VA Loan

“Understanding your financial needs and goals is important to us, and we are committed to securing financing that meets your needs.”

What is a VA Loan?

A VA Loan is a home loan that through the Department of Veterans Affairs and is for eligible Veterans and Active Military.  A VA home does not require a down payment from the borrower for conforming loan limits.  For loans over the conforming loan limit, called VA Jumbo, a down payment is required and is calculated based on the loan amount and the entitlement available.  VA loans have not monthly mortgage insurance.  Instead there is an up front VA Guarantee Fee that can be financed into the mortgage.  VA loans typically have lower interest rates than conventional loans and are a great product for our Veterans.  As a VA Authorized Agent, Clifton Mortgage Services is an expert with VA loans!

VA Loan Details:
  • No monthly mortgage insurance
  • The upfront VA Guarantee fee can be financed into the Loan
  • Seller Contributions Allowed to closing costs
  • Up to 100% Financing, no down payment required
  • Qualifying Credit Scores start at 500, standard credit is 620+
  • Must verify income and assets and meet the VA residual income requirement
  • 30 Year Fixed
  • 15 Year Fixed
  • 5/1 ARM
  • Purchase, Refinance and Cash Out Refinance
  • Single Family Homes, Townhomes, 1-4 Unit Homes (duplex, triplex, quads) and VA approved Condos
  • Download our VA FLYER