VA Home Loans

The Branch Manager of our Charlotte Mortgage office is a 22 year veteran of the US Air Force and the North Carolina Air National Guard. We are proud to offer and specialize in VA home loans for Charlotte, as well as all of North and South Carolina!

VA guaranteed home mortgage loans are made by Fairway Independent Mortgage and guaranteed by the U.S. Department of Veteran Affairs (VA) to eligible veterans for the purchase or refinance of a home. The guaranty means the lender is protected against loss if the Veteran should fail to repay the loan. In most cases, no down payment is required on a VA guaranteed loan and there is no monthly mortgage insurance premiums on VA Loans.

Other benefits of a VA home mortgage loan include:

  • Fixed or ARM Interest rates set by the open market, not by the VA, keeping rates low and competitive
  • Closing costs are usually lower than other loan types.
  • There is no monthly mortgage insurance added to the loan payment – keeping payments lower.
  • The loan can be pre-paid without penalties
  • Mortgage can be taken over (or “assumed”) by the buyer when a home is sold.
  • 100% financing up to $417,000 and VA loans with no Monthly Mortgage Insurance up to $1,000,000.

Although monthly mortgage insurance is not required, the VA charges a funding fee to issue a guarantee to a lender against borrower default on a mortgage. The fee may be paid in cash by the buyer or seller, or it may be financed in the loan amount. Funding Fees vary based on down payment and are higher the second or third time a VA mortgage loan is used.

The VA home mortgage loan program has some peculiar features and benefits, so working with someone who understands the program and special options for veterans and active duty military members is really important. Our military and VA loan experience can help you determine if this is the best loan for you. We know how to navigate the red tape that exists with all government programs to make getting a VA loan a hassle free process for you.

While we are well known for our Charlotte VA home mortgage loan programs, we offer VA home mortgage loans throughout North and South Carolina.

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