Veterans Home Loan

Commitment

Welcome to Homes-By-Holmes Real Estate

The VA is committed to assisting Veterans, Servicemembers, and eligible surviving spouses in achieving homeownership. Through our home loan guaranty benefit and other housing-related programs, we aim to facilitate the purchase, construction, repair, retention, or adaptation of homes for personal occupancy.
VA Home Loans are extended by private lenders, including banks and mortgage companies. By guaranteeing a portion of the loan, the VA empowers lenders to offer more favorable terms to borrowers.
Before embarking on your homebuying journey, we encourage you to review the VA Home Loan Buyer's Guide. This resource equips you with valuable insights into the homebuying process and helps you maximize the benefits of your VA loan.
At Homes-by-Holmes, we strive to enhance affordability and minimize out-of-pocket expenses for Veterans. By layering the VA loan with a $15,000 grant or DownPayment Assistance, we aim to achieve more manageable payments and reduce upfront costs. While Veterans are responsible for their personal closing costs with a VA loan, our goal is to negotiate with lenders to cover as much of these expenses as possible, ensuring a smoother and more affordable homebuying experience for our Veterans.

Benefits of a VA Loan

VA DOES NOT DO THE FOLLOWING

VA DOES NOT DO THE FOLLOWING

Equal opportunity for all qualified veterans

No down payment

(unless required by lender or purchase price is more than property's reasonable value)

Buyer is informed of reasonable value

Negotiable interest rate

Ability to finance the VA funding fee

Closing costs that are comparable with other financing programs (and maybe lower)

No mortgage insurance premiums

An assumable mortgage

Right to prepay without penalty

For homes inspected by VA during construction, a warranty from the builder and assistance from VA to obtain the cooperation of the builder

VA assistance to veteran borrowers in default due to temporary financial difficulty

VA DOES NOT DO THE FOLLOWING

VA DOES NOT DO THE FOLLOWING

VA DOES NOT DO THE FOLLOWING

VA cannot guarantee that a lender will provide you with a loan.

VA cannot compel a lender to make a loan that would violate their lender policies or VA income and credit standards.

VA cannot guarantee that a home is free of defects. It is the veteran's responsibility to assure that he/she is satisfied with the property being purchased.

The VA appraisal is not intended to be an "inspection" of the property. A veteran should seek expert advice (a qualified residential inspection service), as necessary, BEFORE legally committing to a purchase agreement.

If you have a home built, VA cannot compel the builder to correct construction defects, although VA does have the authority to suspend a builder from further participation in the home loan program.

VA cannot guarantee that a veteran is making a good investment.

VA cannot provide a veteran with legal services. Customers have questions, you have answers. Display the most frequently asked questions, so everybody benefits.