VA Loans

VA loans are a type of government loan that is backed by the Department of Veterans Affairs (VA). The VA provides guarantees to lenders originating and servicing VA loans which allow for more perks such as:

  • No Down Payment! (up to 100% financing of the purchase)
  • Lifetime  (for eligible Veterans, can be utilized repeatedly)
  • Low Closing Costs (limitations on fees from lenders and third parties)

Types of VA Loans:

  • VA Home Purchase Loan
    • No down payment on your purchase
    • Limited fees
    • Both conventional and Jumbo limits for qualified borrowers
  • VA Rate & Term Refinance
    • For those who qualify for VA & would like to refinance a non-VA loan
    • Limited cash back allowed
  • Cash-Out VA Refinance
    • Take advantage of your equity for cash
  • VA Interest Rate Reduction Refinance Loan (IRRL)
    • For VA borrowers, allows for a low-cost rate reduction
    • Less Documentation
    • Often no appraisal required

At Redmond Mortgage – we LOVE serving Veterans who served or are serving us with their sacrifice. In addition to fighting for your best interest rate, we will always pay for your appraisal should you allow us the honor of originating your VA loan.

Thank you for serving our country! Let us serve you!