The main purpose of the VA home loan program is to help veterans with the purchase or refinance of homes with favorable loan terms and at a rate of interest which is competitive with the rate charged on other type of mortgage loans.
Features:
- Available for owner-occupied primary residences located in NC, SC, and VA.
- Generally, the lot size will limited to 2 acres or less, with some exception for larger tracts when comparable property sales support larger tracts as standard for the area.
Who is eligible:
- Primary borrower must be either active duty military, veterans, or their spouses with eligibility for at least 50% of the mortgage loan.
- Reservists who have completed six or more years service, currently active or with an honorable discharge.
100% loans require standard closing cost and VA funding fees to be paid by the member, otherwise they may be included in the loan amount not to exceed 100% LTV. VA Funding Fees are a percentage of the loan amount and are determined using the following information:
VA Guaranteed Loans
| Downpayment |
First Time/Non-Reservist |
First Time/Reservist |
Subsequent Use/Reservist |
| 0 - 4.9% |
2.20% |
2.40% |
3.30% |
| 5 - 9.9% |
2.20% |
1.75% |
1.50/1.75% |
| 10+% |
2.20% |
1.50% |
1.25/1.50% |
Apply Online! »
Or call 919-420-8111 or 1-800-361-4856, option 1 today for more information or to apply for a VA Loan! |
