Meet VA-defined Reserve/National Guard specifications WITH 6-year service OR 90 days of active service.
You are a spouse of a service member that died in the line of duty, or has a qualifying service-related disability.
Match suitable credit, income, employment requirements and have a Certificate of Eligibility
Advantages of VA Loans
Lower RatesLow interest rates on VA home loans make a mortgage from BBMC more affordable to you.
Lower FeesVA loans are loaded with cost-cutting benefits to lower your payment at closing.
No Down PaymentInsured by a federal guarantee, a VA loan never requires down payment on the principle balance.
Relaxed QualificationsIncome and credit requirements are less strict to help veterans find a home they want and can afford.
Of the 20+ million active duty service members and veterans with mortgages,a 2014 report shows less than 12% are utilizing their VA mortgage benefit*.
VA Loans vs. Conventional Loans
VA Loans are mortgages from approved lenders – like BBMC Mortgage – with a federal guaranty. More than 20 million veterans and their families have benefited from VA loans for more than 70 years. BBMC’s mission is to increase that number exponentially, as we believe that too few qualified veterans and active-duty service members use their VA home loan benefits. It is our civic duty to find a home loan veterans can afford, and to help them achieve their goals of home ownership.
What are the differences for aloan?
U.S. Military Veterans or Active-Duty service members, with qualifying service records, and qualified spouses as determined by the Department of Veterans Affairs (VA).
Both VA and non-VA eligible applicants who exceed maximum USDA and FHA lending requirements with moderate-to-high income, moderate-to-high credit and strong employment history.
How To Qualify
Obtain a COE independently or with the assistance of a BBMC Banker
Must fall at or beneath median income line in prospective county of residence.
Typically reserved for rural properties.
Regulations and Fees
While the VA Loan is a federal program, the government generally does not make direct loans to veterans. Private lenders, including BBMC Mortgage, finance the loan while the Department of Veterans Affairs offers a guaranty. This guaranty provides incentive for private lenders to offer loans with better terms.
Loan Limits In most parts of the country, veterans who qualify for the VA Loan can purchase a home worth up to $453,100 without putting any money down: borrowers in high-cost counties may be able to purchase homes far exceeding that amount without a down payment. With a required minimum down payment, BBMC will authorize VA loans above county limits in excess of $1.5 million. To find out the VA Loan Limit in your area, give BBMC a call at 1-800-24-RATES.
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