VA Loan
A VA loan is perhaps the most powerful and flexible lending option on the market today. Rather than issue loans, the VA instead pledges to repay about a quarter of every loan it guarantees in the unlikely event the borrower defaults. That guarantee gives VA-approved lenders greater protection when lending to military borrowers and often leads to highly competitive rates and terms for qualified veterans.
Benefits of VA Loans
Far and away, the most significant benefit of a VA loan is the borrower's ability to purchase with no money down. Apart from the government's UDSA's Rural Development home loan and Fannie Mae's Home Path, it's all but impossible to find a lending option today that provides borrowers with 100 percent financing.
VA loans also come with less stringent underwriting standards and requirements than conventional loans. In fact, about 80 percent of VA borrowers could not have qualified for a conventional loan. These loans also come with no private mortgage insurance (PMI), a monthly expense that conventional borrowers are required to pay unless they put down at least 20 percent of the loan amount.
VA loans offer a few other bells and whistles:
Competitive interest rates that are routinely lower than conventional rates
No prepayment penalties
Higher allowable debt-to-income ratios than for many other loans
Streamlined refinancing loans that require no additional underwriting
Apply Online
Quick Quote
Don't wait! Find out about your options today!
Our Happy Clients
-
"Chris was absolutely fantastic to work with. He closed on my mortgage efficiently and for exactly what he quoted me for. He answered my phone calls and emails immediately and got me a fantastic deal! I would totally recommend him to anyone looking to get a mortgage, you can't go wrong!"
-
"I had a terrific experience with Queen City - it couldn't have been better! Chris answered all of my questions, and was always available over the phone - even once in the early evening and another on Saturday. He had a great attitude also, not pushy like others I contacted. I used Queen City for a refi, and was surprised by how easy the whole process was. I would definitely recommend this lender to friends and family."
-
"I was ready to lock in with another lender but saw on Zillow that Chris could get me a much better rate. He was able to begin my application and get the 30 day lock that same day. The other broker didn't believe that the rate was real, or that the other bank would be able to complete the application process in 30 days, but Chris came through. We closed on time and the rate and fees were as promised. Chris was always available to talk and was a huge help throughout the process; I don't see why anyone would go anywhere else with a higher rate."