Home Loans for Veterans

Guaranteed Home Mortgage Loans

We are proud to offer and specialize in VA home loans for Charlotte, as well as all of North and South Carolina! VA guaranteed home mortgage loans are made by Fairway Independent Mortgage of the Carolinas and guaranteed by the U.S. Department of Veteran Affairs (VA) to eligible veterans for the purchase or refinance of a home. The guaranty means the lender is protected against loss if the Veteran should fail to repay the loan. In most cases, no down payment is required on a VA guaranteed loan and there are no monthly mortgage insurance premiums on VA loans.

If you are active duty military and you have PCS (Permanent Change of station) orders to Fort Bragg or Pope Air Force Base in Fayetteville, North Carolina; Seymour Johnson in Goldsboro, North Carolina; or in South Carolina at Shaw Air Force Base in Sumter, or Fort Jackson in Columbia, here are five reasons to consider using your VA Home Loan Benefits to purchase a home in your area:

1. Competitive Interest Rates
Even with less-than-perfect credit!
2. 100% Financing
3. Flexible Credit Requirements
We’ll work with your credit and give you
plenty of options along the way.
4. No Monthly Mortgage Insurance
Unlike conventional and FHA loan products, with
monthly mortgage insurance premiums that could
add to your monthly payment, there is NO monthly
mortgage insurance with the VA loan.
5. VA Funding Fee Financing
The VA funding fee can be financed into the loan.

VA Loan Specialists

VA Home Loans are the natural choice for active duty military or veterans and we are VA loan specialists. Our team loves working with the military. We not only have the opportunity to help real heroes realize their dreams of home ownership, but our branch manager, Tom Tousignant, retired from the Air Force as a Lieutenant Colonel after 22 years of service.

We value our role in serving our men and women of the United States Military and helping veterans understand the benefits of the VA Home Loan program.

Other Benefits of a VA Home Mortgage Loan

  • Fixed or ARM interest rates set by the open market, not by the VA, keeping rates low and competitive
  • Closing costs are usually lower than other loan types
  • There is no monthly mortgage insurance added to the loan payment – keeping payments lower
  • The loan can be pre-paid without penalties
  • Mortgage can be taken over (or “assumed”) by the buyer when a home is sold
  • 100% financing up to $417,000 and VA loans with no Monthly Mortgage Insurance up to $1,000,000

Although monthly mortgage insurance is not required, the VA charges a funding fee to issue a guarantee to a lender against borrower default on a mortgage. The fee may be paid (in cash) by the buyer or seller, or it may be financed in the loan amount. Funding fees vary based on down payment and are higher the second or third time a VA mortgage loan is used.

The VA home mortgage loan program has some peculiar features and benefits, so working with someone who understands the program and special options for veterans and active duty military members is really important. Our military and VA loan experience can help you determine if this is the best loan for you. We know how to navigate the red tape that exists with all government programs to make getting a VA loan a hassle-free process for you. While we are well known for our Charlotte VA home mortgage loan programs, we offer VA home mortgage loans throughout North and South Carolina.