What is a VA Loan?
A VA loan is a mortgage option for people who meet the VA’s guidelines for military service. They are guaranteed by the Department of Veterans Affairs. In most cases, you’ll get your loan from an approved private lender, like a mortgage company or bank.
Geneva Financial is a VA-approved lender. We offer these types of VA loans:
- Fixed-rates with a variety of terms, so you can choose the length of the mortgage that works for you
- Adjustable rates (ARMs) if you’re looking to stay in your home for 5 or 7 years
- Jumbo loans if your loan will be between $484,351 and $1,500,000
Qualifying for a VA Loan
When you apply for a VA loan, we’ll want to make sure you have sufficient income and that you’re eligible for this type of loan. If your situation meets the VA’s guidelines for type and length of service, they’ll issue a Certificate of Eligibility to confirm you’re eligible. If you haven’t already, we’ll apply for your Certificate of Eligibility to save you some time. Click here to learn more about eligibility.
To qualify for a VA loan with Geneva Financial, we recommend having a credit score of at least 580 and a debt-to-income ratio no more than 60%.
- Most veterans and service members won’t need a down payment.
- You can qualify with a lower credit score and more debt compared to conventional loans.
- If you already have a VA loan, you can refinance up to 120% of your home’s value.
- Keep in mind that if you’re taking cash out of your current home, you can only borrow up to 100% of your home’s value.
Benefits of Getting Your VA Loan With Emmett Dempsey
- Emmett Dempsey is a veteran and he loves helping fellow veterans with their VA loan.
- Personalized service from one of Florida’s top rated lenders.
- Balance of online tools and technology with a human client touch.
- Clarity of mortgage options and financial benefits through a Mortgage Coach Total Cost Analysis.
- Continued Annual Reviews of your mortgage and personal finances.