Key Benefits of VA Loans:

With our expertise and dedication, we strive to make the VA loan process as smooth and accessible as possible.

What is a VA Loan?

A VA loan is a mortgage loan in the United States guaranteed by the U.S. Department of Veterans Affairs (VA). The loan ¹ is available to most U.S. veterans, active-duty service members, and eligible surviving spouses. VA loans offer several significant advantages, including: 

• No down payment: One of the most significant benefits of a VA loan is that it typically does not require a down payment, making homeownership more accessible.
• No private mortgage insurance (PMI): Unlike conventional loans, VA loans do not require PMI, which can save borrowers a significant amount of money over the life of the loan.
• Competitive interest rates: VA loans often come with competitive interest rates, making them an attractive option for eligible borrowers.
• Flexible credit requirements: VA loans generally have more flexible credit requirements than conventional loans, making it easier for veterans and service members to qualify.

Who is Eligible for a VA Loan?

To be eligible for a VA loan, you must meet certain service requirements and obtain a Certificate of Eligibility (COE) from the VA. Generally, you may be eligible if you are:

• Active-duty service member: You have served 90 consecutive days during wartime or 181 days during peacetime.
• Veteran: You have served the required time and were discharged under conditions other than dishonorable.
• National Guard or Reserve member: You have completed six years of service.
• Surviving spouse: You are the unmarried surviving spouse of a service member who died in the line of duty or from a service-related disability.

How Can Alyssa Mortgage Help?

At Lit Financial, we have a deep understanding of the VA loan process and are committed to providing personalized guidance and support to our veteran and military clients. We can help you:

• Determine your eligibility: We can assist you in determining your eligibility for a VA loan and obtaining your COE.
• Explore your options: We can help you understand the different types of VA loans available and find the best fit for your needs.
• Navigate the process: We can guide you through the entire VA loan process, from application to closing.
• Secure the best terms: We will work diligently to secure the most favorable interest rates and terms for your VA loan.