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 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
Incentive Offers available through March 31, 2019! Incentive offers may include*:
- No loan origination fee (up to $1,199 value) through FM Lending
- $200 off settlement fees through an participating settlement services company2
- Complimentary appraisal (up to $525 value)3
- 10% discount off home inspection fee through US Inspect (purchase only)4
FM Lending is not affiliated with 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. Participating settlement services companies: RGS Title (District of Columbia, Maryland, Virginia); Sage Title Group (District of Columbia, Maryland, Virginia); Settlement Pros (District of Columbia, Maryland, Virginia); Mid-States title of SWVA (Virginia); Bon Air/Long & Foster Title Agency, LLC (Virginia)
3. 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. Loan must close within 90 days from the date of loan application. Discount may not exceed $525 for appraisal. Credit coupon 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 03/31/2019.
4. Home inspection services provided by US Inspect include a 10% discount and a 90-day home inspection guarantee to all Veteran borrowers obtaining VA loan financing with FM Lending. The home inspection guarantee covers items that were inspected by US Inspect and found to be operating properly at time of inspection. For limitation and exclusions, please see 90 day guarantee terms and conditions.
*Not all incentive offers are available in all areas. All Incentive offers valid on complete VA home loan applications received between 10/01/2018 and 03/31/2019. 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.