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LET'S GO VA!

Backed by the U.S. Department of Veterans Affairs, VA loans are designed to help active-duty military, or veterans become homeowners at an affordable cost. VA mortgage loans ask for no down payment, requires no mortgage insurance, allows for flexible guidelines as well as many other advantages. Let's get started today!

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LET'S GO VA!

Backed by the U.S. Department of Veterans Affairs, VA loans are designed to help active-duty military, or veterans become homeowners at an affordable cost. VA mortgage loans ask for no down payment, requires no mortgage insurance, allows for flexible guidelines as well as many other advantages. Let's get started today!

Our VA Purchase Option

How does a VA actually work?

The VA home loan program is specifically for veterans, active military and surviving military spouses, although there are a few basic service requirements each must initially meet. Those interested likely meet the service requirements if the potential homebuyer served 181 days on active duty during peacetime; 90 days on active duty during wartime; or served six years in the Reserves or National Guard – unless otherwise eligible.

The Department of Veterans Affairs does not issue VA home loans, but guarantees a portion of each mortgage to be paid in the event that the purchaser is unable to fulfill the loan.

Disclosure: This material is not provided by, nor was it approved by the Department of Housing & Urban Development (HUD) or by the Federal Housing Administration (FHA).

What are the requirements for a VA loan?

Unlike conventional loans, VA mortgages offer the unique benefit of $0 money down. In fact, 9 out of 10 VA loan borrowers do not place a down payment. This benefit is here to make the purchase of a house easier and more accessible to those who have served our great nation.

Additionally, with the VA home loan program, you do not have the additional monthly cost of private mortgage insurance (PMI). This adds up to a substantial savings for VA homebuyers over the life of their loan.

And, if that isn’t enough, VA loans offer lower closing costs, highly competitive interest rates and carry no penalties if the loan is paid early.

Main points of qualification for VA loans


  • STEP1

    Credit Score 
    Borrowers with lower credit scores are more likely to get approved if they apply for a VA loan. Scores can go as low as 580, however, we will most likely need an explanation of the reason the credit is challenged. 

  • STEP2

    Loan Amount 
    With a VA mortgage, you have an advantage over FHA when it comes to how much you can borrow. The maximum loan amount requirement for a VA mortgage in Arizona is $417,000. For a Veteran with full eligibility, VA guarantys up to 100% of their home value.

  • STEP3

    Debt to Income Ratios – What’s This?
    To qualify for a VA loan, you’ll need to have reasonable debt to income ratios. This means that the amount you spend on monthly payments needs to be “reasonable” when compared to your monthly income. In general, 41% is the maximum debt to income ratio allowed, but in some cases it’s possible to get approved up to 44% with favorable circumstances.

  • STEP4

    VA Residual Income
    The VA requires military borrowers to meet or exceed a minimum residual income threshold, which varies by individual family size and cost of living by geography. What does that mean? You need to have money left in the bank depending on your family size, after you’ve paid all your bills each month. 

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