Since VA loans are partially backed by the federal government, this enables Caliber Home Loans to offer these loans to qualified military borrowers with little or no down payment. Other major benefits include:
A selection of loan types: Caliber's array of VA mortgages includes fixed-rate loans and adjustable-rate mortgages (ARMs). Temporary buydowns can make your first couple of years in your new home more affordable.
High balance loans: If you're buying a home in a high-cost area, you may qualify for up to $1.5 million in loan funds.
Flexible credit qualifying: FICO scores from 580 may qualify for VA financing. Some restrictions may apply – ask your Loan Consultant for details.
A variety of eligible property types: In addition to single-family properties, you may buy a VA-approved condominium, modular home or a home in a Planned Urban Development (PUD).
Lasting entitlement: If you pay off or sell a home purchased with VA financing, you may qualify to "re-use" this benefit and purchase your next home with a VA loan.