Union Bank
military family buying a house

VA (Veteran Affairs) Home Loans

Union Bank is proud to offer the VA Home Loan to our veterans buying in Vermont and New Hampshire. Helping our nation’s veterans and active-duty military members to achieve homeownership is crucial for their financial stability and well-being. By providing access to affordable home financing options, we are empowering veterans to establish roots in their communities and build a secure future for themselves and their families.

To qualify for a VA Home Loan, customers must meet specific military eligibility requirements, which include active-duty service or a history of service in the U.S. military, National Guard, or Reserves. Our dedicated mortgage lending team is committed to guiding you through the process, and helping you take advantage of the unique benefits provided by VA Home Loans.

Some unique benefits of the VA loan program include:

If you are ready to take advantage of the unique benefits offered by VA Home loans we invite you to start your VA Home Loan application online today. Our secure, user-friendly online platform streamlines the application process and allows you to easily submit your information and track the progress of your application. If you prefer a more personalized approach, we encourage you to contact our knowledgeable lending team for one-on-one guidance. Our experts are eager to help you understand your options, navigate the application process, and find the best VA Home Loan solution tailored to your needs.

Frequently Asked Questions about Veteran Affairs (VA) Home Loans

  1. What is a VA Home Loan and how does it differ from a conventional mortgage?

    A VA Home Loan is a government-backed mortgage program designed specifically for eligible veterans, active-duty military members, and their families. VA Home Loans offer several advantages compared to conventional mortgages, such as lower interest rates, no down payment requirements, no private mortgage insurance, and in some cases, more relaxed credit standards.

  2. Can I use a VA Home Loan for a second home or investment property?

    VA Home Loans are primarily intended for purchasing or refinancing a primary residence. However, in some cases, borrowers may be able to use their VA Home Loan benefits to purchase a second home if they plan to occupy it as their primary residence. Investment properties are generally not eligible for VA Home Loans.

  3. What are the eligibility requirements for a VA Home Loan?

    Eligibility for a VA Home Loan depends on factors such as your length and type of military service, your discharge status, and whether you have used your VA Home Loan benefits before. Our mortgage lending team can help you determine your eligibility and guide you through the process.

  4. Do I need a down payment for a VA Home Loan?

    One of the significant benefits of a VA Home Loan is that eligible borrowers may be able to purchase a home without a down payment. However, the VA does set limits on the amount it will guarantee, which may affect the loan amount and down payment requirements.

  5. Can I use a VA Home Loan for new construction or home renovations?

    VA Home Loan rates can change frequently. To view our most up-to-date rates, please visit our mortgage rates page.

  6. Are VA Home Loans assumable?

    Yes, VA Home Loans are assumable, which means that an eligible borrower can take over the loan from the current borrower under the existing loan terms. However, the new borrower must meet the VA’s eligibility requirements and obtain the lender’s approval.

  7. Can I refinance my existing VA Home Loan with Union Bank?

    Yes, Union Bank offers refinancing options for existing VA Home Loans. Our team can help you explore options to lower your interest rate, change the term of your loan, or consolidate other debt.

  8. What documentation will I need to provide for a VA Home Loan application?

    When applying for a VA Home Loan, you will typically need to provide documentation such as your Certificate of Eligibility (COE), proof of income (e.g., pay stubs, W-2 forms, or tax returns), bank statements, credit reports, and information about your assets and liabilities. The exact documentation required may vary depending on your specific situation. Our lending team will guide you through the application process and let you know what documentation is needed.

  9. How do VA Home Loan requirements differ between Vermont and New Hampshire?

    While the general requirements for VA Home Loans are similar in both states, there may be slight differences in state-specific regulations and property values. Our experienced lending team is well-versed in the requirements for both Vermont and New Hampshire and can guide you through the entire process.