Service within a branch of the U.S. Armed Forces could be very beneficial for a home buyer. Whether you served in the Army, Navy, Air Force, Marines or the Coast Guard, you might be eligible to receive an affordable home loan. Perennial Funding is an established lender that is licensed to offer VA mortgage loans.
Closing costs and a down payment for a home are generally the toughest hurdles to clear for prospective buyers. Since most buyers who are qualified to buy a home have demonstrated an ability to pay rent for a home, it often makes sense to consider the benefits of homeownership for a dwelling with a comparable mortgage payment.
Prior to the housing bust that occurred nearly a dozen years ago, the criteria to get approved for a home with no money down was more relaxed.
Few programs are currently available for borrowers with average credit scores to buy a home without a down payment.
The U.S. Department of Veterans Affairs provides governmental backing for lenders who are approved to offer VA mortgage loans. Qualified borrowers are generally able to receive funding to purchase a home with little or no money down.
Similar to other types of home loans, VA-backed mortgage loans offer various adjustable and fixed-rate terms.
Completing a mortgage loan application to determine whether you qualify is the initial step if you are a current servicemember or if you are a veteran.
You must also obtain a Certificate of Eligibility from the U.S. Department of Veterans Affairs.
Financial documents, such as your pay stubs, recent tax returns and savings account information will be needed to determine an affordable loan amount for your situation.
An acceptable credit score will also be needed to meet the qualifying conditions for a VA home loan. Typically, a credit score of 620 or greater should be sufficient for you to obtain VA-backed funding with no money down.
A seamless connection via a secured portal simplifies the process to complete your request for a home loan.
Using the button below, you can apply for a VA mortgage loan online. You can also call Perennial Funding today at (888) 826-4856 to speak with a licensed mortgage specialist about affordable home loans.