VA Loans in Kentucky

As a retired or active member of the military, your VA benefits may include the opportunity to buy a home or refinance with a VA mortgage. If you qualify, you can move into a home in Kentucky or elsewhere with no down payment. Let’s explore the features and benefits of VA loans.

What is a VA Loan?

A VA mortgage is a home loan that is backed by the Department of Veterans Affairs (VA).

It benefits you for the VA to back your loan, because the VA is removing some of the risk for your lender.

As you likely know, lenders offer the best terms to the least risky borrowers. That means that even if you do not have perfect qualifications, with a VA loan, that does not stop you from getting competitive financing.

Benefits of VA Mortgages in Kentucky

• Buy a home in Kentucky with zero down. You do not have to keep waiting to attain the dream of homeownership.
• Pay affordable rates.
• Your closing costs are capped, so the amount of money you need to pay upfront is limited.
• Unlike with an FHA loan or conventional loan with a low down payment, you do not have to pay for mortgage insurance.
• If you refinance using a VA loan, no appraisal is necessary unless discount points are charged.
• The funding fee can be waived for eligible disabled veterans.

Do You Qualify for a Kentucky VA Loan?

You need to meet the basic qualification requirements to get a VA mortgage:

• You need to be one of the following to apply for a VA mortgage: a veteran, an active-duty service member, or an eligible surviving spouse. All military branches plus the National Guard or Reserve are welcome.
• You will need a Certificate of Eligibility (COE). This is not something you have to do yourself; we can take care of it.
• You need to meet the minimum service requirement. Although the length of the requirement is contingent on when you served, it is usually 90 days of active duty wartime service or 181 days of continuous active duty peacetime service. You do not have to look this up on your own; we can do it.
• Your credit score, DTI ratio, income and employment will be taken into account.

Apply for a VA Loan in Louisville or Beyond

Discover if you are eligible to move into a home with a zero down VA mortgage. Please give us a call at (502) 657-4299 to schedule your mortgage consultation. We can help you apply for a VA mortgage in Kentucky, Tennessee, Indiana and Florida.