The VA loan or Veterans Affairs loan is available to military personal and offers them a wonderful ZERO down program. Whether you're currently serving or honourably discharged you may qualify for this wonderful program. With No Down Payment and No Mortgage insurance it doesn't get much better than this. The government backed Veterans administration (VA) wants to thank our military personnel and so does Security Mortgage Lending.

FVA 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. With a VA loan 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 100% loans. 

Other benefits of a VA loan include:

• Low interest rates.

• Closing costs are comparable and sometimes lower - than other financing types.

• No private mortgage insurance requirement.

• No prepay 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.

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.

A Certificate of Eligibility from the VA must be presented to the lender to qualify for the loan commonly called a DD214.

Apply Now! Chat with us, or give us a call for more detailed information today.