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VA Loans

Shopping for a VA Loan? Joe Wagner will be glad to help! Give Joe Wagner a call at 612-327-4544. Ready to get started? Apply Here.

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VA guaranteed loans are made by lenders and guaranteed by the U.S. Department of Veteran Affairs (VA) to eligible veterans for the purchase of a home. The guaranty means the lender is protected against loss if you fail to repay the loan. In most cases, no down payment is required on a VA guaranteed loan and the borrower usually receives a lower interest rate than is ordinarily available with other loans.

 

Other benefits of a VA loan include:

  • Negotiable interest rate.
  • Closing costs comparable – and sometimes lower - than other financing types.
  • No private mortgage insurance requirement.
  • Right to prepay loan without penalties
  • Mortgage can be taken over (or “assumed”) by the buyer when a home is sold.
  • Counseling and assistance available to veteran borrowers having financial difficulty or facing default on their loan.

Although mortgage insurance is not required, the VA charges a funding fee to issue a guarantee to a lender against borrower default on a mortgage. The fee may be paid in cash by the buyer or seller, or it may be financed in the loan amount.

 

A VA loan can be used to buy a home, build a home and even improve a home with energy-saving features such as solar or heating/cooling systems, water heaters, insulation, weather-stripping/ caulking, storm windows/doors or other energy efficient improvements approved by the lender and VA.

 

Veterans can apply for a VA loan with any mortgage lender that participates in the VA home loan program. A Certificate of Eligibility from the VA must be presented to the lender to qualify for the loan.

 



 

 

 

 

 

 

 

Have questions about VA Loans? Call Joe Wagner at 612-327-4544. It's his job to answer lending questions, so he is happy to help! We know you're busy, so feel free to complete the form below to be contacted by Joe Wagner. 

 

 

VA Limits by VALoans.com






Serving all of Minnesota.
Anoka MN, Apple Valley MN, Bemidji MN, Boundary Waters MN, Brainerd MN, Bloomington MN, Coon Rapids MN, Crow Wing County MN, Dakota County MN, Bloomington MN, Eden Prairie MN, Gull Lake MN, Hennepin County MN, Hopkins MN, Lakeville MN, Lake Mille Lacs MN, Lake Minnetonka MN, Lake Nokomis MN, Lake Pepin MN, Lake Vermilion MN, Lake Winnibigoshish MN, Leech Lake MN, Maplewood MN, Mendota Heights MN, Mound MN, Orono MN, Red Lake MN, Richfield MN, Rosemount MN, Savage MN, St Louis Park MN, White Bear Lake MN, Wright County MN.

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Today's Rates

Mtg Loan Rate APR
30-yr Fixed 3.89% 4.02%
15-yr Fixed 3.16% 3.33%
1-yr Adj 2.74% 3.4%
* national averages

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