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VA Loan Services in Birmingham, Huntsville & Mobile

Look no further and contact Weber Mortgage for the best VA loan rates and services in BirminghamHuntsvilleMobile, and other cities we serve in Alabama. We have been in the mortgage industry since 1999 and have created thousands of satisfied customers over the past two decades.

In addition to our superior rates and services for VA loans, our financial professionals also can provide FHA, conventional, non-qualifying, and other types of home loans. From the first contact to the final closing, your biggest investment is our priority at Weber Mortgage. We make your home loan process clear and straightforward to help you secure your dream home in AdgerJasperMidway, or Newton. When you need our services, contact us online or give us a call at 205-751-8583 to take the first step toward owning your dream home.

Requirements to Avail a VA Loan

Requirements for a VA Loan

A VA loan is unique because it provides a no-down-payment loan option that was created especially for qualified veterans, service members, and their spouses. VA loans are backed, or guaranteed, by the Department of Veterans Affairs. There are different loan types with fixed or adjustable interest rates and a range of loan terms.

To qualify for a VA loan you will need the following items:

  • A Certificate of Eligibility.
  • A minimum FICO® Score of 620.
  • A debt-to-income ratio (DTI) of no more than 60%.
  • Money to cover the funding fee charged by the VA.
  • You or a spouse must move into the home within 60 days. There are exceptions to this, including deployment.
  • It must be your primary residence, not a vacation or rental home.
Benefits of VA Loans

Benefits of VA Loans

VA loans help make buying or refinancing a home more affordable for veterans, active-duty military personnel, and family members who qualify. Benefits of the VA home loan program include:

  • 0% down payments
  • Competitive rates
  • No minimum credit scores
  • No private mortgage insurance
  • Faster refinances than conventional loans
  • Benefits for surviving spouses
VA Loans vs. Conventional Loans

VA Loans vs. Conventional Loans

VA loans are a great choice for veterans who want to live in the house they are buying. Compared to conventional loans, VA loans have no down payments, no minimum credit score requirements, competitive interest rates, no private mortgage insurance, and more. You can only buy a primary residence with a VA loan. You can't use a VA loan to purchase a vacation home, investment property, or rental property. Also, VA loans have limits on the amount of money you can borrow. 

Conventional loans also have limits, although borrowers who qualify may be able to get a jumbo loan to buy more expensive properties. In addition, a homeowner can use a conventional loan to purchase property for an investment, such as vacation or rental property.

Both VA and conventional loans have additional costs added to their loans. Conventional loans have an application fee and closing costs. VA loans include a funding fee that is dependent on the amount of your down payment. This fee can be rolled into the closing costs.

Let Weber Mortgage Fund Your VA Loan in Oakman, Ragland, & Birmingham

The perks of homeownership are many, and a VA loan helps make that dream a reality for many veterans, active-duty military personnel, and family members who qualify. At Weber Mortgage, our family-owned company helps all types of homeowners, including veterans, land the home of their dreams at a price they can afford. To learn more, contact us online or give us a call at 205-751-8583 to take the first step toward owning your dream home. We serve customers in BirminghamHuntsvilleMobileOakman, Peterson, Ragland, and other cities throughout Alabama.