McLean Mortgage Corporation

You serve our country.
Let us serve you.

Serving in the military takes bravery, integrity, and resourcefulness.

Finding the right lender with those same qualities is essential when looking for a Veterans Affairs (VA) loan. As a current member or veteran of the Active Military, Reserves, or National Guard, you have earned special financing options through the Department of Veterans Affairs (VA). At McLean Mortgage Corporation, our advisors are knowledgeable about VA Loans and are ready to serve you and your family.

Program Highlights

The VA loan program allows eligible military members and veterans to get mortgage financing for as little as no money down and with no monthly mortgage insurance. Your service has earned you a few other financing perks as well. 

Features of VA Mortgages:

The required VA Funding Fee can be financed into the loan amount

Cash reserves are not required, but are a good idea and may factor into the loan approval process. If you own rental property, they are a must.

Cash reserves are not required

But, they are a good idea and may factor into the loan approval process. If you own rental property, they are a must.

With full entitlement, you can purchase with no money down

This applies to any house you are buying, provided you have paid off any previous mortgages. Your loan officer can help you understand all the details and options.

No monthly mortgage insurance is required

This can save you hundreds of dollars monthly compared to a conventional loan.

The seller or the lender can pay all closing costs

In the rare case where they can't, you can receive a monetary gift from a family member to cover all closing costs.

No VA Lending Fees with McLean Mortgage

We acknowledge your service and dedication, and as a way to give back, we don't charge lender fees for VA loans.

More key facts about VA loans

Those on VA disability typically don't pay a Funding Fee.

Maximum loan amounts are very high, especially in high-cost areas.

Use your allowances for subsistence, housing, and cost of living to help qualify.

There are some restrictions on qualified home buyers. A veteran can only purchase a house with their spouse, whose income is considered in the qualification process, or another eligible veteran. Non-owner occupant co-borrowers are not allowed.

The VA program is limited to primary residences.

Loan qualification is more lenient than on conventional loans. Your lender can help you determine your "family budget" and debt ratio to see if you qualify.

Special allowances are made for refinancing. You could qualify for 100% cash-out and rate reduction refinancing. Consult your loan officer to help you.

Have questions about the mortgage approval process? Read all about each stage of the process, as well as get valuable do’s and don’ts …

Get Started

Learn more about each stage of the mortgage process, and contact a trusted VA Mortgage Advisor today to start building equity and security.

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