VA Loans
Considering a VA loan for your first home? Let us assist you every step of the way and make your dream of homeownership a reality.
You’ve served our country, now let’s get you into your home with a VA loan.
Have you served in the military and are searching for a home loan that’s right for you? Are you wondering if a VA loan is better for you than a conventional loan? If so, you’ll be happy to know that because of your service history, you may be able to qualify for a VA home loan to make your home hunt easier.
At Luminate Home Loans, we make it our priority to guide you through the best financial decisions, all with your interest in mind. It’s our goal to help you feel informed and engaged throughout the entire lending process. Let us light the way to homeownership for you.
What is a VA Loan?
Having served in the military, you likely already know that VA stands for the U.S. Department of Veterans Affairs. A VA loan is a mortgage that is issued by a lender (like Luminate), but is guaranteed by the government.
The VA loan was designed to offer long-term financing to eligible Americans like yourself. Since the government guarantees to pay the lender back for any payments a borrower doesn’t make, we’re able to offer better terms that are much more favorable for homebuyers like you. It's our way of thanking you for your hard work and service.
What does that mean for homebuyers?
Because this loan is specifically for qualified U.S. veterans or active-duty military personnel, only these specific people can be eligible for the loan. In some cases, some surviving spouses of veterans may also be eligible (provided that they do not remarry).
A VA loan may or may not be the right move for you, but know that we'll always take a "no bull" approach when it comes to your financial goals. We'll provide as much transparency and clarity as possible, so you can finally relax after working so hard to serve our country.
What Are the Benefits of a
VA Loan vs. Any Other Loan?
As a way to give back to former or active military members, VA home loans are a great option when you want to pay minimal costs for a new home. Keep reading for some of the great benefits our VA home loans can offer you!
0% Down Payment
Thanks to your service, there’s no minimum down payment!
No Mortgage Insurance
With a VA loan, there’s no monthly mortgage insurance.
Fewer Restrictions
Having trouble meeting the qualifications for a regular loan? A VA loan is much more flexible.
Disabled Veteran Benefits
Veterans considered at least 10% disabled by the Veterans Administration are exempt from the VA Funding Fee.
Discounted Closing Fees
The maximum seller paid closing costs is only 4% with a VA Loan.
Various Loan Types
VA loans can be used for a variety of home options, including mortgages and refinancing.
Do you qualify for a VA Loan?
If you don’t know the answer to this question, that’s completely okay! One of our team members will be happy to go over the details with you, but typically you’ll need to meet the minimum VA loan requirements for your specific length of active duty. You can see these requirements on the U.S. Department of Veterans Affairs website, or you can simply talk to one of our originators for more details.
VA Property Guidelines
- Structure of home must be sound
- Property must have own water heater
- Working septic system
- No leaks in the roof
- No evidence of termites
- No peeling or chipping paint
Still unsure if a VA Loan is right for you?
That’s okay—because our team is here to help guide you every step of the way. We don’t want you to feel left out in the dark, but instead to have complete clarity and transparency throughout your entire loan process.
Here at Luminate Home Loans, we truly believe in our mission and core values. We focus on people like you because we understand that character does count. We stay humble and work hard so that the lending process stays approachable and transparent every step of the way.
Your new home is waiting. Let's get you in there.
We’ve been helping people like you achieve their homeownership dreams for over 25 years.
This is a loan production office of Luminate Bank.
Hours:
Monday to Friday
8:30am to 5pm
