If you’ve served in the military, you may qualify for quick approval with a Veterans Administration loan. Designed to offer long-term financing to eligible American Veterans or their surviving spouses.
Myth: VA loans require perfect credit scores.
Fact: Most VA lenders look for a 620 credit score.
Myth: Veterans are guaranteed a VA loan.
Fact: No one is guaranteed a loan, even service members with VA loan entitlement.
Myth: Any modern home loan requires a big down payment.
Fact: The VA loan is one of the only mortgages that doesn’t require a down payment.
Myth: You can’t get a VA loan if you have a foreclosure/bankruptcy in the past.
Fact: VA loans are more forgiving than other loan products. Getting a new conventional loan after foreclosure requires a 3-year waiting period; bankruptcy requires a 2-year wait.
Perennial Funding LLC, 161 Washington St. Suite 950, Conshohocken, PA 19428
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*By refinancing your existing mortgage your total finance charges may be higher over the life of the loan.
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