Loan Options | VA Loans

Thank You To Our Veterans & Service Members*

$500

Toward Closing Costs
On All Applications Taken in November 2021**

GMM is proud to work with Military Families and Veteran Homebuyers. Our experienced Loan Officers can help you navigate the home mortgage process to get you into your new home with ease.

Thank you for your service and the sacrifice you and your family have made.

About VA Loans

A VA loan is a mortgage guaranteed by the U.S. Department of Veterans Affairs (VA) specifically for members of the military to buy and refinance homes. Eligible veterans, active-duty service members, reservists and their spouses may be able to finance a home with no down payment and flexible credit requirements.

VA entitlement is linked to the VA guarantee, which works like mortgage insurance and protects a lender against losses if you default, much like mortgage insurance charged on conventional and FHA loans. However, the VA guarantee isn’t added to your monthly payment or charged as a lump sum, resulting in a lower VA monthly payment compared to a low down payment conventional or FHA loan.

If you’ve served in the Army, Navy, Air Force, Marines, Coast Guard, Public Health Service Corps, or National Oceanic and Atmosphere Administration (NOAA) Corps, you may have earned VA loan benefits.

You may be eligible if you:

Served 2 years Regular Service
Served 6 years Reserves/National Guard
Served 90 days Active Duty during war-time
Served 181 days Active Duty during peacetime
Released early for duty-related disability
Are a surviving spouse of a veteran
Are a cadet or midshipmen of a U.S. military academy
Are a member of certain other Federal service orginizations

3 VA Home Loan Benefits:

VA home loans often have lower interest rates and closing costs than conventional loans
You may not have to make a down payment and mortgage insurance is not required
You do not have to pay a penalty if you pay off your VA home loan early

How Do I Apply for a VA Home Loan?

You will need to get a Certificate of Eligibility (COE) to prove you are eligible for a VA loan. Then you can apply for a VA loan through George Mason Mortgage.

Where can I get my COE?

Typically, you can apply for a COE through www.ebenefits.va.gov. However, in some cases, your lender may be able to establish your eligibility and obtain your COE online. Ask us about using this method to obtain a COE.

Can I refinance my VA Loan?

Yes, there are VA Loan refinance options. Learn more here.

Fixed-Rate and Adjustable-Rate (ARM) Loan Options
No private mortgage insurance requirement
100% financing up to the VA lending limit in your area¹
No Down Payment Required (in most cases)
Right to prepay loan without penalties
Closing costs comparable – and sometimes lower – than other financing types
Mortgage can be taken over (or “assumed”) by the buyer when a home is sold. (Must be VA eligible)
Counseling and assistance available to veteran borrowers having financial difficulty or facing default on their loan

1. VA loans require a non-refundable VA funding fee at closing. Maximum VA loan amounts vary by county. George Mason Mortgage, LLC is not endorsed by, or affiliated with any government agency or program.