Nevada VA Home Loan Page:

The VA Zero Down Home Loan is one of the best kept secrets in lending.  In the past, many 100% Financing options over shadowed this mortgage loan but recently we have seen a tremendous resurgence especially in the Las Vegas and Las Vegas, NV area.  This loan is quite simple to understand and qualify for.

Contact me at 702-808-8328 or EMAIL ME for a fast response!

VA Home Loan Features:

• No Down Payment
• No Income limit
• The Loan is Guaranteed by the Government (This is the banks reassurance that in case of default they may still be able to recoup their money)
• No upfront or monthly Mortgage Insurance
• This loan may be assumed by a qualifying person

VA Home Loan Requirements:

• Military veterans, active duty person's, and members of the national guard or selected reserves are eligible
• Qualifying persons must submit VA Form 26-1880, along with proof of service (DD Form 214, a statement of active duty, or proof of participation in the national guard or reserves) to the VA Eligibility Center (I can help you with this using our ACE System).
• Based on the applicant's length and type of service, VA issues a certificate for each person determined eligible to apply for a VA guaranteed home loan.
• A VA Funding Fee is required to be paid to the VA (This fee can be financed into the Mortgage Loan)

Automated Certificate of Eligibility (ACE) System:

Gone are the days of having to request a Certificate of Eligibility through snail mail.  Now, our office has direct access to the VA's Automated Certificate of Eligibility (ACE) system.  In most cases, we can pull a Certificate of Eligibility in a matter of minutes. 

VA Funding Fee:

A VA funding fee is required to be paid to the VA for funding the loan.  This fee covers administrative costs to the VA for providing this benefit.  This fee is a percentage based on the total financed mortgage loan amount currently the VA funding fee is:

VA Funding Fee Chart (Current as of 11/05/2007)	Funding Fee %	Reservist FF % *
Purchase Loan Zero Down (includes HARMS)	2.15%	2.4%
Subsequent Loan (incl. HARMS)	3.35%	3.35%

For example, if you are active duty military and have not previously used you benefit before, you are financing $100,000 for the purchase of a new home with the VA Zero Down Home Loan.  Your VA Funding Fee (2.15%) would be $2,150.

Do I always have to pay the VA Funding Fee?

No.  If you have a Service Related Disability or for some refinances the Funding Fee is waived.

Do I have to use the Zero Down Benefit?

No, you can also use the benefit with 5% or 10% down or more at a discounted funding fee.

So, as long as I am a qualified Veteran can I get a Zero Down Home Loan?

Well, you still have to qualify like you would a regular loan i.e. employment qualifications, income qualifications, provide ability to repay, etc. but the VA makes many exceptions for it's Veterans.  If you have questions about qualifications to buy or refinance a home please call me right away at 702-808-8328 or use one of the buttons below so we can get the process started!.

Did the VA Loan Limit increase?

Ginnie Mae, who is the government chartered corporation that insures VA Loans, has raised their loan limits.  Their new loan limit for VA Loans is $650,000.  This new loan limit is terrific for the Las Vegas market, as the prices are a bit higher than the rest of the country.  Even though the VA Loan limit has been raised, loans that are above the conforming loan limit, $417,000, do not carry the same guidelines as a traditional VA Loan.  The qualifying veteran is required to cover 25% of the difference above $417,000. 

For example, if you a buying a Las Vegas home for $480,000 with a VA Loan, the VA will fully insure the first $417,000 and then they will insure the remaining $63,000 as long as the Veteran comes in with 25% or $15,750 of that $63,000.

I think I am eligible for the VA Zero Down home Loan.  What do I do now?

Terrific!  Contact me right away so we can get you pre-approved for a VA Zero Down Home Loan.  You can call me at 702-808-8328 or use one of the buttons below so we can get the process started!

 Contact me at 702-808-8328 or EMAIL ME for a fast response!