VA Loansleft

VA guaranteed loans are made by lenders and guaranteed by the U.S. Department of Veteran Affairs (VA) to eligible veterans for the purchase of a home. The guaranty means the lender is protected against loss if you fail to repay the loan. In most cases, no down payment is required on a VA guaranteed loan.  Interest rates are comparable to conventional loans.


Other benefits of a VA loan include:


  • Equal opportunity for all qualified Veterans to obtain a loan
  • No down payment (up to the Freddie Mac loan limit for the county where property is located.
  • Buyers informed of reasonable value.
  • Negotiable interest rates.
  • Limitations on Closing costs.
  • Mortgages are assumable.
  • Long amortization (repayment) terms.
  • No private mortgage insurance requirement.
  • Mortgage can be taken over (or “assumed”) by the buyer when a home is sold. 


Although mortgage insurance is not required, the VA charges a funding fee to issue a guarantee to a lender against borrower default on a mortgage. The fee may be paid in cash by the buyer or seller, or it may be financed in the loan amount.


A VA loan can be used to buy a home, build a home and even improve a home with energy-saving features such as solar or heating/cooling systems, water heaters, insulation, weather-stripping/ caulking, storm windows/doors or other energy efficient improvements approved by the lender and VA.


Veterans can apply for a VA loan with any mortgage lender that participates in the VA home loan program. A Certificate of Eligibility from the VA must be presented to the lender to qualify for the loan.


For further information about VA loans, please give me a call, Sherry Bitner - 941-504-1445 or email me at




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