VA loans
VA home loans are a benefit earned by eligible veterans, service members and surviving spouses. I'll help you use yours with confidence.
How a VA loan can help
| VA | FHA | |
|---|---|---|
| Who can use it | Eligible veterans, service members and surviving spouses | Any qualified buyer |
| Monthly mortgage insurance | None | Yes |
| Upfront cost | VA funding fee, unless you're exempt | Upfront mortgage insurance premium |
| Occupancy | Primary homes | Primary homes |
Eligibility depends on your service. Veterans, active-duty service members, certain National Guard and Reserve members and some surviving spouses can qualify. Your Certificate of Eligibility confirms it.
It's a one-time fee paid to the VA that helps keep the program running. The amount depends on your loan, down payment and whether you've used the benefit before. You can pay it at closing or add it to your loan.
Veterans receiving VA compensation for a service-connected disability are generally exempt, along with certain others such as some surviving spouses and active-duty Purple Heart recipients. I'll help you confirm your status.
Yes, in many cases. How much entitlement you have available depends on whether a prior VA loan was paid off and whether you still own that home.
VA loans are for homes you'll live in as your primary residence. If you're buying a rental, a DSCR loan may be a better fit.
Apply online, or book a time and I'll walk you through it.
VA loans are guaranteed by the U.S. Department of Veterans Affairs. BMG Home Loans LLC is a private mortgage broker and is not affiliated with or endorsed by the VA or any government agency. VA eligibility is determined by the VA. Lender credit and income guidelines also apply. This is general information, not an offer or commitment to lend. Not all applicants qualify.