VA Loans: Excellent Benefits for Those Who Have Served
At Land Run Mortgage, we are honored to help clients who have served our country find home financing that works for them. Among our portfolio of mortgage options, we provide VA loans. VA loans are a privately funded home loan option that is insured through the U.S. Department of Veterans Affairs. Our certified mortgage professionals are able to provide great rates and a fast, seamless approval process to current servicemembers, veterans and certain family of those who have served. If you are considering purchasing a home in Oklahoma City, Edmond, or surrounding Oklahoma communities, contact us. We are here to answer your questions and schedule a consultation to determine your eligibility for VA loans and other financing options.
What is a VA Loan?
While they are insured through the Department of Veterans Affairs, VA loans are funded entirely through approved private lenders like Land Run Mortgage. They may be used to purchase a home or condominium, for construction or improvements to a home, to make energy-efficient home updates or to purchase a manufactured home or lot.
VA loans are an excellent borrowing option with great terms and some unique benefits that are not available through other home financing programs.
What are the Benefits of a VA Loan?
VA loans and other government-backed loans have less stringent approval requirements than conventional financing options. Benefits include:
- 0% down payment options available
- No required private mortgage insurance (PMI)
- Low, fixed interest rates with flexible terms
- No penalties for prepayment
- The ability to reuse the VA loan benefit with restoration of entitlement
- Assistance from the VA if you become at risk of foreclosure
- Financing limits up to $424,100
- Jumbo VA loans are also available for higher limits
Who is Eligible for a VA Loan?
Land Run Mortgage is a VA-approved private lender. Our mortgage professionals determine evaluate clients’ unique goals and financial situations to determine eligibility for this and other home loans. VA loan eligibility is determined on a case-by-case basis. Eligible applicants generally include:
- Active duty servicemembers
- National Guard members and reservists with at least six years of service
- Unremarried spouses of veterans who died in service or from a service-connected disability
- Spouses of veterans who died in service or from a service-connected disability who have remarried after age 57 or after 2003
- Spouses of servicemembers who are declared MIA or POW
- Certain members of certain other military- and public-service-related organizations
We can determine quickly if you are eligible for a VA loan. If you qualify, we will help you apply for and receive a Certificate of Eligibility, which is required by the VA before you are approved.
Apply for a VA Loan Today
At Land Run Mortgage, we provide the personalized service deserving of those who have served our country. If you are looking to finance a home in Oklahoma City, Edmond or surrounding communities, contact our team. Our certified mortgage professionals will help you apply for a VA loan and get started on your path toward owning a home.