VA and USDA Mortgages

These government insured mortgages are a good option for the reasons listed below.

A VA mortgage allows qualifying veterans or their surviving spouses to purchase or refinance homes and condominiums with little or no down payment and no monthly PMI.  VA mortgage loans are issued by federally qualified lenders and are guaranteed by the U.S. Veterans Administration. The VA determines eligibility and issues a certificate to qualifying applicants to submit to their mortgage lender of choice. It is generally easier to qualify for a VA loan than conventional loans.

Here’s how it works:

  • 100% financing without private mortgage insurance or 20% second mortgage.
  • A VA funding fee of 0 to 3.3% (this fee may be financed) of the loan amount is paid to the VA.
  • When purchasing a home, veterans may borrow up to 100% of the sales price or reasonable value of the home, whichever is less.
  • When refinancing a home, veterans may borrow up to 90% of reasonable value in order to refinance where state law allows.

Apply for a VA Loan with a VA Qualified Lender.

A USDA mortgage is insured by the U.S. Department of Agriculture and the program’s biggest feature is its option for “no money down” financing. Via the USDA, you can finance 100% of a home’s purchase price while getting access to below average fixed mortgage rates.

  • Is your credit less than perfect?
  • Is your down payment or home equity less than 5%?
  • Do you prefer the security of a government-insured loan?
  • Do you want an interest rate lower than a conventional loan?

If you answered yes to any of these questions, one of these loan programs may be right for you! Find out how easy the Loan Tree can make buying or refinancing your home by contacting us for additional details.

Why not call or email us for additional information at 732-988-5000 x202 or Or you can click here MORE INFORMATION and we will respond to your request as soon as possible.