Arizona VA Loans

Secure a VA Mortgage Arizona

If you’ve served in the US Armed Forces and you’re ready to purchase a home, check out your options for an Arizona VA Mortgage. All VA loans are guaranteed by the federal government.

Jump to: Eligibility | Loan Limits

What is the VA Loan?

VA loans are very similar to other loans, but they are given special status by the government and are available solely to veterans.  You can save significant money with a VA loan.  When a government entity, such as the Department of Veteran Affairs (VA), backs a mortgage, the lender offering the mortgage takes on less risk.  As a result of this, the lender can offer you better mortgage rates and terms.  The goal of the VA loan program is to allow more veterans and their families to purchase homes without having to suffer from high interest rates and other high fees.

VA Loan Benefits in Arizona

It’s easy to secure a VA loan in AZ.  You don’t need to worry about the stress of a conventional mortgage.  There are many benefits attached to the VA home loan.  The biggest benefit is that you don’t have to make a down payment.  If you’ve served in the military, you may not have been able to save up all the money needed for a conventional down payment.  Other benefits of an Arizona VA loan include the following.

• You don’t have to pay for private mortgage insurance.
• Credit score requirements aren’t as tight as with conventional mortgages.
• You can pay the mortgage off as early as you want.  There is no prepayment penalty.
• A variety of loan term lengths and mortgage types are available.  You can select the loan package that meets your needs.

VA Loan Requirements and Eligibility

There are specific requirements that you must meet in order to qualify for a VA loan.  These requirements are listed here.

• You must be a US Armed Services veteran.
• You must not have been dishonorably discharged at any time.
• You must have served continuously for a period of at least 90 days.
• Have a credit score of at least 620. 

Once you know whether or not you qualify, contact a VA loan specialist to see what other requirements are necessary.  The specialist can help you obtain a certificate of eligibility from the VA office.

VA Refinance

An Arizona VA Streamline refinance, or VA IRRRL, can save you significant money over the life of your mortgage.  It allows you to replace your current mortgage with a new mortgage at a lower interest rate.  Lower rates converts to high savings for you.  You may even be able to pay off your mortgage faster.  Because the VA refinance is streamlined, the process is faster and cheaper than a conventional refinance.

Another refinance option is the VA Cash-Out refinance, in which borrowers are able to withdraw home equity in the form of cash. The funds can be used for any purpose, and up to 100% of your equity can go back into your hands. 

Arizona VA Mortgage Rates

We know that you need to focus on finding the best home for you and your family.  Let us handle matching you with the best mortgage lenders in your area.  We stay up to date with the lowest mortgage rates and the best loan deals available through our network of lenders.  Fill out the form above to get started on your VA mortgage.

VA Lenders in Arizona

If you want to research Arizona VA lenders, we can help you.  The best way to determine your VA loan options and to find out if you qualify is to contact a local lender who will know the details of the VA program as well as the VA loan limits for your area.  You can find additional information on the VA website.

Arizona Military Information

Arizona has four military bases. They are Davis-Monthan Air Force Base, Luke Air Force Base, Fort Huachuca, and Yuma Proving Ground.  Davis-Monthan Air Force Base is located in Tucson while Luke Air Force Base is located in Glendale.  Fort Huachuca is located in Sierra Vista. These military installments are where VA loan applicants in Arizona often work and reside.

VA Loan Lending Limits in Arizona

Lenders in: Arizona.