Arizona VA Loans provide eligible Veterans and eligible surviving spouses with beneficial terms. VA mortgages require 0% Down, no monthly mortgage insurance and offer competitive interest rates. VA home loans are available for purchasing, refinancing and renovating a home.
VA home loans provide those that currently serve and that have served our nation with excellent home loan options. You may have questions regarding your VA mortgage options. For example:
- How do I know if I am eligible for a VA home loan?
- Is a VA home loan right for me?
- Am I approved for a VA home loan?
- How much could I borrower with a VA home loan?
- What benefits does a VA loan offer versus a Conventional or FHA loan?
We want to answer all your questions as well as help you understand which loan is best for you. While in many cases, a VA mortgage best suits veterans there are scenarios where you may benefit from considering alternative options as well. Let’s start with a basic outline of how a VA Home Loan can benefit you.
Arizona VA Home Loan Benefits
Veterans benefit greatly from utilizing their VA home loan options. From down payment to interest rates, VA often provides veterans with a very competitive mortgage option.
- $0 Down Payment
- Flexible Debt to Income Ratio
- Flexible Credit Guidelines
- Competitive Mortgage Interest Rate
- VA Loan Can Be Used Multiple Times
- Veterans Can Have Multiple VA Loans At a Time Learn more
- No Pre–Payment Penalty
- Check out more VA mortgage on The HOUSE Team Blog
Arizona VA Home Loan Rules
What can an Arizona VA loan be used to buy?: Primary residence
Maximum Loan Amount: Learn more
Down Payment Requirement: 0% of lower of the price/appraised value
Available Loan Terms: 5yr or 7yr ARM, 15 and 30 year fixed mortgage*
Is Monthly Mortgage Insurance Required?: No
Are there property Eligibility Requirements: Yes Learn more
Income Eligibility Requirements: No minimum or maximum income limits
Maximum Debt to Income Ratio: Contact us for more information
Minimum Required Credit Score: Contact us for more information
Are Seller Paid Closing Costs allowed: Yes Learn more
Are gift funds allowed?: Yes Learn more
Arizona VA Loan Resources
Get Pre-approved for a VA Mortgage Today
History of the VA Home Loan Program
“VA” stands for Veterans Affairs. The VA began insuring home loans for veterans in 1944. This was done to combat the devastating aftermath associated with war. The VA does not fund, approve or close VA Home Loans. However, the VA creates the rules that Arizona VA mortgage lenders follow. VA also insures each VA home loan. This makes it possible for lenders to provide veterans with this amazing home financing option. To date, the VA has insured over 18 million VA home loans. A VA home loan is an outstanding option to purchase or refinance a home.
Team Phone: 602.435.2149
Team Email: Team@JeremyHouse.com
*5/1 ARM – Has a fixed interest rate for the first 5 years, after which the rate can change once every year for the remaining life of the loan. When the rate changes, your monthly payments will increase if rates go up and decrease if rates fall.
*7/1 ARM – Has a fixed interest rate for the first 7 years, after which the rate can change once every year for the remaining life of the loan. When the rate changes, your monthly payments will increase if rates go up and decrease if rates fall.