EST. 2024 — MODERN LENDING
VA Home Loans
An exclusive, zero-down-payment mortgage benefit provided by the government to honor and support active-duty service members, veterans, and eligible surviving spouses.
Is a VA loan right for you?
VA loans are government-backed loans intended to help eligible service members, veterans, and military spouses to purchase homes. These loans come with great rates and payment terms, and require no down payment. Are you an active military member, veteran, reservist, or surviving spouse? You may be eligible for a VA loan!
Benefits of a VA loan
- No money down: Purchase or refinance at 100% of the home’s value.
- Fast processing:Â Let our VA team guide you through a fast and easy process.
- Multiple uses: Use your VA loans to purchase property, refinance an existing loan, and even to build or improve your home.
- Save on mortgage insurance: VA loans don’t require mortgage insurance no matter how much deposit you put down.
VA loan eligibility requirements
- Qualifying military member or veteran
- Satisfactory credit
- Sufficient income
- Purchased property must be primary residence
Check out what your monthly payment could be by using our VA Mortgage Calculator...
Our mortgage calculators are for demonstration purposes only and may not reflect actual numbers for your specific mortgage. Contact us and we will walk you through the best possible mortgage scenario for your specific needs!
Principal & Interest (P&I)
$
Taxes & HOA
$
Homeowners Insurance
$
VA Funding Fee
$
Purchase Price
$
+ VA Funding Fee
$
- Down Payment
$
Total Loan Amount
$
VA Funding Fee
$
Estimated Taxes & Insurance
Property taxes are generally estimated to be 1.2% of the home's value, but may vary based on your location. Annual homeowners insurance is roughly 0.35% of the home's value but can change based on insurer. Your loan specialist can help you determine property tax and insurance rates in your area.
VA Funding Fee
The VA Funding Fee is paid to the VA to help fund the program and varies depending on type of service, loan amount, down payment and subsequent VA Loan usage. This fee can be paid in cash at closing, but most borrowers choose to roll this cost into their monthly payments. The VA Funding Fee is waived for Veterans entitled to VA compensation for a service-connected disability and surviving spouses of Veterans who died in service or as a result of a service-connected disability.
Amount Financed
Purchase Price (-) Down Payment (+) VA Funding Fee.
Estimated Payment
$ /mo
Loan amount
$
VA Funding fee
$
VA Funding fee percentage
Down payment
$
Interest rate
Loan term
Taxes & insurance included?
Property tax
Homeowner's insurance
$
HOA dues
$
Payment Breakdown
Amortization
Principal vs. Interest
Amortization Schedule Breakdown
Our detailed amortization schedule breaks down your mortgage payments, showing how they are split between interest and principal over the life of your loan.
Note: The actual monthly payment may be higher than what is shown here, as this schedule does not account for variable costs such as property taxes and home insurance, which are often included in your total mortgage payment.
- Principal payments: $$240,000 (the amount borrowed)
- Interest payments: $$297,554 (the cost of borrowing)
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— EXPLORE
Find Your Perfect Mortgage
No matter what your situation is, there is a home financing solution for you. We are ready to guide you through your options and get you the best deal possible! We specialize with non-traditional buyers, investors, and entrepreneurs.
INVESTOR FOCUS
01
DSCR
Designed for real estate investors, this program qualifies borrowers based on the rental income generated by the property rather than personal tax returns or employment history.
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NO TAX RETURNS
02
Bank Statement Loans
Ideal for self-employed individuals, this program uses 12 to 24 months of personal or business bank statements to verify income, bypassing the need for W-2s.
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BUSINESS OWNER
03
Self-Employed / Entrepreneur Loans
Flexible financing solutions tailored specifically for business owners, independent contractors, and freelancers whose unique financial structures require alternative income verification.
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NON-TRADITIONAL
04
Non-QM
A versatile alternative lending solution for borrowers with unique financial situations, allowing for flexible qualification guidelines outside of standard conforming rules.
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POPULAR CHOICE
05
Conventional
The most common traditional mortgage option, offering competitive rates and flexible terms for borrowers with stable income and strong credit scores.
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FIRST-TIME BUYER
06
FHA
A government-backed loan designed to make homeownership accessible, featuring lower down payment requirements and more flexible credit guidelines for buyers.
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VETERAN BENEFIT
07
VA
An exclusive, zero-down-payment mortgage benefit provided by the government to honor and support active-duty service members, veterans, and eligible surviving spouses.
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PREMIUM
08
Jumbo
Specialized financing designed for luxury homes or high-value properties that exceed the standard conforming loan limits established by Fannie Mae and Freddie Mac.
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FIXER UPPER
09
Renovation
A convenient all-in-one loan that combines the purchase price or refinancing of a home with the funding needed to cover upgrades, repairs, or major remodeling projects.
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RURAL LIVING
10
USDA
A government-backed, zero-down-payment mortgage program designed to help low-to-moderate-income buyers purchase homes in designated rural and suburban communities.
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