VA guaranteed loans are made by lenders and
guaranteed by the U.S. Department of Veteran Affairs (VA) to eligible veterans for the
purchase of a home. The guaranty means the lender is protected against loss if you fail to
repay the loan. In most cases, no down payment is required on a VA guaranteed loan and the
borrower usually receives a lower interest rate than is ordinarily available with other
loans.
Negotiable interest rates.
Closing costs are comparable and sometimes lower - than other financing types.
No private mortgage insurance requirement.
Right to prepay loan without penalties
The Mortgage can be taken over (or assumed) by the buyer when a home is sold.
Counseling and assistance available to veteran borrowers having financial difficulty or
facing default on their loan.
Although mortgage insurance is not required, the VA charges a funding fee to issue a
guarantee to a lender against borrower default on a mortgage. The fee may be paid in cash
by the buyer or seller, or it may be financed in the loan amount.
A VA loan can be used to buy a home, build a home and even improve a home with
energy-saving features such as solar or heating/cooling systems, water heaters,
insulation, weather-stripping/caulking, storm windows/doors or other energy efficient
improvements approved by the lender and VA.
Veterans can apply for a VA loan with any mortgage lender that participates in the VA home
loan program. A Certificate of Eligibility from the VA must be presented to the lender to
qualify for the loan.
Call us Toll Free at:
888-4LA-2111
Or visit us at one of our offices:
Clarks Green Office
251 E Grove St
Clarks Green PA 18411
570-586-3122
Hawley Office
PO Box 286
Hawley PA 18428
570-226-9685
FHA & VA Approved
Licensed by the Pennsylvania Department of Banking and
Licensed Pursuant to the Secondary Mortgage Loan Act
