VA Home Loans Offer More Flexibility, Favorable Rates

Category: Mortgages
Read Time: 2min
Last Updated: 6/22/2021



Wyndham Capital Mortgage is an approved lender for Department of Veterans Affairs loans and is ready to assist you with your VA loan needs. Among the advantages of having one of these loans for current and former service members are more flexible lending guidelines and a typically faster approval process.


Eligibility is Based on Type and Length of Service

The VA loan is designed specifically for people who served in our country’s military and were honorably discharged. To qualify, you typically must also meet one of these conditions:

  • You must have served 90 consecutive days of active service during wartime.
  • You must have served 181 days of active service during peacetime.
  • You must have served more than six years of service in the National Guard or Reserves.
  • The surviving spouse of an eligible service member who died in the line of duty or as a result of a service-related disability also may be eligible for a VA loan.

All recipients of a VA loan must obtain a Certificate of Eligibility that explains your VA entitlement. While you aren’t always required to reach a specific income threshold to use your home loan benefits, you are expected to have reliable income to cover monthly mortgage payments. The VA also requires you maintain a certain amount of income left over each month after all major expenses are paid.

To learn more about VA loan eligibility, please visit the U.S. Department of Veterans Affairs at


Benefits May Mean Money Savings Now and Over the Lifetime of the Loan

Here are some of the benefits of a VA loan and how it compares to a traditional mortgage:

  1. No down payment for qualified borrowers
  2. Private Mortgage Insurance is not required, but there is a VA funding fee
  3. Competitive interest rates
    1. Conventional loans are not backed by the government, which means banks take on more risk and that results in less competitive interest rates
  4. It’s typically easier to qualify
    1. Conventional loans have stricter qualification procedures.


Rates Could Be Lower

Rates for VA loans are generally lower than a conventional mortgage. Your interest rate is influenced by several factors including your credit score, debt-to-income ratio, loan duration, and current market conditions. With a VA loan it may be easier to qualify for a mortgage even if you have a low credit score.



“VA loans generally may be done with lender credits that may be larger than conventional loans. This may help cover fees and pre-paid items, which means the buyer could bring less money to closing.”

– Dennis McCoy, Senior Mortgage Consultant, NMLS #224867

Have more questions? Check out more specifics on or VA Loan Program.


*The views expressed in the content belong to the content creator. For accurate pricing and comparison of rates and terms please contact a licensed mortgage loan consultant.

Dennis graduated from California State University Long Beach in 1996 with a Bachelor’s Degree in Business Management. With over 24 years in the industry, Dennis has been both a leading mortgage professional and manager. Dennis’ unsurpassed knowledge of every aspect of the mortgage industry and his strong focus on customer service have earned him a long list of past clients, whom he still works with today for all of their mortgage needs. Dennis loves spending quality time with his beautiful family. He also enjoys surfing, boating, fishing and golf.

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