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The Veterans Administration (VA) helps Servicemembers, Veterans, and eligible surviving spouses become homeowners. The VA provides a home loan guaranty benefit to help assist you in purchasing a home to occupy. The VA also insures a portion of this loan.
Purchase Loans and Cash-Out Refinance
- VA-guaranteed loans are available for homes for your own personal occupancy. To be eligible, you must have a good credit score, sufficient income, a valid Certificate of Eligibility (COE) with sufficient available remaining eligibility, and meet certain service requirements.
- The length of your military service or military service commitment and/or duty status may determine your eligibility for specific home loan benefits.
- 100% financing for eligible veterans with full entitlement is available for loans up to $417,000. Loans over $417,000 may require additional down payment.
- 90% loan to value for Cash-Out Refinances with full entitlement available up to $417,000.
VA Interest Rate Reduction Refinance Loan (IRRRL)
- The IRRRL is a "VA to VA" loan, meaning it can only be applied to refinance an existing VA loan. An IRRRL can be done only if you have already used your eligibility for a VA loan on the property you intend to refinance. We may require a current appraisal with sufficient equity to support the new loan amount.
Important Notice: Interest Rates and Maximum Loan-to-Value may be based on Credit Score, Property Type, Occupancy, Purpose, Investor, Insurer, Loan to Value and other factors. Additional investor, insurer and Orrstown Bank criteria/conditions apply to all products. Information provided is for illustrative general use only and does not contain all qualification and automated underwriting approval requirements. Orrstown Bank reserves the right to change this information at any time. Meeting any of the criteria does not constitute a commitment to lend.