Indiana VA Mortgage Loans

Indiana VA Mortgage Loans

The VA home loan program is popular with veterans living all across Indiana and more veterans than ever before are utilizing the VA home loan as a way to finance their home. The VA loan program in Indiana allows veterans to buy a home with 100% financing and does not require that they pay monthly mortgage insurance. Not only are VA loans popular for buying a home for their no down payment required and no mortgage insurance – they are also popular because it is simple to refinance when the time is right with the VA streamline refinance program.

Many veterans are aware that the VA isn’t actually a lender – they only insure your loan. Should you default, the VA steps in and the lender who lent you money gets paid. Because of the insurance against loss by the VA, lenders are excited to lend money under the VA guidelines to eligible veterans.

Indiana VA Loan Highlights

• A one-time funding fee is charged on all VA loans – unless you are at least 20% disabled
• VA loan closing costs can be rolled into the loan
• 100% financing is available with a VA loan for new home purchases
• No MI (Mortgage Insurance) is required on VA loans
• Prepay penalties not allowed on VA loans

Indiana VA Loan Certificate of Eligibility

In order to qualify for a VA loan, the first step is to prove that you are eligible under the VA guidelines. To prove that you are eligible, you must have a Certificate of Eligibility from the VA and it must be in your loan package at the time of submission. If you don’t currently have a Certificate of Eligibility or need help getting it, your loan officer should be able to easily help you.

Indiana VA Streamline Refinance Program

For veterans who are currently in a VA loan, the Indiana VA streamline refinance program allows you to take advantage of lower interest rates without having to completely re-qualify for a new loan. With the Indiana VA streamline refinance, you can lower your monthly payment and interest rate with no out of pocket expenses. The VA streamline is easy by design – the intent is to just help people lower their monthly mortgage payments.

Indiana VA Mortgage Loan Experts: Contact Us

For more information about the VA loan program, you can contact us directly either by phone or email. We are happy to become your trusted expert when it comes to Indiana VA loans.