with VRM Lending LLC
This no-down-payment loan option was created exclusively for qualified veterans, service members and their spouses. VA loans are a more affordable option for qualified veterans, service members and their spouses. VA loans are backed, or guaranteed, by the Department of Veterans Affairs which allows private mortgage lenders to offer better terms. There are different loan types with fixed or adjustable interest rates, and a range of loan terms.
Call us or complete our pre-approval application today to get started.
What You Need to Qualify for a VA Loan
- A Certificate of Eligibility.
- The VA will issue you a Certificate of Eligibility if you meet their guidelines for type and length of service.
- If you don’t have one already, we can apply for your Certificate of Eligibility for you.
- A minimum credit score of 620.
- A debt-to-income ratio (DTI) of no more than 60%. Estimate your DTI by adding your monthly debt payments (such as credit card and car payments) and dividing the total by your monthly income before taxes.
- Money to cover the funding fee charged by the VA. This may be rolled into your loan. You may not have to pay this fee if one of these criteria applies to you:
- You have a service-connected disability.
- You receive VA disability or have in the past.
- You’re a surviving spouse who qualifies.