Fixed Rate Loans
30-, 25-, 20-, 15- and 10-year terms are all available with fixed rate.
Buy a home with as little as 5% down (primary home). First time buyer can buy a home with as little as 3% down (primary home).
Refinance up to 95% of your primary home’s value.
Monthly payments remain the same for the entire loan term.
Adjustable Rate Loans
3/1, 5/1, 7/1and 10/1 ARM’s. Monthly payments based on a 30 year repayment schedule.
Provides veterans with flexible lending options and loan security.
The rate stays fixed for the first 3, 5, 7 or 10 years (depending on chosen term), and then adjusting annually thereafter.
3.50% down payment required on purchase.
Minimum credit score usually 620.
Post-bankruptcy qualifying – 2 years after.
Post-foreclosure qualifying – 3 years after.