You served our country, now let us serve you

As a Veteran, you and your family have many powerful home buying benefits in addition to traditional financing. With the exclusive VA Home Loan benefit, you may qualify for a loan with lower payments and no money down. We at First Community Mortgage understand the sacrifice you have made for our country. We are honored to provide VA Loans to veterans and qualified veteran’s spouses.

New Home

No down payment is required – so long as the sales price isn’t more than the appraised value. The VA purchase loan allows veterans over 100% financing without private mortgage insurance, or a 20% second mortgage and up to $6,000 for energy efficient improvements. With a home purchase, veterans may borrow up to 103.3% of the sales price or reasonable value of the home – whichever is less, which means you could buy a home for zero down payment. Also, you don’t have to be a first time home buyer to take advantage of this program.

Refinancing

In a VA to VA refinance (also known as an IRRRL), the veteran may borrow up to 100.5% of the total loan amount and can re-use the entitlement originally used. With an IRRRL, no appraisal is required. Also, credit qualification is streamlined if you have a 6-month mortgage history.

In a refinance where a new VA loan is created, veterans may borrow up to 100% of the home’s reasonable value. Sound a bit confusing? We are here to help you in every step of the way. From qualifying to signing the paperwork, we want you to achieve your dream of home ownership. Give us a call today. 1-800-GO-HUMAN

 

Loan approval and terms are dependent upon borrower’s credit, documented ability to repay, acceptability of collateral property, and FCM underwriting criteria. VA loans require borrowers to have VA eligibility through Veterans Administration. For more information, please visit www.benefits.va.gov/homeloans

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