The VA Loan provides veterans with a federally guaranteed home loan which requires no down payment. This program was designed to provide housing and assistance for veterans and their families.
The Veterans Administration provides insurance to lenders in the case that you default on a loan. Because the mortgage is guaranteed, lenders will offer a lower interest rate and terms than a conventional home loan. VA home loans are available in all 50 states. First Portland Mortgage can assist you with your VA Home Loan in Maine. A VA loan may also have reduced closing costs and has no prepayment penalties.
VA home loans are available to military personal that have either served 181 days during peacetime, 90 days during war, or a spouse of serviceman either killed or missing in action. Some program highlights are:
Contact us today or click here to start a secure on-line application to see if you qualify for VA home financing.