We value all Veterans service to our country and strive to deliver the utmost in personalized service to our clients searching for a VA loan in Cornelius, Mooresville, and the entire Lake Norman area.
VA Loans are unique as they offer 100% financing with no mortgage insurance.
The terms offered for VA Loans are:
- ]30 Year Fixed
- 15 Year Fixed
The maximum loan amount for a VA Loan is $417,000. VA Loans are available for higher loan amounts, known as High Balance VA loans. These loan require a down payment which is calculate according to VA eligibility, however this typically works out to about 10% down.
The minimum time that must have elapsed from the date of a previous foreclosure is 2 years. The bank that foreclosed on the property must have taken possession of the home prior to the new VA loan closing.