Understanding VA Loans

For many active-duty service members and veterans, achieving the dream of homeownership can seem overwhelming. However, thanks to the U.S. Department of Veterans Affairs (VA) and our experienced mortgage professionals at Supreme Lending, this dream may be more accessible through VA home loans.

VA loans offer a range of benefits and advantages that often set them apart from other mortgage options. In this article, we'll discuss the key features of VA loans and highlight how they cater to the unique needs of those who have served and sacrificed for our country.

The Foundation of VA Home Loans

VA home loans are a specialized mortgage program for qualifying active-duty service members, veterans, and their surviving spouses. Unlike conventional mortgages, VA loans are guaranteed by the U.S. Department of Veterans Affairs, allowing lenders to provide favorable terms to veterans, which may include fixed or adjustable-rate loans, and flexible qualification criteria.

Down Payment

With a VA loan, eligible borrowers can purchase a home without having to save for a large down payment, potentially easing the financial burden of homeownership and making it a reality for many who might have otherwise struggled to do so.

Credit Score

Supreme Lending's VA home loans are accessible to borrowers with a minimum credit score of 580, a lower threshold compared to conventional loans, creating homeownership opportunities for veterans who may have previously faced credit challenges.

Gift Funds

Saving for a down payment can be challenging, but VA loans allow eligible borrowers to receive gift funds from acceptable sources, such as family members, to supplement their down payment. This provision provides additional flexibility and support to veterans seeking to secure a home, providing multiple avenues to fulfill their homeownership aspirations.

Property Types

VA loans are versatile and can be used to finance various property types, including single-family homes, multi-family properties (up to four units), condos, and manufactured homes. This flexibility allows veterans to choose the type of property that suits their needs and preferences.

Loan Terms

Supreme Lending offers VA home loans with a choice of 15-year or 30-year term options. This option enables borrowers to select the loan term that aligns with their financial goals and can help them manage their mortgage in a manner that suits their long-term plans.

Loan Limits

For eligible active-duty service members and veterans with full entitlement, there is no limit to the maximum loan amount for a VA loan. Supreme Lending lends up to 100% LTV up to $3,000,000 on VA loans. For borrowers who have used their entitlement on a previous home purchase and have not have the entitlement restored, due to retaining the former home or selling through an assumption, county loan limits may apply and downpayment may be required for loan amounts exceeding these limits. Speak with a Supreme Lending loan professional if you have less than full entitlement.


VA home loans are a crucial benefit for active-duty service members, veterans, and their surviving spouses. From no down payment requirement and lower credit score thresholds to flexible property types and loan terms, VA loans offer advantages that may make homeownership more accessible to the heroes who have served our country. Supreme Lending is proud to offer VA loans, serving those who have served and sacrificed so much for our nation to achieve their dreams of homeownership.

Contact us today to learn more about VA loans, and how Supreme Lending can help you achieve your homeownership goals.