VA 30-Year Fixed Mortgage

Affordable home loan options for those who have served.

Backed by the U.S. Department of Veterans Affairs, VA mortgages feature fixed interest rates, a simple approval process, favorable loan terms, and no down payment requirements. And because a portion of your loan is guaranteed, mortgage insurance is not required. Active-duty service members, veterans, and some surviving spouses may be eligible to finance 100% of the home price up to current conventional loan limits. VA home loans are available for both purchase and refinance, and our dedicated team at First Commercial Bank would be honored to help you finance the home you deserve.

FEATURES YOU'LL LOVE:

Loan amounts up to $2 million
No down payment required for veterans with full VA entitlement
No mortgage insurance requirement
Do not have to be a first-time buyer
Greater flexibility in qualification standards like lower credit scores
No prepayment penalty for paying off your mortgage early
Easy online mortgage application and approval process
No appraisal and minimal paperwork refinance option
Predictable monthly payments make budgeting easy

Applying for a 30-year fixed-rate VA loan¹ at First Commercial Bank is quick and easy, and our loan experts will be able to help you produce the perfect mortgage based on your military status.

A wave of gratitude.

VA loans were created to offset the financial challenges faced by military families and veterans, making it as easy as possible for those who have served to afford a home. First Commercial Bank’s maximum VA loan amount is $2 million. Veterans with full entitlement are not required to make a down payment; veterans with partial entitlement will often be required to make a down payment. Veterans do not have to be first-time buyers, and they can utilize this benefit more than once. If refinancing, a VA interest rate reduction refinance loan (VA IRRRL)² is an easy, streamlined process that typically does not require an appraisal or a lot of paperwork.

For more information on home loans, visit our Mortgage Information Center.

You may also be interested in:

Government Loans

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Mortgage Information Center

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FHA Fixed-Rate Mortgage

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Programs for qualified borrowers. All borrowers subject to credit approval, underwriting approval and lender terms and conditions. Programs subject to change without notice. Some restrictions may apply. Not a commitment to lend. A loan advisor will review and provide you the terms, conditions, disclosures, and additional details on the interest rates that apply to your individual situation.

¹Rate 3.207% with an APR of 3.570% as of 2/21/2020 10:09 AM EST . The APR calculation is based on a 30-year fixed-rate mortgage in the amount of $240,000 for the purchase of a single-family, primary residence with 100% loan-to-value (LTV) or 0% down payment, minimum borrower credit score of 740, and estimated points of 1% of the loan amount plus 2.15% VA funding fee with 360 monthly payments in the amount of $1,076. Payment amount does not include taxes and insurance, which means your monthly obligation will be greater. Actual payment amount will vary based upon credit history, rates in effect at the time of consummation, LTV, and other credit factors. Program terms available may vary based on the state or county in which the financed property is located. The APR is subject to change at any time prior to consummation, and individual APRs may vary for loan purchases and loan refinances due to loan programs being offered, loan volume, or other factors. For eligible veterans. All borrowers are subject to qualification, underwriting approval, and lender terms and conditions. Terms, conditions, and rates are subject to change without notice.

²Interest on the portion of your loan balance that is greater than the fair market value of the dwelling is not tax deductible for Federal income tax purposes. You should consult a tax advisor for further information regarding the deductibility of interest and charges.

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