Your Lake of the Ozarks Mortgage Lender: VA Loans

Why Should You Choose VA?

At Flat Branch Home Loans, we strive to provide homes for those who have sacrificed everything so we can live peacefully. If you’re an active, discharged or medically discharged veteran, and have ever thought to yourself: “I’d like to use my benefits for a home loan,” we have a great, in-house opportunity as a thank you for your service:

Designed to promote homeownership, the U.S. Department of Veteran Affairs (VA) loan is made by lenders and guaranteed for eligible veterans to purchase their dream home.

Despite its broad resources, only 10% of the 25 million veterans have taken advantage of this benefit. This loan is meant to honor our heroes, and we want to make sure every eligible veteran and active member know how this loan works and when it works best, so they can live the life they deserve.

What Is It?

The U.S. Department of Veterans Affairs wants to help service members, veterans, and surviving spouses become homeowners. VA provides a home loan guarantee benefit and other housing-related programs to help you build, repair and retain your dream home. And with less stringent rules, 80% of VA borrowers who otherwise could not be covered by conventional loans were able to purchase their home.

This gift has built-in protections for those who’ve protected us, which leads to more competitive rates and terms for our nation’s heroes.

What Makes It So Great?

No Down Payment / 100% Financing

It’s nearly impossible to find a loan product that gives the borrower full financing. This is the most significant benefit of the VA as it gives the borrower the power to purchase a home with no money down.

No Monthly Mortgage Insurance

No private mortgage insurance (PMI) means monthly payments are more affordable.

Not Limited to First-Time Home Buyers

A VA loan can be used to finance your entire purchase or refinance. This hard-working loan can even help repair and improve your home, too, with energy-saving features such as solar heating, water heaters, insulation, storm windows, and other efficiency improvement loans approved by both the lender and the VA.

And there’s even more:

No prepayment penalties
Counseling and assistance in the event of financial difficulty
Lower credit score requirement
Higher allowable debt-to-income ratios than most other loans
Potential for two VA loans at the same time

But Do I Qualify?

Both veterans and active-duty service members may qualify.

But fitting into just one or more of these categories will be enough:

Military members who have served 181 days on active duty or three months during war time
People who have spent at least a half-dozen years in the National Guard or Reserves
Spouses of fallen heroes

We work hard to ensure that we are able to give back to as many of our heroes as possible, so their dream home is achievable and within reach. Even if you think you’re not qualified for an VA loan, contact Michael Lasson or Michelle Lasson, with Team Lasson, at Flat Branch Home Loans (who are VA-approved) to find out for sure.

Team Lasson is here for all of your home buying needs! If you’re thinking about making the leap into home ownership in the near future, please contact us today to get started. We can help you determine what loan program works best for your financial goals. The first step in preparing for your big purchase is to get pre-approved for a mortgage at Lake of the Ozarks. Please visit www.yourlakeloan.com or give us a call at (573) 216-7258 to get started.