You’ve earned this benefit!
•Are you a veteran, member of the military, or a surviving spouse of a veteran?
•Do you want fast approval and minimal red tape?
•Are you interested in refinancing up to 100% of your home, or buying a home with no down payment?
If you answered “yes” to any of these questions, a VA loan might be right for you! Qualify for VA loans even with less-than-perfect credit. Unlike other options, VA loans are available as either fixed-rate or ARM mortgages – and never include monthly insurance (PMI).
Why a VA Loan?
It's simple ... Lower Rates. Lower Payments. $0 Down.
Find out why thousands of people are using their VA Loan benefit every single month. Allow us to help you lower your monthly payment, lower your interest rate and purchase a home with $0 down.
Purchase with $0 Down
A VA Loan is one of the only loan programs that still allows the borrower to finance 100% of the home's value and purchase with $0 down. Now more than ever banks are requiring large down payments for conventional loans. In many cases they require 10-20% down, putting home ownership out of reach for many prospective buyers.
How much will $0 down save you? Conventional loans will require a minimum of 5% down, and in many cases as much as 10% and 20%.
Lower Your Monthly Payment
A VA Loan offers two benefits that will substantially lower your monthly payment. PMI, or private mortgage insurance is not required on a VA loan. PMI is an added monthly expense required for conventional loans where the borrower finances more than 80% of the home's value. You'll also be able to take advantage of low, competitive rates.
Getting Qualified is Easier
The qualification guidelines are less stringent for VA Loans. Because the loan is backed by the government, banks have relaxed the often strict lending rules for VA Loan applicants making them easier to obtain.
Iowa Finance Authority
Iowa Finance Authority offers an Military Homeownership Assistance Program for eligible Veterans. Ruhl Mortgage is a IFA participating lender.
For more information please visit Iowa Finance Authority.