The primary purpose of the VA loan is to offer long-term financing to qualified service members. VA loans are available to active duty, former military, reserves and guards of the Army, Navy, Air Force, Marines, and Coast Guard and their spouses. Benefits include:
- 0% down payment required, making upfront costs low
- Mortgage Insurance, which is normally required when less than 20% is put down, is not required, keeping monthly payments lower than other loan types
- Seller may contribute towards a portion of the buyer's closing costs
- Additional benefits exist for disabled vets
- Use the Interest Rate Reduction Refinance (IRRRL) to refinance your current VA loan with limited paperwork and no new appraisal
HomeStreet Bank is proud to offer VA loans to those who have served our country, continue to serve, or their surviving spouses. Talk to one of our Loan Officers today.