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VA Loan Programs

On June 22nd, 1944 President Roosevelt signed the Servicemen’s Readjustment Act of 1944 also known as the G.I Bill.  The G.I Bill has evolved over time so all qualified servicemembers, Veterans and surviving spouses get the benefits they earned and deserve. The VA loan program helps first time homebuyers with a program that can have low rates, no down payment and no private mortgage insurance. The Refinance options help you lower payments, get cash out, pay off debt and make renovations. ReNew Lending is an approved VA lender and we are proud to serve our nations hero’s.

Eligibility

Select the button below that applies to you to see if you meet the requirements for the VA Home Loan Benefits.

The VA loan program requires a Certificate of Eligibility from the VA showing you qualify for a VA mortgage. As the lender we can request this certificate for you. If you would like to get the certificate yourself you can use the options below. 

You can apply for your Certificate of Eligibility through the VA eBenefits website. We can request your Certificate for you if needed also. You will need this certificate to show you are eligible for the VA loan. 

You can fill out the VA form 26-1880 and send it through the mail to get your Certificate of Eligibility.  

Program Information

VA Purchase

  • FICO as low as 500
  • no down payment
  • no Private Mortgage Insurance
  • VA funding fee options
  • 30YR, 25, 20YR, 15YR, and 10YR Fixed Term
  • ARM options available
  • Debt To Income Ratio up to 55%
  • Primary Residence only
  • Single Family Residences, Condo’s, Multi-Family Units, Townhouses, PUD and Manufactured Homes

VA Refinance

  • FICO as low as 500
  • no down payment
  • no Private Mortgage Insurance
  • VA funding fee options
  • 30YR, 25, 20YR, 15YR, and 10YR Fixed Term
  • ARM options available
  • Debt To Income Ratio up to 55%
  • IRRL Streamline Program available
  • Primary Residences
  • 2nd homes only under the IRRL program
  • Single Family Residences, Condo’s, Multi-Family Units, Townhouses, PUD and Manufactured Homes

VA Loan Programs

The VA Purchase Program offers a loan that requires no down payment , credit score as low as 500, DTI up to 55%, wide range of amortization terms and max loan limit depends on the County. Primary Residences only.  

The VA Rate Term Refinance Loan Program offers a loan that doesn’t requires any equity in the house, credit score as low as 500, DTI up to 55%, wide range of amortization terms and max loan limit depends on the County. You can lower your rate, change your loan terms and get up to $2000 cash back. Primary Residences only. 

VA Cash Out Refinance Loan Program offers a loan that requires at least 10% equity in the house, credit score as low as 500, DTI up to 55%, wide range of amortization terms and max loan limit depends on the County. You can lower your rate, change your loan terms, pay off debt and get cash back. Primary residence only. 

The VA Interest Rate Reduction Loan (IRRL) Program is the VA’s Streamline Program that offers a option that doesn’t requires any equity in the house, no appraisal is needed, credit is checked but only to check that mortgage payments must be on time, DTI up to 55%, wide range of amortization terms and max loan limit depends on the County. You can lower your rate, change your loan terms and get up to $2000 cash back. Primary Residences only. 

The VA High Balance Refinance Loan Program is for loans that go over the standard County Loan Limits. The program does not require any equity in the house but you might need at least 5% equity for pricing to work out. Credit score as low as 500, DTI up to 55%, wide range of amortization terms and max loan amount depends on the county. You can lower your rate, change your loan terms and take up to $2000 cash out. Primary Residence Only. 

The VA Cash Out High Balance Refinance Loan Program is for loans that go over the standard County Loan Limits. The program does not require any equity in the house but you might need at least 5% equity for pricing to work out. Credit score as low as 500, DTI up to 55%, wide range of amortization terms and max loan amount depends on the county. You can lower your rate, change your loan terms and take cash out. Primary Residence Only. 

VA Loan Limits

VA follows the loan limits set by Fannie Mae for conventional loans. Use this map to see the loan limit in your area.  

VA follows the loan limits set by Fannie Mae for conventional loans. This PDF will show you the loan limits by County.  

Tools and Resources

The VA funding Fee is a one-time fee charged with your closing costs when doing a VA loan. We built a page that goes over this VA funding Fee. 

Use this mortgage calculator to see what your total monthly payments could be. The graphs will help you see the entire cost of the mortgage per month, per year and the life of the loan. 

Allowed Property Types

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