Loan
VA Home Loans
VA loans are for current and veteran military service members and eligible spouses. These home loans tend to have competitive interest rates and usually require no down payment.
Benefits of a VA loan
- 0% down home loans
- Do not typically require Private Mortgage Insurance (PMI)
- Lowest average fixed interest rate on the market
- More flexible and forgiving credit underwriting guidelines for qualified borrowers
- Service members with a history of bankruptcy or foreclosure can still secure a VA loan
What is a VA loan?
A VA loan is a mortgage guaranteed by the U.S. Department of Veterans Affairs and issued by a private lender, such as a bank, credit union, or mortgage company. A VA loan typically doesn’t require a down payment, making it easier to buy a home. For the vast majority of military borrowers, VA loans represent the most powerful lending program on the market.
The VA’s guarantee means the government will repay the lender a portion of a VA home loan if the borrower doesn’t make payments. This assurance reduces lenders’ risk, allowing them to offer favorable terms and require no down payment.
VA Home Loans
VA loans are for current and veteran military service members and eligible spouses. These home loans tend to have competitive interest rates and usually require no down payment.
What is a VA loan?
A VA loan is a mortgage guaranteed by the U.S. Department of Veterans Affairs and issued by a private lender, such as a bank, credit union, or mortgage company. A VA loan typically doesn’t require a down payment, making it easier to buy a home. For the vast majority of military borrowers, VA loans represent the most powerful lending program on the market.
The VA’s guarantee means the government will repay the lender a portion of a VA home loan if the borrower doesn’t make payments. This assurance reduces lenders’ risk, allowing them to offer favorable terms and require no down payment.
Benefits of a VA loan
- 0% down home loans
- Do not typically require Private Mortgage Insurance (PMI)
- Lowest average fixed interest rate on the market
- More flexible and forgiving credit underwriting guidelines for qualified borrowers
- Service members with a history of bankruptcy or foreclosure can still secure a VA loan
Is a VA loan right for you?
Only qualified U.S. veterans, active-duty military personnel, and some surviving spouses are eligible for VA loans. VA loans are also only available for certain types of homes. It’s limited to “move-in ready” properties, including single-family homes, condos, modular housing, some multi-unit properties, and more. So, if you plan to buy a working farm or a fixer-upper, the VA loan may not be for you.
Last but not least, VA loans are only available for a primary residence and cannot typically be used to purchase investment properties or vacation homes.
Honoring the Veteran community
If you’re a Veteran, active service member, or otherwise qualify for a VA loan program, we would like to thank you for your service and sacrifice. At Hixon, it’s our honor to work with you. As your VA loan lending partner, we can guarantee no origination fees, better rates, and no mortgage insurance. That’s our gift to you.
Personalized Lending Options for Veterans
VA loans can be a terrific first step towards reaching homeownership goals for qualifying service members and family members. When you partner with Hixon, we’ll help you find the loan program that will work best for your unique situation. Ready to get started?
