VA Loans

What you need to qualify for VA loans

In order to qualify for Veteran’s Administration Loans (VA loans), you must be a qualifying veteran and have a certificate of eligibility.   If you’re not sure if you’re eligible or if you need a certificate of eligibility, we have the authority to go online to the VA website and retrieve this for you, simply contact us to see how we can help.

Below is a list of factors when considering VA mortgage loans:

VA loans

  • A veteran’s spouse may be a co-applicant on a VA loan if the Veteran is also on the loan
  • A  veteran cannot have a non-veteran as a co-applicant unless the co-applicant is the Veteran’s spouse
  • Not limited to first time home buyers
  • No income limits apply
  • Max loan is $417,000 for purchases and VA to VA refinances
  • Max loan is $144,000 for VA cash-out refinances and other loan types refinancing into a VA loan
  • No down payment is required
  • The seller can pay all closing costs and prepaid expenses associated with a purchase but this needs to be negotiated into the contract and is limited to the lesser of actual expenses or 6% (whichever is less).
  • Minimum of 640 credit score required by Merrimack Mortgage Company
  • Minimum of 620 credit score if VA loan is combined with NH Housing
  • Available for 1- 4 unit  properties and VA approved condos
  • can be combined with NH Housing grants
  • No rehab funds are available through VA

Obtaining VA loans doesn’t need to be complicated.  We work with our clients to ensure your mortgage is the right fit for you and your family.  When it comes to VA loans we have the expertise, knowledge, and professionalism needed to help you achieve your American dreams.


Contact us today to help with your VA home mortgage

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