Skip the down payment with a VA home loan

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Learn about eligibility, benefits and how to get started

Team Petros appreciates the sacrifices our military families make in serving our country and are pleased to offer you Veterans Affairs (VA) home loans. If you are a service member, veteran or eligible surviving spouse, you may qualify for special savings and benefits through a VA home loan. We offer 15 years of experience in successfully funding homes for active duty personnel and veterans. Our team is committed to helping you find the most suitable VA loan option and guiding you through every step of the process.

To find out whether you qualify, take a look at the following list of criteria. If one or more applies, you are likely eligible for a VA loan.

- Served 90 consecutive days during wartime

- Served 181 days of active service during peacetime

- Served more than 6 years in the National Guard or Reserves

- Married to a service member that died in the line of duty or as a result of a service-related disability

If you do qualify, you’re probably wondering why you should choose a VA loan over another type of loan. VA loans offer borrowers several compelling advantages. Here’s a list of the top benefits:

US DEPARTMENT of Veterans affairs GUARANTEES a portion of VA Loan, allowing private lenders to EXTEND savings to you as a homebuyer.

US DEPARTMENT of Veterans affairs GUARANTEES a portion of VA Loan, allowing private lenders to EXTEND savings to you as a homebuyer.

No money down

This is one of the biggest advantages. Most other loans require a down payment of at least 3%, but most VA loans don’t require a down payment at all.

No private mortgage insurance (PMI) fees

Most lenders charge a fee for mortgage insurance unless you make a 20% down payment. There is usually both an up-front fee and an annual charge. With VA loans, there are no mortgage-insurance fees because the government backs the loans and assumes the risk.

Competitive interest rates

Save money long-term by paying less interest than you would with most conventional loans.

Limitation on buyer’s closing costs

The VA limits the amount buyers can be charged for closing fees. Sellers may pay buyer’s closing costs.

No prepayment penalties

You are free to pay off your loan early without being penalized financially. This can save you money on the interest you would have paid through the full term of the loan.



Refinance at a lower rate

Existing home owners may be able to refinance their loans at a lower rate, saving money by paying less interest over the life of their loan.

You may be wondering why the terms of VA loans are so advantageous to borrowers. The reason is that the U.S. Department of Veterans Affairs guarantees a portion of the loans, allowing private lenders to extend savings to you as homebuyers.

One final thing to keep in mind is the unique appraisal step that is required for a VA loan. The mandatory VA appraisal is intended to protect borrowers, ensuring they are buying a home that is safe, sanitary and fairly priced. Team Petros is experienced at scheduling VA qualified appraisers and can help make this process run smoothly. VA loans are becoming increasingly popular in Seattle proper, and lenders typically take on average 42 days to close. However, Team Petros can close VA loans in only 30 days despite the increase in demand!

VA loans offer a wide range of benefits, from not having to make a down payment to competitive interest rates. Let us help you find a home to call your own and take advantage of the benefits you’ve earned. Contact us today.