Welcome Home Veteran!

What is a VA loan?

VA loans are backed by the government. The lender originates the loan, but the Department of Veteran Affairs (VA) guarantees it. By reducing the risk to the lender, this allows for more flexibility in qualifying compared to a conventional loan. VA loans accept a lower credit score and higher Debt-to-Income (DTI) ratios.

The VA offers a lifetime home loan guaranty benefit to Service Members, Veterans (and in some cases their surviving spouses) and Reservists who have served for at least 6 months. VA loans tend to have more favorable terms and features not available with other programs. These include a little to no down payment option, up to 100% financing and, unlike FHA or conventional loans, there is no Private Mortgage Insurance (PMI) requirement. Loans can be used to purchase, refinance, or modify your home.

To qualify for a VA loan, you must meet the minimum service requirements, have a valid Certificate of Eligibility (COE) and meet other qualifying factors, like income and credit score minimums. A COE is a document provided by the US Department of Veterans Affairs that certifies you meet the eligibility requirements for a VA loan. For more information about COE’s and to apply for your certificate, go to: https://benefits.va.gov/benefits/

Military service members and veterans have unique mortgage needs. MiMutual Mortgage has specially trained VA lending experts that can help you every step of the way!

  • 100% Financing Available For Qualifying Borrowers
  • No First Time Home Buyer Requirements
  • Allows Seller Contribution to Closing Costs
  • May be Eligible for No funding Fee (ask your local Mortgage Loan Officer for more details)
  • The government limits the amount of closing costs you can be charged