VA Loans – Home Financing for Veterans, Active-Duty Military & Eligible Spouses

At Crestico, we’re proud to support our nation’s heroes by offering VA home loan programs backed by the U.S. Department of Veterans Affairs.

Get a Free Consultation
Step 1

Check Eligibility

Step 2

Payment Option

Step 3

Get Approved

Step 4

Close the Loan

Step 5

Repayment & Loan Terms

Overview of the VA Loan Program

The more you know about our home loan program, the more you will realize how little “red tape” there really is in getting a VA loan. These loans are often made without any downpayment at all, and frequently offer lower interest rates than ordinarily available with other kinds of loans. Aside from the veteran’s certificate of eligibility and the VA-assigned appraisal, the application process is not much different than any other type of mortgage loan. And if the lender is approved for automatic processing, as more and more lenders are now, a buyer’s loan can be processed and closed by the lender without waiting for VA’s approval of the credit application.

Additionally, if the lender is approved under VA’s Lender Appraisal Processing Program (LAPP), the lender may review the appraisal completed by a VA-assigned appraiser and close the loan on the basis of that review. The LAPP process can further speed the time to loan closing.

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Thinking about Purchasing a Property?
When you want to purchase a new home, a “First Mortgage” is created. This mortgage can cover up to the full price of the home, sometimes more for Homepath renovation loan. However typically you will have to have money to put down. Some buyers can purchase a new home with low down payments on FHA and VA loans.
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Want to Refinance?
People usually Refinance their current mortgage(s) to get a lower interest rate or borrow more money. You can refinance the existing loan amount in most cases, or take cash out up to 85% of your homes value.
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Home Improvement Loans
Any of the above three types of loans could be used here, but you are simply stating that you will be using the funds to improve the home.
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Debt Consolidation to Lower Monthly Payment
Because Mortgage Rates are usually 2 to 3 times lower than Interest Rates of Small Bank Loans, Credit Cards, etc., many people choose to pay off all their bills with funds from a mortgage. This can be a very wise move as it not only relieve you of the multitude of monthly bills, but the accruing high interest rates on many small loans is very expensive in the long run.
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Home Equity Line of Credit "HELOC" or Second Mortgages
A “Second Mortgage” can be taken out on your existing home against the “equity” you currently have. Some lenders will allow you to use 100% of your homes current value to determine equity, but 90% is common, and 80% is required for the best rates (closest to first mortgage rates). Thus, on a 200,000 home, if you owe 100,000 on your First Mortgage, you could borrow up to $100,000. Rates are usually a bit higher than first mortgages. Since this is a second mortgage, it is a bit more risky than a first mortgage for the lender, thus the interest rate is higher. If something were to happen, the first mortgage lender would be paid first.
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Down Payment Assistant and or Grants

Loans and gifts from family, friends, and other organizations can help you put together a down payment sufficient for your homeloan needs. The percentage of the loan or gift that is available for use as a down payment can vary depending on the type of homeloan you qualify for. It is important to discuss any loans or gifts you plan to use as a down payment with your mortgage lender. Many companies also offer programs to their employees to make thehome buying experience easier. 401K plans are often used for this purpose and employees are permitted to withdraw from their 401K plans without penalty to provide a down payment on a home loan. Making use of your 401K program can be useful and beneficial but there can be drawbacks that must be examined.

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Housing Authorities
There are national non-profit organizations dedicated to assisting home-buyers with their down payment and closing costs. Housing authorities are agencies in cities and states around the nation that handle housing issues in their designated areas. Many housing authorities strive to provide stable and affordable housing for low and moderate income persons and create living environments that help residents learn to live independently. Your mortgage broker is educated about current housing authority issues and can serve as a liaison between you, the borrower, and your Housing Authority.

One size loan does not fit all. Good credit or not-so-good credit, we can find you a loan. Whether it’s a purchase, re-finance, or construction loan, we have the most comprehensive loan products on the market for you to choose from that fit your individual needs.

We’ve highlighted the programs more commonly offered today. Characteristics of each loan program are unique, so consult us for more information and to become familiar with the details of the programs available to you.

To help determine the best loan program for you, consider the following:

  • How important is payment certainty?
    If knowing that your payment will be the same every month is important, consider a fixed-rate mortgage.
  • How important is rapid equity buildup?
    If rapid equity buildup is a factor, consider a shorter amortization period, such as a 15-year, fixed-rate mortgage.
  • Do you anticipate increasing or stable income?
    If income growth is anticipated, you could take advantage of a lower start rate on an ARM or a temporary buydown.
  • Other factors to consider include:
    • ability to qualify at market rates for loan amount selected
    • anticipated term of occupancy
    • possibility of significant rate changes
    • existence of up-front costs

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At Crestico, our loan programs are designed to meet a wide range of financial needs—whether you're buying your first home, refinancing, investing in property, or looking for flexible financing options. From conventional and government-backed loans to non-traditional and specialty programs, we offer solutions that align with your goals. Our experts help match you with the right loan, offering competitive rates, personalized terms, and a smooth approval process.