If you’re an active service member, a Veteran, or the surviving spouse of a Veteran, you may be eligible to apply for a Veterans Administration (VA) loan. VA loans are advantageous in many ways. Our team of mortgage professionals at Supreme Lending can help you determine if you are eligible for a VA loan in Allen, Texas.
The VA loan program was created to help U.S. Veterans and service members attain affordable home financing. A VA loan does not require homebuyers to put any money down, which benefits those who don’t have money saved for a down payment.
Because of the risk involved in approving a VA loan in Allen with no money down, eligible VA homebuyers are required to pay a fee of 1.4%-3.6% of the purchase price upfront. However, this fee can be rolled into the mortgage loan and paid over time.
Qualifying homebuyers may use a VA loan every time they purchase a property, provided the home will be their primary residence. Second homes and investment properties are not eligible for VA financing.
If you’re a qualifying Veteran or service member, or the surviving spouse of one, talk to our team at Supreme Lending about applying a VA loan in Allen.
- Lower interest rates and closing costs
- No down payment requirement
- No private mortgage insurance required
- Fixed-rate and adjustable-rate options
- Available for first-time and repeat homebuyers
- Variety of eligible VA-approved property types