Veterans Affairs Loans
VA mortgages present some of the best options for veterans.
What is a VA loan?
The VA helps military service members, veterans, and eligible surviving spouses with qualifying for a mortgage — both for home purchase or refinancing. The Veterans Administration doesn’t actually lend the money for the mortgage; instead, it backs the loans made by private lenders to those who qualify.
VA loans offer many benefits including competitive rates, little to no down payment, and often no mortgage insurance. This could help save you over $100 a month in comparison to a FHA mortgage!
Do I qualify for a VA loan?
The list of those who are eligible includes:
- National Guard
- Some surviving spouses
What about Refinancing?
VA loans can be a huge benefit when refinancing with an Interest Rate Reduction Refinance, or IRRRL. An IRRRL is a streamlined refinance process that requires minimum documentation in order to refinance to a lower rate.
Applying for a VA loan will require a Certificate of Eligibility (COE). You can apply for your COE by…
- Apply by mail with VA Form 26-1880
- Apply online through the VA eBenefits Portal
- Contact MiLend for assistance. We are an approved VA lender
Lets Get Started
Are you ready to explore your loan options? Our home mortgage loan experts can help you weigh your choices.