ARE YOU A VETERAN, VA LOANS MAY BE FOR YOU

• No downpayment
• Ability to finance the VA funding fee (unless exempt for veterans receiving VA compensation).
• Lower closing costs
• No mortgage insurance premiums.
• An assumable mortgage.
• No prepayment penalty
• VA assistance to veteran borrowers in default due to temporary financial difficulty

Bankruptcy does not in itself disqualify you for a VA home loan. The following rules apply:

• If the bankruptcy was discharged more than 2 years ago, it may be disregarded
• If the bankruptcy was discharged within the last 1 to 2 years, it is probably not possible to determine that you and/or your spouse are a satisfactory credit risk unless both of the following requirements are met:
• you and/or your spouse have reestablished satisfactory credit, and
• the bankruptcy was caused by circumstances beyond your and/or your spouses control (such as unemployment, medical bills, etc.)