VA loan

VA loans offer very lenient credit guidelines and amazingly low rates, with zero down payment options for qualified veterans.

VA loan requirements

Active-duty member of the military or veteran meeting minimum length-of-service requirements; or
Surviving spouse of a military service member who died while on active duty
Minimum credit score of 580
Primary residences only

Benefits of VA loan

Low credit score accepted
Zero mortgage insurance costs
Higher loan limits with little or zero down payment
Up to 100% cash-out refinance options

Today’s rates

VA 30-Year Fixed

Rates for Primary Home Purchase
Interest Rate




Loan Amount


Down Payment



30 Years

Monthly Principal & Interest Payment (Excludes taxes and hazard insurance)


Estimated Points


Disclosures, Assumptions & APR Information
Rates, terms, and fees as of December 1, 2022 12:58 pm and subject to change without notice.

The rate is based on base loan amount $500,000.00 (100% loan-to-value) purchase transaction of primary residence for qualified VA eligible borrowers. 740 credit score and a purchase price of $500,000.00 single family home. 30-day lock period.  Rates shown include 0.628 discount point. APR will also vary based on borrower VA funding fee. The APR on the instant scenario assumes a first time use regular military funding fee of  2.15%.  All loans are subject to borrower meeting VA approval guidelines.

Rates and terms subject to change based on market conditions and borrower eligibility. The rates shown are based upon a variety of conditions and circumstances. These include a consumer credit score which may vary from your individual credit score. A loan’s interest rate depends upon the specific features of the loan transaction and the borrower’s credit profile up to the time of closing. The advertised rates for 30-year fixed VA products are based on an assumed base loan amount of $500,000.00, $500,000.00 purchase transaction of primary residence, a 780 FICO score with a loan-to-value ratio of 100% maximum (0% Down-Payment) on a primary single family home. The annual percentage rate (APR), is the expense paid for credit over the loan term expressed as an annual rate. The Annual Percentage Rate (APR) displayed for the loan products shown here reflects interest rate and approximate cost of prepaid finance charges / discount points based on rate scenarios shown. The cost of prepaid finance charges are approximations which do not constitute and are not a substitute for the Loan Estimate of Closing Costs (LE) that a borrower receives once they apply for a loan.  For more information regarding our various loan products including no points or closing cost options, please contact us at (407) 704-8729
Please remember that we don’t have all your information. Therefore, the rate and payment result you see may not reflect your actual situation. Mortgage Expert, Inc. offers a wide variety of loan options. You may still qualify for a loan even if your situation doesn’t match our assumptions. To get more accurate and personalized results, please call (407) 704-8729 to talk to a licensed loan originator.
Due to various federal, state and local requirements, certain products may not be available in all areas.
The monthly payment amount displayed includes principal and interest. The payment amount does not include homeowner’s insurance or property taxes which must be paid in addition to your loan payment.

These mortgage rates are based upon a variety of assumptions and conditions which include a consumer credit score which may be higher or lower than your individual credit score. Your loan’s interest rate will depend upon the specific characteristics of your loan transaction and your credit profile up to the time of closing. For more information, please contact us.

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What is a va loan?
A va loan helps service members, veterans and eligible surving spouses to obtain a mortgage loan that is partially guzranteed by the VA and thus, enabling them to put little or no money for down-payment.
How does a va loan work?
The Department of Veterans Affairs will back a portion of each loan against default. Because of this guarantee, lenders provide $0 down financing as well as better rates & favorable terms.
Are va loans assumable?
Yes, an eligible VA borrower can allow someone else (even non-military) to assume financial responsibility for the mortgage if the lender takes part in the loan assumption.
Can I have two VA loans at once?
Yes, having two VA loans is possible & applies to active service members who receive PCS (Permanent Change of Station) orders. You would look to have your current home be a rental or second home while you have the home you’re looking to finance as your primary residence. Keep in mind that for qualifying you will have two mortgages count against your debt-to-income ratio.
Who qualifies for a va loan?
A VA Loan is eligible to any of the following: active-duty service members, veterans (unless dishonorably discharged), and in some cases, surviving family members. You must have served 181 days of active duty during peacetime or 90 days during wartime. Or you must have served more than six years with the National Guard or Reserves.
No closing cost VA home loan options
The only no down payment no closing cost mortgage available in the current market is a VA loan for qualified veterans. All other home buyers applying for a conventional or an FHA loan will need to put the minimum required down payment of 3.5% for FHA loans and 3% for conventional first time home buyers.
Do I need a down payment for a VA Loan?
The VA lets you finance up to 100% of the purchase price of the home. In comparison to a Conventional loan, you would need to pay mortgage insurance for any down payment less than 20%.
How do I show a lender that I am eligible for a VA Loan?
You will need a Certificate of Eligibility. You can go to the eBenefits to request one online. You can also request one by mail by filling out a Request for a Certificate of Eligibility form (or a VA Form 26-1880) and mail it to the address showing on the form. For example, if you live in Florida you would mail to: Department of Veterans Affairs, St. Petersburg Regional Loan Center, 9500 Bay Pines Blvd., St. Petersburg, FL 33744.
What is the VA Funding Fee?
This is a one-time fee paid to the Department of Veteran Affairs. The fee generally ranges from .5% to 3.6%, but most veterans pay 2.3%. This is generally depending on the type of loan, if you’ve previously had a VA loan before, or if you have a down payment that is greater than 5%.
If I’m eligible for a VA loan, do I automatically get approved?
No, you can still be denied for the following reasons: discrepancy on the application (any errors regarding your personal & financial information can result in a denial), changes to your credit score (if your score declines during the application process, this could impact your eligibility), as well as any issues with the property (the home must be in livable condition with a solid roof, windows, functional plumbing, and electrical system. If the home is determined to be in a non-living condition according to VA standards, the loan will be denied).
What property types are eligible for VA Loans?
A single family home, townhouse, condominium, manufactured homes, modular homes, and new construction are all eligible. On the other hand, vacant land & Co-Ops are currently not eligible. Certain requirements do apply such as a condo will need to go through a review & documentation such as the homeowner’s association questionnaire, budget, & policies will need to be provided for eligibility. On a new construction loan, builders, plans, and building sites must be approved by the VA. Builders are also subject to provide a minimum of an one-year warranty on homes that are built.
Can I get a VA Loan with a Chapter 7 Bankruptcy?
A two year wait period is required from the date of the Chapter 7 Bankruptcy discharge to get a VA loan.
What is a VA Loan Entitlement?
An entitlement is how much the Department of Veterans Affairs will guarantee on a loan. If you were to ever default on a loan, it is the maximum amount the VA will repay to the lender. The maximum entitlement is 25% of the loan limit in your county.
Can I get a VA Loan with a Foreclosure?
Just like a Chapter 7 bankruptcy, a minimum of two years is required to pass before a client is eligible to obtain a VA loan.

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