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Here at appli we take care of our veterans upfront! As a veteran-focused lending company, it is our mission to give back to those who have selflessly served our country. We're committed to making your lending experience as smooth as possible. One of the ways we demonstrate this commitment is by covering the upfront appraisal fees for our veterans.

Our VA loans exclude fees associated with appraisals.
*applicable to all loan amounts > 250k  & on qualifying VA transactions

VA Purchase Loan

VA Purchase Loans are a special type of mortgage backed by the U.S. Department of Veterans Affairs, designed to assist veterans, active-duty service members, and select military spouses in purchasing a primary residence. This loan option offers many benefits to our nation's heroes, such as:

No Max Loan Amount

Up to 100% Financing

Eligible on 1-4 Unit Properties

Flexible Credit Qualifications

VA Loans Aren't Only For Purchases!

VA IRRRL

A VA Interest Rate Reduction Refinance Loan (VA IRRRL) offers several benefits, including the potential for lower interest rates, reducing your monthly mortgage payments & saving you money. The application process is simplified compared to traditional refinancing, requiring less documentation, & it typically involves no out-of-pocket costs as closing expenses can be rolled into the loan. Moreover, a new home appraisal is usually not required, saving time & money in the process,

Lower Interest Rates

Simplified Application Process 

No Out-of-Pocket Costs 

No Appraisal Required 

VA Cash-Out

A VA Cash-Out Refinance Loan allows Veteran homeowners to refinance their existing mortgage, regardless of its type (VA or non-VA), and simultaneously take out a larger loan than the current balance to access the difference in cash. The cash obtained can be used for various purposes, including paying off debt, home improvements, education expenses, or any other financial need. 

Access 100% Equity

Consolidate Debt

No Private Mortgage Insurance Required

Flexible Income & Credit Requirements

Want to see just how much money you're entitled to as a Veteran? Use our simple calculator!

Frequently Asked Questions:

I can only have one VA loan, right? 

Actually, that's a common misconception. It is possible to have more than one VA loan at the same time, or to obtain another VA loan after paying off a previous one. This concept is often referred to as "second-tier entitlement" or "bonus entitlement."

Here's how it works:

It's essential to understand that while the VA guarantees a portion of the loan, it's the lender who provides the actual loan and determines the terms. So, even if you have remaining entitlement, you'll still need to qualify based on credit, income, and other lender requirements.


Do I have to have an appraisal if I'm just refinancing to lower my interest rate? 

If you're refinancing a VA loan to reduce your interest rate, you're likely considering the VA Interest Rate Reduction Refinance Loan (IRRRL), also known as the VA Streamline Refinance. The IRRRL is designed to help homeowners with an existing VA loan lower their monthly mortgage payment by refinancing to a lower interest rate.

For an IRRRL, the VA does not typically require an appraisal. That's one of the benefits of the program—it's a streamlined process with less documentation and fewer requirements than a standard refinance.

Can I have a co-borrower on my VA loan? 


Yes, you can have a co-borrower on your VA loan. However, the specifics of the situation will determine how the VA loan entitlement and guaranty are applied, and it might also influence the down payment requirements.

Here's a breakdown based on the type of co-borrower:

Lastly, individual lenders might have their own policies and requirements regarding co-borrowers. It's a good idea to discuss your specific situation with a VA loan specialist or lender to get detailed information and understand all implications.


Am I able to use my VA Loan to purchase an investment property? 

The primary purpose of the VA loan program is to help veterans and active-duty service members purchase and live in their own homes. As such, the VA loan is not designed for purchasing investment properties.

There are, however, a few things to consider:

In summary, while the VA loan is primarily for owner-occupied properties, there are scenarios where you can generate rental income or hold onto a property as an investment. If your primary goal is real estate investment, other types of financing might be more suitable. It's always a good idea to consult with a VA loan specialist or financial advisor to discuss your specific goals and circumstances.


What's the maximum loan amount for a VA loan?

The VA itself doesn't set a cap on how much an individual can borrow to finance a home. Instead, there are limits on the amount of liability the VA can assume, which usually affects the amount of money an institution will lend you without requiring a down payment.

For the most current VA loan limits in a specific county or to get details on your personal situation, it's a good idea to contact the VA directly or consult with a VA-approved lender. They will be able to provide the most up-to-date information.


What's the minimum credit score I need to have to qualify for my VA loan? 

The VA itself does not set a specific minimum credit score for VA loan eligibility. Instead, the VA requires that borrowers demonstrate a reliable and stable income and a history of responsible credit use. However, the VA does not make loans directly; it guarantees loans made by private lenders. As a result, individual lenders often set their own credit score requirements.

Here's a general breakdown:

In summary, while the VA doesn't set a strict minimum credit score, lenders do. It's always a good idea to check your credit score well in advance of home shopping, so you have a clear idea of where you stand and if you need to take steps to improve your credit.


Still have questions? Contact one of our VA Specialists today!

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*The content provided within this website is presented for informational purposes only. This is not a commitment to lend or extend credit. Information and/or dates are subject to change without notice. All loans are subject to credit approval. Other restrictions may apply.© Copyright 2024 - appli, llc - All rights reserved ®