St. Louis VA Home Loans

Right now is a great time for qualified veterans in St. Louis to buy the house of their dreams with a VA Loan. Housing prices have come down in recent years, while the VA has dramatically increased the loan limits in the area. Feel free to contact us to get started on a VA Home Loan today.

What is a VA Loan?

VA Loans are guarantees on a portion of a private loan – not the actual loan itself. Basic entitlement is $36,000 or up to 25% of the total loan amount. This is what your lender will receive in the event of a foreclosure, so it is essentially the same as an insurance policy. What this means for you is that you are a very secure borrower, and will be able to take advantage of great benefits that can’t be found with conventional loans.

What are the benefits?

The first major benefit of VA Loans is the zero-down feature. When you purchase a new house in St. Louis with a VA Loan, you won’t be required to provide a down payment on the property. You also won’t be required to pay private monthly mortgage insurance because the loan is already guaranteed for you. The other benefits of a St. Louis VA Loan are: minimal closing fees, low interest rates, flexible repayment plans, quick approval and streamlined refinancing.

How much can I borrow?

How much money you are allowed to borrow without providing a down payment depends on your credit score, financial situation and the loan limit in your county. The VA sets a limit on how much they will guarantee, and this amount varies from county to county. However, if you should find a house that is higher than the county loan limit, it is still possible to purchase the house but you may have to provide a down payment on the portion of the loan not guaranteed by the VA.

Where do I start?

You can get started today by taking a minute to fill out our secure online form. It’s free, only takes a minute and has no strings attached. Plus, you will get a pre-approval for a loan almost instantly! Let us help you take advantage of all that the VA has to offer!

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