VA Loans

VA Loans Are Good For:

VA loans are designed to help individuals become homeowners with favorable terms, including the potential for $0 down payment, no private mortgage insurance (PMI), and competitive interest rates.

What is a VA Loan?

VA helps Service members, Veterans, and eligible surviving spouses become homeowners. VA provides a home loan guaranty benefit and other housing-related programs to help you buy, build, repair, retain, or adapt a home for your own personal occupancy. VA Home Loans are provided by private lenders, such as banks and mortgage companies approved by VA like Fidelity Direct Mortgage, LLC (FDM). VA guarantees a portion of the loan, enabling the lender to provide you with more favorable terms. VA Loans are one of the best loan programs available.

What are VA Loan Requirement?

VA Loans require Certificate of Eligibility (COE)
A COE is a document that shows your mortgage lender that you’re eligible for a VA home loan. To get a COE, you need to demonstrate proof of service. The proof you need to submit varies based on whether you’re an active-duty military member, a veteran, a surviving spouse or otherwise qualify for a VA loan. With your DD214, FDM team members can help you get the COE.

Benefits of a VA Mortgage Loan?

• No down payment required in most cases
• Competitively low interest rates
• Limited closing costs
• No need for Private Mortgage Insurance (PMI)
• The VA home loan is a lifetime benefit
• FDM does not have a DTI (Debt to Income Ratio) Cap on VA Loans, residual income requirements must be met.
• FDM offers VA Loans upto $10 million in loan amount.