Floor Rate Mortgages has nothing but respect for the brave men and women who have served our country in the past, as well as those who are currently serving in our military. Floor Rate Mortgages is a henderson mortgage company that is a certified VA lender. They are experienced, compassionate and understanding of many of our veterans special needs. Most importantly, Floor Rate Mortgages is willing to work hard to get the right choice of home loans henderson offers for our local veterans.
The VA Standard Purchase Loan is the right Loan for Veterans looking for the Following Criteria:
- Veterans who are looking to purchase a primary residence.
- Veterans who are looking to borrow up to 100% of the purchasing price of a home.
- Veterans who are looking to put 0% down payment on their new home.
Zero Down Payment
The most attractive feature of a VA Standard Purchase Loan is that it provides veterans who qualify with the ability to buy a home without having to put a down payment on it.
No Monthly Insurance Premiums to Pay
Another great feature of the VA Standard Purchase Loan is that there are no monthly mortgage insurance premiums to pay. This is especially helpful to service members and their families who need to relieve some of the monthly financial burdens of buying a home.
What Does it Take to Qualify for a VA Purchase Loan
In order to qualify for VA Standard Purchase Loan members of the military must show proof of the following:
- Individuals must prove they have completed at least six years working for the Selected Reserves or National Guard
- Individuals must prove they have received an honorable discharge
- Individuals must prove they are continuing to serve in the Selected Reserves.
- Individuals have not completed at least six years may still be eligible if they were discharged for a disability while still in service.