VA-guaranteed mortgages help eligible veterans, active-duty service members, certain National Guard and Reserve members, and qualifying surviving spouses purchase or refinance a primary residence. Eligibility is established through a VA Certificate of Eligibility, but loan approval also requires acceptable credit, income, residual income, occupancy, appraisal, property condition, and lender underwriting.

VA FINANCING DETAILS

A borrower with sufficient entitlement may be able to finance an eligible home without a required down payment, subject to the purchase price, VA appraisal, lender approval, and current entitlement rules. Buyers may still need funds for inspections, closing costs, prepaid taxes and insurance, reserves, or any amount above the appraised value. Homeowners insurance remains required; the VA benefit generally avoids monthly mortgage insurance.

Most VA borrowers pay a funding fee determined by current VA rules, loan purpose, down payment, prior use, and exemption status. The fee may often be financed. Eligible veterans receiving qualifying disability compensation and certain surviving spouses may be exempt.

VA loans are intended for eligible owner-occupied properties and require a VA appraisal and minimum property standards. Assumptions and refinances are subject to separate requirements. FirstHome.us serves eligible borrowers throughout Riverside County and San Bernardino County.

APA Mortgage is not affiliated with or acting on behalf of the Department of Veterans Affairs or the federal government. All loans are subject to underwriting and VA requirements.

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