Benefits of VA Loans
VA loans are a great option if you’re Active Duty Military or a Veteran looking to purchase your dream home, pay off debts on your current home, make improvements, or just reduce your monthly payments and lower your interest rates.
- No down payment required
- No monthly mortgage insurance
- More flexible credit and income standards
- No prepayment penalty
- You can negotiate with the seller to cover most or all closing costs
- Lower interest rates and monthly payments
- Easier qualification process
Fill out our form for a free download now
Guide to your VA Benefits
Are You Eligible for a VA Loan?
There are several ways you could be eligible for VA financing. The most common way is 2 years active duty, or 6 years in the Reserves/National Guard. But we’ve helped a lot of people who thought or had been told that they didn’t qualify, so if you have any questions, call us at 530-244-0913
If ANY of the following apply to you, chances are you are eligible for a VA loan:
- 90 days or more of active duty service during wartime
- 181 days or more of active duty service during peacetime
- You were discharged from service (not-dishonorable)
- You are currently active duty personnel and meet either of the above service requirements
- You are the surviving spouse of a Veteran who died during service or service-related injuries and are not remarried.
You could summarize everything involved in getting approved for a VA loan under two main categories:
1. Credit. Most VA Approved lenders require a credit score of 620 or better. Many veterans have not established traditional credit scores by taking out loans and paying them back, for example, or by using credit cards. The VA program’s flexibility allows us to prove your creditworthiness without having a traditional credit score. And if your credit score is lower than 620, we’re happy to work with you and help you understand what you can do to improve your score.
2. Income. Other loan programs use “debt to income ratios” in qualifying people for financing. The VA uses a different method that takes into consideration both your net income and your family size. For smaller families, this way of calculating income can allow you to qualify for VA financing even if you’d have been turned down by other lenders because of a high debt to income ratio (too much debt and too little income).
Get Qualified! Use our form or call (530) 244-0913
Would a VA loan be the right choice for you? We can help you understand your options and choose the loan program that best meets your needs and your financial goals.