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VA Loan

NASB is VA-approved home loan lender and is proud to serve those who serve this country. We make applying for a VA home loan simple with a great VA loan interest rate.

Call us 855-465-0753 

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Key Features

NASB does not charge an origination or application fee for VA loans in closing costs1

Typically no down payment2

No private mortgage insurance needed


NASB wins three NerdWallet 2021 Best-of Awards

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Proud to be a Top VA Home Loan Lender

Since 2010, NASB has helped more than 26,000 veterans and military service member families close more than $8.2 billion through our VA home loan programs. Our dedicated loan consultants are VA home loan specialists with a deep understanding of the Department of Veteran Affairs loan eligibility requirements, loan process, and customer needs. Whether it’s a purchase loan, refinance, or jumbo VA loan, NASB has your solution. Even if you are a veteran with a bad credit history, we can help you get a home loan. Here’s why you should choose NASB:

  • More than 15% of NASB’s loan officers are veterans themselves, so they understand your situation.
  • NASB does not charge an origination or application fee for VA loans.1
  • NASB has in-house processing and underwriting on virtually every loan to take you from application to closing faster.
  • Our interest rates are competitive with all national lenders.
Your home loan journey starts here!

Answer a few simple questions to get personalized recommendations — just for you, right from our experts.

What type of loan are you looking for?
Step 1

By clicking the Submit button you agree that you are providing an electronic signature expressly authorizing NASB to contact you by telephone at any of the telephone number(s) provided above using an automatic telephone dialing system or an artificial or prerecorded voice or via text/SMS message, even if the telephone number is assigned to a cellular telephone service or other service for which the called party is charged. NASB may also contact you via email using any email address you provided. This authorization overrides any previous registration on a federal, state or corporate Do Not Call Registry or any internal NASB privacy or solicitation preference you have previously expressed. You are not required to provide this authorization as a condition of purchasing any property, goods or services from NASB. As an alternative, you may call us directly at 866-627-7119 and we will process your request over the phone.




VA Home Loan Requirements

Even though you may be eligible for a VA loan based on your service and certificate of eligibility, there are also certain VA Lender qualifications that must be met in order to be approved:

  1. Two years of steady employment.
  2. The last two years of income should be either at the same level or higher.
  3. Your credit score should have less than two 30-day late payments in the last two years and show a minimum credit score of 640.
  4. You must be at least two years past a Chapter 7 bankruptcy discharge date and have a qualifying credit score since the discharge.
  5. If you are in a Chapter 13 bankruptcy, you must have satisfactorily made at least 12 months of payments and the trustee or bankruptcy judge approved the new credit.
  6. Any foreclosure must be at least two years old, and you must have perfect credit following the foreclosure date.
  7. Purchasing or refinancing is subject to inspection to determine the marketability and verify the current market value.

Other conditions for your home mortgage may apply; all loan applications are subject to underwriting approval.




VA Loan FAQs

There is no limit to the number of times a borrow can take advantage of VA loans as long as they still have money available in their entitlement or have paid off any previous VA loans and have restored their entitlement. Another scenario is your VA loan has been assumed by another veteran, which will restore your entitlement.

VA loans take no longer to close than a conventional loan. In most cases, you can close within 45 days. An Interest Rate Reduction Refinancing Loan (IRRRL) can be closed in as little as 30 days.

With your VA home loan, you may purchase a home with no money down with a purchase price up to your specific county limit. You can find more information on specific VA loan county limits at www.va.gov or by contacting a NASB VA loan officer. 

There is no VA loan limit. However, depending on the purchase price or balance of the loan you wish to refinance, you may be required to make a down payment or in the case of a refinance, you may be required to have additional equity. Contact a NASB VA loan officer for further details.

In many cases, eligible borrowers will qualify for a VA refinance with little or no equity in their home. If you have an existing VA home loan, then it’s possible to qualify for an Interest Rate Reduction Refinance Loan (IRRRL) that requires no appraisal. So if you’re upside down on the home or have little equity, you may still be able to refinance. In some cases, if you have an FHA or conventional loan, the VA will allow 100% loan-to-value (LTV), so the home will need to appraise for what you owe on it. If the home appraises for less than you owe, then you may need to bring cash to closing to cover the difference. Contact NASB lender for further details.

No, a VA loan is guaranteed by the U.S. government. You can purchase a home with no equity and pay no monthly mortgage insurance premiums.

You may either finance the cost of the refinance into your loan amount, or the lender may pay your closing costs. You are not required to have cash in the transaction to qualify for an Interest Rate Reduction Refinancing Loan.

A VA Interest Rate Reduction Loan, or IRRRL for short, is a simplified way for veterans to get their VA refinance loan approved. Also called a VA streamline refinance, an IRRRL doesn't require an appraisal or go through the typical VA underwriting process, because the lender uses the information from the original VA mortgage loan. Here's more information.

Yes, it is possible to get an Interest Rate Reduction Refinancing Loan (IRRRL) on a non-owner occupied home.

Members of the military, whether on active duty, veterans, or otherwise eligible, have access to VA loans, which offer several benefits to borrowers. There is often no down payment, no private mortgage insurance is required, it may be  is easier to qualify, the interest rates are competitive and closing costs can be lower. Here's a blog that can tell you more.
Every active duty member is issued a DD Form 214 when they are separated from the military, and most reservists are issued a DD Form 256. You can also get a military records request from the National Archives that maintains most records.
There is no VA loan limit. However, depending on the purchase price or balance of the loan you wish to refinance, you may be required to make a down payment or in the case of a refinance, you may be required to have additional equity. Contact a NASB VA loan officer for further details.
There’s no minimum income requirement for a VA loan. However, you do need to have an acceptable debt-to-income ratio (“DTI”). This DTI takes your monthly debts and divides it by your gross monthly income.
Another income-related requirement relates to residual income. This is the amount of income that’s left each month after all other expenses have been paid. This remaining amount should cover food, transportation, and other basic living costs. The amount of residual income that the VA requires to qualify for their program will vary by location and family size.
Keep in mind that although the VA doesn’t set credit score minimums, lenders may have specific credit score requirements. Here's a blog that tell more.

Documentation you may need for a VA loan includes but is not limited to the following:

  • Copy of driver’s license
  • Two years full tax returns - all pages and all schedules
  • Two most recent pay stubs with year-to-date pay
  • Two most recent asset statements - all pages with full transaction history
  • Copy of your mortgage statement if you currently own
  • Bankruptcy and discharge papers (if applicable)
  • Certificate of Eligibility (COE).
  • Form 28-1880 (Request for COE)
  • Form DD-214
Yes, you can, although conventional loans typically have high interest rates and can charge monthly private mortgage insurance premiums. One reason to refinance a VA loan to a conventional loan is so that the borrower can use their VA credit to buy a rental home for extra income. Veterans only get one credit to purchase a home and this frees up their VA Entitlement so that they can purchase a second one. Here's a blog that tells more about how to refinance a VA loan to a conforming loan
A Certificate of Eligibility is used to prove to the lender that the buyer has met the VA's service requirement. There are three ways to get one:

1. Ask the lender - they can tap into a database and obtain it relatively quickly
2. Apply online - Go to the eBenefits portal 
3. Apply through mail - Print this form (link to pdf) and return to the address on the form
Yes. Eligibility for a VA loan can begin two years after a Chapter 7 bankruptcy discharge, 12 satisfactory loan payments into an active Chapter 13 bankruptcy with certain restrictions, and only two years after a foreclosure discharge or dismissal.
Instead of requiring mortgage insurance, VA loans have what is called a VA Funding Fee. The amount of the funding fee is based on type of Veteran (regular military or Reserves / National Guard), percent of down payment, and if the borrower ever had a VA-backed loan before. Here's a funding fee chart to help determine what the cost will be.
Yes! You can roll the funding fee into your total loan amount.
This is an assessment of the property's value and condition done by a independent VA appraisal professional. This is not the same as an inspection; the appraisal is done to make sure the home is worth the value you've offered to pay for it, and to make sure it meets both the VA and lender guidelines.
The VA doesn't require a minimum credit score. However, the lender will usually have credit requirements that the home buyer must meet. Most VA-approved lenders require a credit score of at least 640.
For VA loans, typically no down payment is required.  However, a down payment may be required if the borrower does not have sufficient entitlement, for Graduated Loan Payment loans or one where the loan amount exceeds the property value.  Typically Lenders, however, will also require a down payment of 25% (or more) for the amount in which the loan exceeds the conforming loan limit (‘Jumbo loans’).
Yes - Unless a Power of Attorney ('POA') is approved .
Yes - You can use this website (https://vip.vba.va.gov/portal/VBAH/VBAHome/condopudsearch) to determine the eligibility of a condo. 
Yes, it is possible to get an Interest Rate Reduction Refinancing Loan (IRRRL) on a home currently used as an investment property based on prior occupancy status.


  • Get the most up-to-date rates available
  • For purchase or refinance, all loan types
  • 15-year and 30-year term options
  • A variety of mortgage payment calculations
  • Learn which loan is better for you
  • Help to make term and loan type decisions
  • VA-approved lender.
  • No NASB lender fees2.
  • Can choose IRRRL with no appraisal or credit underwriting package required.

Schedule an appointment

Jun 24, 2019, 11:03 AM
Icon:
fa-calendar-alt
Link:
/about/nasb/contact-us/schedule-an-appointment

Leave a comment

Cindy L.
My experience with NASB was exceptional. Everyone went above and beyond. They made the transition from applying for a loan to finalizing very easy and stress free.

Local banking. National lending.

More than 15% of NASB’s loan officers are veterans

Representing all branches of the military

Top 30 VA Lender for 2020

Based on total loan amount

Since 2010, NASB has helped over 36,000 veterans get loans

Based on lender data

Nationally competitive products. Individualized service.

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1NASB does not charge lender fees on VA loans; however, fees payable to third party service providers are still required.

2VA loans require a down payment if the borrower does not have sufficient entitlement, for Graduated Loan Payment loans or one where the loan amount exceeds the property value. Typically Lenders, however, will also require a down payment of 25% (or more) for the amount in which the loan amount exceeds the conforming loan limit (‘Jumbo loans’).