VA Loans

VA Loans offer some very great benefits to those that have served our country.

VA Loans

The VA loans are guaranteed by the U.S. Department of Veteran Affairs and is available to most US service members. The loans offer some amazing benefit to the brave men and women who have served our country. So, what do you need to know about the VA loan? Here is a quick run down of all the ins and outs.


  • 100% financing
  • Owner-occupied only
  • 620 minimum credit score
  • No MI (mortgage insurance)
  • Seller concessions allowed
  • Easier to qualify since they are government backed
  • A Funding fee is required- this ranges from 1.25% – 3.3% depending on the amount of money you put down and whether you have used your benefit in the past. This fee can be rolled into the loan
  • You can use the VA loan more than once and sometimes can have 2 loans at the same time.
  • Closing costs are still required but they can be rolled into the loan as a lender credit. Therefore, your only out of pocket expense will be earnest money and home inspections.
  • Quick close times- We will close your loan in 30 days or less, guaranteed!


With every rule, there are exceptions. To qualify for multiple homes having a VA loan, they must have the original intent to be owner-occupied. Each county within every state has a set limit of the max VA benefit. Please check your county limits here (link to VA limits for 2018). If you have a VA loan and your balance is $200,000 and you are looking to buy another home (in El Paso County, CO where the max VA benefit is $453,100), then your remaining benefit would be $253,100. Let’s say your home purchase is $300,000. This would exceed your VA benefit by $46,900. Therefore, your down payment required would be $11,725. Make sense?

Company NMLS #1738617