Can You Pay off Your VA Loan Early?

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Today, we answer the question of whether it's possible to pay off a VA loan early. Let's jump right in...

VA loans do not have any kind of prepayment policies. This means that borrowers can pay off their home loans early, without penalty. This is a significant advantage to homeowners who want to cut down on interest costs over time.

Paying an additional $50 or $100 toward your premium could shave off years and tens of thousands of dollars of your 30-year fixed-rate mortgage! 


As always, if you have any questions about VA loans, or if you need lending assistance of any kind, give us a call or shoot us a quick email. We would love to help! 

Can Someone Co-Sign on a VA Loan?

Are you looking to apply for a mortgage? Get an application here 

Can someone else sign on a VA loan with you? This is another great question, and one we'll answer here today.

Veterans and active-duty service members can have someone sign on the home loan with them, but there are some restrictions. The co-borrower must be a spouse or an eligible veteran. Parents, friends and significant others who do not fall under one of those two headings cannot be a co-borrower on a VA loan. Married veterans can obtain a VA loan on their own, but if they live in a community property state, their spouse's active debt and and income will be factored into the loan application.  

If you have any questions about this topic, or if you need lending help of any kind, give us a call to speak with a mortgage specialist. We would truly love to give you a hand! 

How Many Times Can You Use a VA Loan?

Are you looking to apply for a mortgage? Get an application here 

Today, we answer the question of whether you can have more than one VA loan at a time! 

Your VA entitlement isn't a one-time benefit! Borrowers who qualify can utilize their VA home loan benefits over and over. Most veterans will have only one VA-backed mortgage at a time, but there are situations where veterans can have more than one VA loan at a time. Most of those circumstances are related to relocation needs, including deployments and new jobs.

VA loans are for primary residences only. You can't use your VA loans to purchase investment properties or businesses!

If you have any questions, give us a call to speak with a VA loan specialist! We would love to hear from you!