
  • No private mortgage insurance required
  • Various payment options, including fixed rate and adjustable rate mortgages
  • Low closing costs
  • Closing costs may be paid by the seller
  • No prepayment penalties
  • Nontraditional credit allowed in some cases (includes detailed payment history on rental payments, utility bills, telephone/mobile services and television service)
  • Quick Close paperless closings available
  • Insured by the VA

How Do VA Loans work?

Veterans Affairs mortgages, most commonly called VA loans, are home loans made available to military veterans and active servicemen and women. These loans are designed mainly for move-in ready properties and can be secured without a down payment or minimum credit score requirement, even with a history of bankruptcy or foreclosure.

VA loans are provided by private lenders, namely banks and credit unions, and are guaranteed by the Department of Veterans Affairs. The VA guarantee means the borrower won’t have to pay mortgage insurance, but they will pay a VA funding fee, typically about two percent of the loan amount.

Get a home loan with a low down payment and low closing costs by applying for a VA Loan from Mountain America today. Apply online by clicking the button below, calling 1-800-277-7703, or by visiting your nearest Mountain America branch.

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Loans subject to credit approval.

Apply for a VA Loan today. 

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