VA Home Loans Offer 100% Financing

Jul 26, 2022

What are VA Home Loans?

Veterans Affairs (VA) Home Loans are specialized mortgage loans backed by the Department of Veterans Affairs. They offer 100% financing, allowing eligible veterans and active-duty service members in Tulsa, OK, and across the nation to purchase a home without the need for a down payment.

The Benefits of VA Home Loans

  1. 100% Financing: No down payment is required, making homeownership more attainable.
  2. No Private Mortgage Insurance (PMI): Unlike other loan types, VA loans don’t require PMI, reducing your monthly payments.
  3. Lower Interest Rates: Typically, VA loans come with lower interest rates than conventional loans.

Potential Downsides

  1. Limited to Veterans and Active-Duty Military: These loans are reserved for a specific group of people.
  2. Funding Fee: Although PMI is not required, a one-time VA funding fee is typically charged.
  3. Property Requirements: Similar to FHA loans, VA loans have strict property requirements that homes must meet.

Types of VA Loans

  1. Purchase Loans: For buying a new home.
  2. Interest Rate Reduction Refinance Loan (IRRRL): For refinancing an existing VA loan to lower the interest rate.
  3. Cash-Out Refinance Loans: Allows you to take out cash against the home’s equity.

Eligibility Criteria for VA Loans

To qualify for a VA loan, you must be a veteran, active-duty service member, or an eligible spouse. Length of service, duty status, and character of service also play roles in determining your eligibility.

How to Apply for a VA Loan in Tulsa, OK

  1. Obtain your Certificate of Eligibility (COE): The COE verifies to lenders that you meet the initial qualifications for a VA loan.
  2. Find a VA-Approved Lender: Make sure to choose a lender like Kyle Bradley Mortgage that specializes in VA loans.
  3. Complete the Application: Submit all the necessary financial documents and await approval.

About Kyle Bradley, Your VA Loan Specialist in Tulsa, OK

Kyle Bradley | The Bowtie Lender VP Mortgage Banker
NMLS #488324
Kyle Bradley Mortgage
100 S. Riverfront Dr. Jenks, OK 74037
C: (918) 855-0494
E: [email protected]
www.kylebradley.com

With over 16 years in the mortgage industry, my expertise extends to VA Home Loans along with conventional, jumbo, and new construction loans. If you’re a veteran or active-duty service member based in Tulsa, OK, and you’re considering a VA loan, I can help guide you through the process, ensuring a smooth transaction that closes on time. Don’t hesitate to contact me for a personalized consultation on your mortgage options.

Get Started Today

For expert guidance on VA loans or any other mortgage-related questions in Tulsa, OK, feel free to reach out to me at (918) 855-0494 or via email at [email protected]. Let’s work together to achieve your dream of homeownership in Tulsa!