VA Home Loan

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Who is Eligible for a VA Loan?

You may be eligible for a VA loan by meeting one or more of the following requirements:

  • You served 90 consecutive days of active service during wartime.
  • You served 181 days of active service during peacetime.
  • You have 6 years of service in the National Guard or Reserves.
  • You are the spouse of a service member who has died in the line of duty or as a result of a service-related disability.

Documents you may need:

  • DD214 or NGB22
  • Statement of service letter
  • Government issue ID

Variety of VA Loan Types

VA Purchase Loans

VA purchase loans are one of the most used financing options by Veterans. Veterans use this type of loan to purchase a primary residence.

VA Interest Rate Reduction Refinance Loan (IRRRL)

VA IRRRL loans, sometimes referred to as a VA Streamline refinance, are an excellent option for Veterans who want to lock into a lower interest rate or refinance out of an adjustable-rate VA loan. This option is only for Veterans with active VA loans.

VA Cashout Refinance

VA Cash-Out refinance is for Veterans who want to take equity out of their home in return for cash. VA loan holders can use this money to pay off debts, make home improvements, or in case of emergency. Veterans can use this option to refinance non-VA mortgages.

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Licensing

NMLS# 1387311
License #125388

nmlsconsumeraccess.org

Legacy Parks

Contact Us

Foundation Mortgage
2160 Lakeside Centre Way
Suite 100
Knoxville, TN 37922

Number:
(865) 392-5450

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