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What is a VA loan? & VA financing tips

Purpose Funding is proud to offer the best options to our American Hero’s- VA loans for Veterans Helping Veterans! Our VA loan can help you acquire your home with no money down, cash out up to 100% of your equity, or drop your payments with no appraisal or income qualifications. With no closing costs and nothing added to your loan options!

What is a VA loan?

A VA loan is a mortgage loan in the United states that is guaranteed by the United States Department of Veterans Affairs (VA). This program is offered to American Veterans, Military member who are currently serving in the U.S military, reservists and select surviving spouses- to be used in purchasing single-family homes, condominiums, multi-unit properties, manufactured homes, and new construction.

Benefits include-

  • No Money Down
  • Lower Monthly Payments
  • Easy to Qualify

Our VA loan tips and checklist-

  1. Meet with a Purpose Funding team member
  2. Make a plan that is right for you. Determine what your ability to afford the monthly VA loan payment options are.
  3. Understand the advantages of VA loans with Purpose Funding!
  4. First time homebuyer? Determine what you would like for your first home. For example, size, location, featured, etc.
  5. Decide if you would like a 15-year or a 30-year VA mortgage payment. For more information on the difference of a 15-year and 30-year mortgage click here!
  6. Prepare your paperwork. Be sure to have important documents like your personal contact information, primary borrower details, social security number, employment information, income, assets, debts, and monthly debt payments to expedite the process.
  7. Get your VA loan pre-approval!

Get a quick quote online today with Purpose Funding, click here! Or give us a call at (844) 427-3863