The Department of Veteran Affairs (VA) guarantees loans for veterans and active military service members in Iowa. With these loans, veterans can save up substantial property costs. The benefits of this program include complete financing in property purchases, no private mortgage insurance, and limited percentage of VA mortgage closing costs.

e-Finance Mortgage LLC is proud to serve the veterans of Iowa by providing VA loans. We also cater to active members of the military. Our services encompass a number of benefits:

  • 100% finance for (appraised value not exceeding sale price)
  • Elimination of Private Mortgage Insurance (PMI) in Iowa
  • Up to 3.3% of funding fees for financing loans
  • Penalty-less pre-payment
  • Limited closing costs in Iowa (as per the state’s VA regulation)
  • Up to $424,100 of loan amount (varies according to counties)

Veterans in Iowa meeting minimum service requirements can apply for the Iowa VA loan. Active-duty members of the military serving for 181 days in peacetime also qualify for the VA loan. National Guard and reserve members may qualify once they have served for 6 years.

A complete Certificate of Eligibility (COE) is a primary step in applying for the Iowa VA loan, regardless of the service status. e-Finance Mortgage LLC can streamline the process of obtaining a COE along with the application process, if you do not own one.

Though lenders in Iowa require the borrowers to have a minimum credit score of 620, we provide flexible options in VA loan in certain cases.

Apart from COE and credit score, there are few other requirements for the Iowa VA loan – including checking and savings account information, recent pay statements, proof of income, W-2 statements, and proper documentation accounting your ability to repay the requested amount of loan.

We also offer refinancing programs for Iowa veterans and service members with existing VA loans. The cash-out refinance VA loan can provide monetary relief for individuals who need additional cash for expenses such as property maintenance.

Applicants can also opt for the streamline refinance loan, also called the Interest Rate Reduction Refinance Loan (IRRL), also known as streamline refinance loan. You can opt for this loan to minimize the monthly payments by taking advantage of lower market rates.

We aim to help veterans with VA loan needs throughout Iowa. Our loan specialists are available to guide you through the application process. We look forward to working with you.

If you want to learn more about VA loan options in Iowa, or have any specific queries, do not hesitate to get in touch with the experts at e-Finance Mortgage LLC. Contact us today to apply for the VA loan.