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Flat Branch Home LoansVA Loans

Veterans Affairs-guaranteed loans are made by lenders and guaranteed by the U.S. Department of Veterans Affairs (VA) to eligible veterans to aid in the process of buying a home.

The VA Difference

For Traditional loans, providing a down payment of less than 20% usually results in the need for Private Mortgage Insurance (PMI). One of the primary benefits of the VA loan is that the borrower doesn't pay PMI, making your monthly payments more affordable.


The following are eligible for a VA loan:

  • Active veterans
  • Discharged veterans
  • Medically discharged veterans

Down Payment

In most cases, no down payment is required and the borrower usually receives a lower interest rate than is ordinarily available with other loans. Although mortgage insurance is not required, VA charges an up-front funding fee to issue the guarantee. This fee is typically financed into the loan amount, but may also be paid in cash by the buyer or seller. A veteran may also be exempt from this funding fee if they are disabled due to a service-related injury.

Additional Advantages

VA home loans hold many advantages for the eligible homebuyer. Along with no mortgage insurance required, VA-guaranteed loans have no prepayment penalties and provide counseling and assistance to veteran borrowers having financial difficulty or facing default on their loan.

Here is a basic outline of the program and its benefits we highlight at a narrower glance:

  • Down Payment: 0%
  • Gifts Allowed: Yes
  • Maximum Loan Allocated: $424,100
  • Minimum credit score: 600
  • Benefits: No down payment required, no monthly mortgage insurance
  • Monthly PMI: 2.15 first use, 3.30 subsequent use

VA Energy Efficient Mortgage

A VA loan can be used to buy a home, refinance any existing loan, or to build a new home. It can also be used to improve an existing 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 VA and the lender, like Flat Branch Home Loans. Here are some highlights for energy-saving features:

  • New windows (or other energy-efficient upgrades)
  • No up-front costs (costs can be rolled into the total loan amount)
  • Up to $6,000 in upgrades

With eligibility, VA home loans provide an integral step in the direction for you and your family’s future success in buying a home, with its benefits of no down payment required and no monthly mortgage insurance. If you are ready to start the home-buying process, our team of loan officers at Flat Branch Home Loans is ready to begin the journey of purchasing your dream home.