VA Home Loans
As a servicemember or veteran of the United States military, your duty has been to support and defend our country. FM Lending Services proudly salutes your commitment, and we stand ready to help you reach your home financing goals with a VA Home Loan.
With many veterans returning home and in need of housing within the communities we serve, we would like to extend not only the advantages of a VA home loan, but also additional incentives to help lower the cost of purchasing a home:
Features of a VA Home Loan:
- No down payment if the purchase price does not exceed the appraised value of the home
- No monthly mortgage insurance requirement1
- No prepayment penalty for loans paid off early
- Closing costs are limited by the VA and may be paid by the seller
Other Benefits for Veterans:
- Purple Heart - If you are an active duty Servicemember who has earned a Purple Heart, your funding fee can be waived if you close on your home while still serving on active duty.
- Higher Loan Limits - Veterans will have greater access when using their no-down payment home loan benefit. Our VA home financing allows loan amounts up to $1.5 million.
- Native American Direct Loan - This law removes the former loan limit of $80,000 for Veterans using their entitlement for a VA Native American Direct loan to build or purchase a home on Federal trust land. Eliminating the loan limit enhances access to home loan benefits for Native American Veterans.
Incentive Offers available through December 31, 2022 include:
- No loan origination fee (up to $1,395 value) through FM Lending
- Lender credit toward appraisal (up to $800 value)2
A Dedication to Service
FM Lending Services continues to place our men and women in uniform at the forefront of our new ideas and promotions. Since the program's inception, our exclusive VA loan program has accomplished the following:
- Over $6 million in appraisal savings
- Over $14.1 million in origination savings
- Total borrower savings of over $20.2 million
- Over 13,500 military families served
FM Lending Services is not affiliated with or endorsed by any government agencies.
1. Generally, all Veterans using the VA Home Loan Guaranty benefit must pay a funding fee. The funding fee is a percentage of the loan amount which varies based on the type of loan and your military category, if you are a first-time or subsequent loan user, and whether a down payment is made. The VA funding fee may be financed or paid in cash at the time of closing.
2. Borrowers are eligible for a lender credit toward closing costs on the Closing Disclosure on a new purchase, secured by a first mortgage or deed of trust (New Loan), subject to qualification, approval and closing with FM Lending Services. Loan must close within 90 days from the date of loan application. Discount may not exceed $800 for appraisal. This offer must be presented at time of application and all eligibility requirements met no later than 2 days prior to the New Loan closing date. This discount is void where prohibited and is non-transferable, subject to the terms herein, and valid on all complete applications received on or before 12/31/2022.
Not all incentive offers are available in all areas. All Incentive offers valid on complete VA home loan applications received between 11/01/2021 and 12/31/2022. Loan must close within 90 days from the date of loan application. Only one discount permitted per New Loan. Contact local Mortgage Consultant for details.