Buy a Home
- Competitive VA interest rates
- 0% down payments for most buyers
- Minimum credit score often 550
- No mortgage insurance, one-time funding fee
Lower Your Rate
- Lower VA rates made easier through the streamline program
- No income verification or credit check
- No home appraisal
- Only VA homeowners are eligible
Get Cash from Equity
- Get cash from your home’s value
- Minimum credit score often 550
- Pay for major expenses and debt consolidation
- Only VA homeowners are eligible
0% Down Payments and No Mortgage Insurance
VA loans are a great choice for buying a home. They feature competitive interest rates, 0% down payments for most buyers, low minimum credit scores, and no monthly mortgage insurance payments. Veterans, active-duty military personnel, and surviving spouses can qualify.
Home Affordability Calculator
How Much Home Can You Afford?
When you’re thinking about buying a home, figuring out how much you can afford is a great first step. Use our home affordability calculator to get an estimate!
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Let us help you save more on your mortgage each month by lowering your interest rate. Fill out the form below and one of our licensed Loan Advisors will contact you.
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A loan advisor from Freedom Mortgage will reach out to you to review your results and discuss the request for a cash out refinance on your home’s equity.
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Based on the values you provided, you may be able to afford a home worth up to
Take the Next Step
- Get prequalified before you start shopping for your next home.
- Learn more about how much to spend on a home.
Frequently Asked Questions About VA Loans
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VA loans can make buying or refinancing a home more affordable. They feature competitive interest rates, 0% down payments for many homebuyers, low minimum credit scores, and no monthly mortgage insurance payments, although you’ll probably pay a one-time funding fee.
It can be easier to refinance a VA loan using the streamline program. VA streamline refinances can help you lower your rate and payment with less paperwork and a faster closing.
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Veterans, active-duty military personnel, members of the National Guard and Reserves, and surviving spouses can all be eligible for VA loans. You’ll often need to give your lender a Certificate of Eligibility (COE) that confirms you can apply for a VA loan.
To get your loan application approved with Freedom Mortgage, you’ll need to meet our credit, debt-to-income ratio (DTI), and financial requirements. You’ll probably also need to pay a one-time funding fee.
You must meet the VA’s occupancy requirements and the home must meet the VA’s property appraisal requirements.
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Generally speaking, when you want to buy a home or get cash from your equity with a VA loan, the home needs to be your primary residence—that is, the home where you live most of the time.
When you want to refinance your home with a VA loan, it can be enough to certify that you lived in the home as your primary residence in the past.
In most cases, you can’t buy second homes, vacation homes, or investment properties with a VA loan. You are also frequently limited to financing one home at a time with a VA loan, although there are no limits on the total number of times you can buy or refinance a home with these loans.
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The VA rate we may be able to offer is personal to you. Your interest rate is affected by your credit score, your income and finances, and the current mortgage market environment. Freedom Mortgage may be able to offer you a rate that is lower—or higher—than the rate you see advertised by other lenders.
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Freedom Mortgage can make buying or refinancing a home with a VA loan simpler. To apply for a VA loan with us, call 877-220-5533 and speak with an experienced Loan Advisor. You can also get started online by filling out our web form.
Compare Different Types of Home Loans
| Loan | Eligibility | Minimum Credit Score | Minimum Down Payment | Upfront Fees/ Insurance | Monthly Fees/ Insurance | Streamline Refinancing |
|---|---|---|---|---|---|---|
| Conventional | All homebuyers and owners | Often 620 | Often 5% | No | No with at least 20% equity | No |
| FHA | All homebuyers and owners | Often 550 | As low as 3.5% | Yes | Yes | Yes |
| VA | Veterans, military personnel, surviving spouses only | Often 550 | Often 0% | Yes | No | Yes |
| USDA | Rural and some suburban homebuyers and owners only | Often 620 | Often 0% | Yes | Yes | Yes |
Should You Put a Down Payment on a VA Loan?
While a Down Payment Is Not Required, It Might Save You Money
Should You Put a Down Payment on a VA Loan?
While a Down Payment Is Not Required, It Might Save You Money