we offer VA loans
"We enjoyed buying our home with PMG and how closely they worked with us and our out-of-town Realtor."
Are you a veteran or servicemember? PMG can help you get a VA loan!
PMG offers home loans that are specially designed to meet the needs of military servicemembers and veterans looking to buy or refinance a home. VA loans are guaranteed by the Department of Veterans Affairs, which means that as a servicemember, you can qualify for lower interest rates and better loan terms than you might otherwise.
VA loans are not one size fits all. PMG Home Loans offers a wide array of VA loans, including fixed-rate and adjustable-rate mortgages, as well as interest rate reduction refinance loans.
Benefits of VA Loans
Lower interest rates
No down payment option
No prepayment penalties
Low closing costs
Relaxed credit score requirements
Higher maximum loan amounts
No mortgage insurance required
VA funding fee can be rolled into the loan
PMG will work with you to balance your homebuying or refinancing goals...
…and identify the VA loan or other mortgage loan option that best meets your needs.
We have worked with countless military families over the past 20+ years, and we would love to have the opportunity to help you navigate the process of getting a VA loan. It can be frustrating to deal with the requirements imposed by the Department of Veterans Affairs, but that's what we're here for!
Let PMG handle the hard work of getting a VA loan, so you can focus on realizing your dream of owning your own home.
lower interest rates
While there isn’t much flexibility in interest rates these days, because these loans are guaranteed by the VA, you'll almost certainly get a lower interest rate than you would with a conventional loan.
easier to qualify
Again, these loans exist because the government wants to have your back when it comes to buying a home by covering some of the risk of giving you a loan. That means that VA loans are usually easier to qualify for than conventional loans. While the average person who is successful in getting a home loan has a credit score of around 750, for VA loans, qualifying credit scores can be 620, or even lower in some cases.
less (or no) money down
For a typical loan, down payments of up to 20% are pretty standard. But VA loans are one of the last types of loans around where it’s possible to put no money down.
no PMI required
Normal loans usually require that you pay for private mortgage insurance (PMI). But because VA loans are guaranteed by the government, you don’t have to buy insurance.
How to qualify for a VA loan from PMG.
To be eligible for a VA-backed loan, you must meet the VA’s standards for credit and monthly income. In addition, you must be using your loan to either buy a single-family home, buy and improve a home, refinance an existing loan, or another approved purpose.
Requirements vary depending on when you served, but typically, you likely qualify for a VA loan if you fulfill one of the requirements listed here.
Requirements For Having Served
At least 24 months of continuous active duty without being discharged dishonorably
At least 181 days or the full term ordered for active duty, without being discharged dishonorably
At least 181 days active duty, and discharged for hardship, reduction in force, convenience of the government, early out, condition interfered with duty, or compensable service-connected disability
Less than 181 days active duty, if discharged for a service-connected disability
During wartime, in the National Guard, or as Selected Reserve, and meet alternative requirements.