Valuing Our Heroes

VA Home Loan Benefits for Active Service Members and Veterans

At Impact Mortgage Group, we recognize the immense sacrifices made by our military personnel. Whether you are an active service member or a veteran, you've earned not just our gratitude but also significant benefits through the VA Home Loan program. Let's explore the special advantages this program offers to those who have bravely served our country.

What is a VA Home Loan?

The VA Home Loan is a mortgage option backed by the U.S. Department of Veterans Affairs. It's designed to help active service members, veterans, and eligible surviving spouses become homeowners. This program offers several unique benefits that make buying or refinancing a home more affordable.

No Down Payment Requirement

One of the most significant benefits of a VA loan is the ability to purchase a home with zero down payment. This is a substantial advantage that allows you to become a homeowner without needing to save a large amount of money upfront.

No Private Mortgage Insurance (PMI)

Conventional loans typically require private mortgage insurance when the down payment is less than 20% of the home's value. With a VA loan, there's no PMI requirement, which can save you a considerable amount of money over the life of the loan.

“With Impact Mortgage Group, securing our dream home wasn't just a transaction, it felt like a partnership. They were with us every step of the way, making the complex seem simple and the daunting approachable. Here's to new beginnings!”

Jimmy S.

Competitive Interest Rates

VA loans often come with lower interest rates than conventional loans, due to the VA guarantee. This can result in significant savings over the term of your loan.

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Flexible Qualification Standards

The VA program has more flexible qualification standards compared to conventional loans. Even if you have a lower credit score or a higher debt-to-income ratio, you may still qualify for a VA loan.

Closing Cost Limits

The VA also limits how much you can be charged in closing costs, making it more affordable to close on your new home. In some cases, the seller may even agree to pay all closing costs.
At Impact Mortgage Group, we're committed to helping our military heroes take full advantage of these benefits. Whether you're actively serving or have served in the past, we're here to guide you through the VA home loan process, ensuring you can secure the home you've earned.

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Please note: VA loan benefits depend on individual eligibility and other factors. Always consult with a mortgage advisor for personalized advice based on your unique financial situation.