Mortgages for veterans from a preferred government-guaranteed lender.
VA mortgages are home loans that are backed by the Department of Veterans Affairs (VA) and designed to help veterans, active-duty service members, and their families in Arkansas and the rest of the country become homeowners. These loans offer several advantages, including lower interest rates and more flexible credit requirements, making it easier for those who have served in the military to buy a home.
A primary benefit of VA mortgages is that they typically require no down payment. This means that eligible borrowers can purchase a home without having to save up a large sum of money for a down payment, which can be especially helpful for first-time homebuyers. VA loans also do not require private mortgage insurance (PMI), which can save you a significant amount of money over the life of the loan.
Another advantage of VA mortgages is that they have more flexible credit requirements than traditional mortgages. This means that veterans and active-duty service members with less-than-perfect credit may still be able to qualify for a VA loan, which can be a lifeline for those who have experienced financial hardship during or after their military service.
To qualify for a VA mortgage, borrowers must meet certain eligibility requirements, including serving a minimum period of time in the military and obtaining a Certificate of Eligibility (COE) from the VA. Borrowers can obtain a COE through their lender or by applying directly to the VA.
VA mortgages from Stone Bank Home Loans help veterans, active-duty service members, and their families become homeowners. If you’re thinking of buying a home in Little Rock, consult one of Stone Bank’s expert home loan lenders today to see if you qualify for a VA home loan and make the dream of homeownership a reality.
Borrowers with credit score of 580 or higher may qualify for 3.5% down payment. Credit score between 500 and 579 can be eligible for 10% down. The home must serve as the borrower’s primary residence. Max loan amounts available on HUD website and vary by county. Mortgage insurance premiums (MIP) apply. Available for first time home buyers. Closing costs and fees may apply. Appraisal and inspection required. This is not a commitment to lend. Credit and collateral are subject to approval. Terms and conditions are subject to change and are subject to applicants qualification.
Stone Bank is a VA approved lender; Not endorsed or sponsored by the Dept. of Veterans Affairs or any government agency. VA loans are subject to VA loan limits and eligibility requirements”. All loans are subject to credit and property approval. Rates, terms, and program guidelines are subject to change without notice. Not all consumers will qualify. The VA funding fee may apply and may be financed into the loan amount. VA loans are available for primary residences only and are not intended for investment properties. The term “VA loan” refers to the VA home loan benefit program administered by the U.S. Dept of Veterans Affairs, not a government-issued loan from the private entity. Information on this site is for educational purposes only and should not be considered legal, financial, or tax advice. Official VA resources are available at va.gov. Any questions about VA home loan eligibility, call the VA Loan Service at 877-827-3702.
Stone Bank is not acting on behalf of the USDA, HUD, or the federal government. Not endorsed by or affiliated with USDA. USDA Home loans are subject to income limitations and the property must be located in an eligible rural area. All loans are subject to credit and property approval. Programs, rates, fees, closing costs, terms, and conditions are subject to change without notice. Not all applicants will be approved. USDA Home loans are for primary residences only; investment properties or secondary homes are ineligible. Household income cannot exceed specific limits based on the area’s median income. Upfront and annual guarantee fees may apply. Questions regarding loan officer licensing may visit NMLS at nationwidelicensingsystem.org.