For service members and veterans looking to buy, refinance, or even make energy efficient renovations to a home, Keystone Alliance Mortgage has the loan for you.

While the Federal Government guarantees these loans, this doesn’t necessarily mean the government is making direct loans itself. That’s why it’s important to find a VA-approved lending institution like Keystone Alliance Mortgage.

It should be stated too, that the VA Loan does have a limit. In most counties, $417,000 can be borrowed without a down payment.

You Should Know:

There is a VA funding fee. However, this should not deter you from using a VA Home Loan. This fee actually goes directly to the Department of Veterans Affairs to ensure future military homebuyers the same opportunity to purchase a home as we have today. This fee, typically 2.15%, can be merged with the overall amount borrowed.

Did You Know?

VA loans aren’t just for purchasing a home. You can also renovate a new home or repair your existing home with a VA home renovation loan. You can purchase and renovate your home with one loan and get all the benefits offered with the traditional VA home mortgage.

Up to 100% of the home’s value may be borrowed for qualified buyers. While we know some of you may be thinking, oh no, my credit; don’t sweat it. Even if you’re having financial difficulties, it’s worth considering a VA Home Loan as the Department of Veterans Affairs Insurance Service provides beneficiaries with free, professional financial counseling to those in need.

If you’re looking to use the VA Home loan a second time, you’re in luck. VA eligibility is restored when a servicemember or veteran has paid back their loan and the property is no longer owned. If a military homebuyer is looking to purchase a second home, it is possible to use their remaining entitlement; however this does max out at $89,912.

The Federal Government backs all VA Home Loans and assumes the lender’s risk on behalf of the borrower in case of default. This means that even if you’re not able to make a down payment, you can avoid having to purchase private mortgage insurance.

Again, because the Federal Government backs all VA Home Loans, the lender assumes less risk, which means you may be able to land a lower interest rate!

A Certificate of Eligibility is required. However, banks may be more flexible when lending to military homebuyers even if they have less-than-perfect credit or a limited employment history.