VA Loans Huntsville, AL
We are a leading provider of VA home loan solutions. I am a local Army Veteran located in Huntsville, AL and Fayetteville, TN and can originate VA Loans in all 50 states. I am dedicated to providing you with the best possible service and I look forward to working with you. I service Alabama and Tennessee and all 50 states for VA loans. We support our Veterans by not charging any origination on our VA loans.
A VA loan is a mortgage loan guaranteed by the Department of Veterans Affairs (VA). It provides eligible veterans, active-duty service members, and surviving spouses with special benefits when purchasing, building, or improving a home. These benefits include no down payment, no monthly mortgage insurance, and competitive interest rates
Huntsville-Specific Information:
As of January 1, 2025, the VA loan limit for all counties in Alabama, including Madison County (Huntsville), is $806,500. Being an Army Veteran, I specialize in VA loans.
VA Home Loan Benefits
Those who qualify for a VA loan may be able to significantly reduce the total amount they will be required to pay over the life of their mortgage. Eligible service members and veterans can take advantage of some of the many VA Home Loan benefits, such as:
No down payment on home purchase loans
Lower closing cost limits
Lower interest rates
Relaxed credit requirements
Less strict debt-to-income (DTI) requirements
No monthly mortgage insurance premiums help keep your monthly payments low
VA Loan Types
VA Loan to Purchase a Primary Residence
If you are a qualifying Veteran, you can take full advantage of 100% financing for the purchase of your primary home!
VA Cash-Out Refinance
If you need extra money, then you can pull cash out of the equity in your home. Paying off high interest credit cards is a great way to lower your monthly expenses and with a VA Cash-out loan, the interest on the loan is tax deductible unlike the credit card interest.
VA Interest Rate Reduction Loan (IRRL)
Already have a VA Loan? Consider lowering your monthly payment with a VA IRRL. These loans are quick and easy and require very little documentation from you. No appraisal required, no income information required. It is quick and easy.
We Support Our Veterans.
We do not charge any origination for our VA Home Loans in Huntsville, AL. Most mortgage lenders charge a percentage of the loan amount as well as a flat fee for processing or underwriting, we do not charge anything from you. There are standard closing costs, like title insurance, attorney fees, state taxes, credit report fee, flood fee and appraisal fees. But we do not charge any origination.
Who is eligible for a VA Loan?
As a rule of thumb, almost all active duty or honorably discharged service members are eligible for a VA loan. I can help you secure your VA Eligibility.
You may be eligible for a VA loan if any one of these statements describes you:
I served 181 days during peacetime. (Active Duty)
I served 90 days during wartime. (Active Duty)
I served 6 years in the Reserves or National Guard.
I am the spouse of service member who was killed in the line of duty.
I currently receive disability payments from the VA.
What is the VA Funding Fee and is it required?
Yes, it is required. It is a fee paid directly to the Department of Veteran's Affairs so that they can guarantee your loan and provide you with the opportunity to receive a loan with little to no money out of pocket.
How much is the VA Funding Fee?
It depends on several factors including: Whether you are Active Duty, Retired, Guard or Reserve and whether you this is a first-time use, subsequent use, or a cash-out refinance as well as how much of a down payment you are putting down. The fee can range from as little as 1.25% up to 3.3% of the loan. Generally, the more money you put down the lower the VA funding fee. Please contact us and we will help you to determine what the exact cost of the VA Funding Fee would be for your situation.
Do I have to pay the VA Funding Fee out of pocket?
No, you can include the VA Funding Fee in your loan and pay the funding fee over the course of your loan.
Do I still have to pay other normal closing costs like Appraisal, Title and Escrows?
Yes, however, with a VA loan if you are purchasing a new home the seller can pay for all or part of your closing costs.
Can I have more than one VA Mortgage?
Yes, there is bonus entitlement that is available to all Veterans. To find out how much you can qualify for, you will need to speak to a lender.
What is a VA Streamline Refinance?
A VA Streamline Refinance is a refinance option that is available if you already have a VA mortgage, and you want to lower your interest rate with little or no out-of-pocket closing costs. You don't have to provide bank statements, W2s, job verification or paychecks.
How to Get Started:
To begin the process, contact Tim Byrne, a VA-approved lender in Huntsville. I can assist you in obtaining your COE. Getting pre-approved will help you determine your borrowing capacity. It is also beneficial to work with a real estate agent experienced with VA loan.
See what other Veterans have to say about their experience by checking out my google reviews. If you are looking for a VA loans Huntsville, AL Contact me if you have questions.
Even though I am in Huntsville, AL, service Alabama, Tennessee, Florida, Georgia, South Carolina, North Carolina, Virginia, Colorado and Texas.
**South State Bank is not affiliated with or acting on behalf of or at the direction of FHA, VA, USDA or the Federal Government.