As a thank you to our Veterans HomeWay Mortgage waives it?s lender fees on all VA loans.
An added benefit is that VA waives the VA Funding Fee for disabled Veterans (up to the discretion of the VA.)
The VA Mortgage Loan was recognized in 1944 through the GI Bill of Rights. The GI Bill was signed into law by President Franklin D. Roosevelt and gave veterans a guaranteed home with no down payment. Created to give housing and support for both veterans and their families, the dream of home ownership has become a reality for millions of veterans since the passing of this act.
Still tremendously important today, HomeWay Mortgage opens its doors to eligible veterans looking to buy a home. Eligibility for the loan is defined as ?Veterans who have served on active duty and have a discharge other than dishonorable after a minimum of 90 days of service during wartime or a minimum of 181 continuous days during peacetime.?
There is a guarantee for the lender that allows them protection against loss if you or a later owner fails to repay the loan. The guarantee replaces the protection the lender normally receives by requiring a down payment allowing you to obtain favorable financing terms. Backed by the Veterans Administration and the federal government, it is similar to FHA except that you have to be a qualified Veteran or military person. Don?t hesitate to contact HomeWay Mortgage for further information; we would love to hear from you!