ILLINOIS · MIDWEST · SUNSHINE STATES: FLORIDA, TEXAS, ARIZONA & CALIFORNIA
VA loans
Put your earned home loan benefit to work.
VA-backed mortgages help eligible Veterans, service members, and certain surviving spouses finance a primary residence. A Certificate of Eligibility helps establish your benefit, while the lender evaluates the mortgage application.
Discuss va loansWho can explore VA home financing?
Eligible veterans, service members, and certain surviving spouses may explore VA-backed home financing. Faulkner Financial Group helps compare available options through Barrett Financial Group LLC, NMLS #181106. VA eligibility is separate from lender approval; income, credit, occupancy, property, closing costs, and any applicable funding fee still require review for the specific transaction.
On this page
Who may find this useful
- Eligible military borrowers buying a home they plan to occupy.
- Homeowners exploring eligible VA refinance options.
What lenders typically review
- Certificate of Eligibility, available entitlement, credit, income, and residual income.
- Purchase price, appraised value, property requirements, and occupancy plans.
- Closing costs and any applicable VA funding fee; exemptions may apply.
PAYMENT STRATEGIES
Explore a temporary buydown.
A temporary buydown uses funded subsidies to reduce your initial out-of-pocket principal and interest payments. It does not change the mortgage’s note rate. With a typical 2-1 structure, payments are calculated at two percentage points below the note rate in year one, one point below in year two, and the full note rate from year three onward.
Seller contributions may help fund an eligible buydown, subject to program limits and lender approval. Ask whether any lender-funded options are currently available. Plan for the full payment after the subsidy ends; a future refinance or lower market rate is not guaranteed.
Ask about current buydown optionsCommon questions
Can a VA loan have no down payment?
Many eligible purchases can be financed without a down payment, depending on entitlement, appraised value, and lender requirements. Closing costs may still be due.
Is monthly mortgage insurance required?
VA-backed loans do not require monthly mortgage insurance. A VA funding fee may apply unless you qualify for an exemption.
Let’s review your next step.
Talk with our team about eligibility, documentation, estimated costs, and lender options for your property.
Contact Faulkner Financial GroupConnect with Jindra Faulkner, NMLS #225020: (847) 401-8237 · jindra@barrettfinancial.com
Educational information only. This is not a rate quote, approval, or commitment to lend. Programs, terms, and eligibility vary by lender, state, property, and borrower. All loans are subject to underwriting.
Learn more: VA home loan benefits. External program information does not guarantee availability through our team.
Explore Chicago-area, Illinois, Wisconsin, Arizona, California, Florida, and Texas home financing · Services subject to applicable licensing.
Content updated · Published by Faulkner Financial Group LLC. Contact Jindra Faulkner, NMLS #225020, with content questions.
Buying after a credit event?
Review waiting periods after bankruptcy, foreclosure, short sale, or deed-in-lieu, plus the dates and documents to prepare.
Explore the credit waiting-period guide