VA Home Loan

VA mortgage loan options are home loans backed by the U.S. Department of Veterans Affairs (VA) that provide affordable home financing options for eligible service members, veterans, and surviving spouses. Here at Fairway, we are proud to help our service members and veterans achieve the American dream of homeownership.

What Is a VA Mortgage Loan?

A VA mortgage loan is a home loan that is guaranteed by the U.S. Department of Veterans Affairs. A VA loan makes it easier for veterans, active duty military members and eligible surviving spouses to purchase or refinance their home because it typically doesn’t require a down payment.*

The VA offers this benefit to honor the service and enhance the lives of those who have served or are serving their country. The flexible VA mortgage loan guidelines make homeownership more attainable for active service members, vets and surviving spouses who might not qualify or who might not see loan terms as favorable with a Conventional loan.

*A down payment is required if the borrower does not have full VA entitlement or when the loan amount exceeds the VA county limits. VA loans subject to individual VA Entitlement amounts and eligibility, qualifying factors such as income and credit guidelines, and property limits.

VA Mortgage Highlights

VA home loans often require no down payment* and help keep your savings secure and offer more flexibility for active-duty military personnel, veterans and eligible surviving spouses. They also feature:

  • No prepayment penalties
  • No private mortgage insurance (PMI)
  • 100% financing with full VA entitlement*
  • Fixed- and adjustable-rate mortgages
  • VA financing fees can be lumped into the total loan amount
  • A variety of eligible property types, including townhomes and VA-approved condos

*A down payment is required if the borrower does not have full VA entitlement or when the loan amount exceeds the VA county limits. VA loans subject to individual VA Entitlement amounts and eligibility, qualifying factors such as income and credit guidelines, and property limits.

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Licensing

NMLS 1387311
License 125388
Alabama License 23266
Colorado License
Florida License MBR5867
North Carolina License B-214180
Oklahoma License MB015306
South Carolina License
Tennessee License 125388

Contact Us

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

Number:
(865) 392-5450

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