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  • Military family in front of their home. Shop for low VA mortgage rates with AFR.

    Home > Loan Programs > VA Mortgages

    Shop for Low VA Mortgage Rates

    For eligible veterans and active duty military personnel a VA mortgage loan can be a wonderful benefit to take advantage of. The Department of Veterans Affairs guarantees these loans, which can finance as much as 100% of the value of the property, ensuring low rates and easier qualification guidelines when compared to conventional loans.

    Benefits of a VA Loan

    In addition to the excellent VA mortgage rates, and no money down option there are a number of advantages to obtaining a VA home loan, such as:

    • Many VA loans are assumable.
      This means that if you sell your home the new owners may be able to take over your mortgage rather than applying for a new loan. This is extremely attractive to many buyers and will set your property apart from others for sale. An assumable loan is particularly desirable when it has an interest rate that is lower than those currently available at the time the home is sold. It is important to understand how allowing a buyer to assume your loan could impact your eligibility for a future VA loan on another property. Talk with a VA loan expert at American Financial Resources to learn more - call 800-634-8616.

    • Can be easier to qualify for.
      Those with less than perfect credit can sometimes qualify for a VA home loan even if they would not qualify for most conventional loans.

    • No down payment and low closing costs.
      A VA mortgage can allow you to purchase a home with very little initial out of pocket expenses. Up to 100% of the property value can be financed, and so can the VA funding fee. Closing costs are permitted to be covered by gift funds or paid by the seller.

    • No PMI.
      No private mortgage insurance is required either, which conventional borrowers must generally pay monthly unless they put down a minimum of 20% of the loan amount.

    • Simple streamlined refinance option.
      If you already hold a VA mortgage and would like to take advantage of today's low VA mortgage rates a streamlined refinance can be considerably simpler, less time consuming, and less expensive than a conventional refinance. There are no prepayment penalties and with streamlined refinancing, no additional underwriting is required. Request a quote now to see what the rates are today and what you could be saving.

    Get started today

    Created in 1944, the Veterans Administration Home Loan Guaranty Program was established to assist service members returning from active duty, the opportunity to buy a home of their own. Since it came into being, over 18 million active duty, retired and reservist members of the military have realized the dream of home ownership.

    Because the Federal Government backs the loans, military borrowers benefit from very competitive rates and terms offered by VA-approved lenders. The loan consultants at American Financial Resources are experienced VA home loan experts. They can help you determine whether you are eligible and help you obtain your certificate of eligibility from the Department of Veterans Affairs. They can also let you know what the current loan limit is for the county in which you live or are looking for a home, and walk you through the entire process.

    Take the next step:

    • Fill out the form to the right to request current VA mortgage rates

    • Or, you may simply call us at 1-800-634-8616


     


    American Financial Resources is a BBB Accredited Business. Click for the BBB Business Review of this Mortgage Banker in Parsippany NJ