Washington VA Loans
Right now is a great time to purchase or build a new house in Washington with a VA Loan. With housing prices at an all time low and VA Loan limits on the rise, it is possible for qualified veterans to afford even bigger houses than ever before. If you are interested in learning more, fill out our quick 1 minute VA Loan form
Conventional Loans vs. VA Loans
The biggest advantage that a Washington VA Loan has over a conventional loan is the zero-down payment feature. With a conventional loan in Washington, you might have to pay up to 20% for a down payment on a new property. With a VA Loan, you will be able to qualify for a loan in the upper six figures without having to supply a down payment. You also won’t be required to purchase private mortgage insurance, which will greatly reduce your monthly bills.
Other Great Benefits
Besides not having to supply a down payment or pay private monthly mortgage insurance, you will also get to take advantage of really competitive interest rates. Additionally, you will be guaranteed a cap on all closing fees so that you are not completely out-of-pocket at the end of the loan process. Other benefits include flexible repayment plans, easy refinancing and quick approval.
Getting approved for a loan in Washington is easy. The rules require that you serve a minimum of 181 days and either be currently serving in the military or have been honorably discharged. In order to obtain your VA Loan, you or your lender will need to fill out an eligibility form which can be found on the VA’s website. Once the VA has approved your application, you will be issued a Certificate of Eligibility and will then be free to apply for the actual VA Loan.
To get started on taking advantage of the VA Loan Guaranty Program today, take a minute to fill out our secure online form. It’s incredibly simple, fast and safe, and will help get you into the house of your dreams in no time!