VA Loans

Thank you for your service!

A VA Loan is Designed to offer long-term financing to veterans. VA mortgage loans are issued by federally qualified lenders and are guaranteed by the U.S. Veterans Administration. The VA determines eligibility and issues a certificate to qualifying applicants to submit to their mortgage lender of choice. It is generally easier to qualify for a VA loan than conventional loans. Homequest Mortgage LLC is a VA approved lender located in Keizer and serving surrounding areas including [cities], and all of Oregon.

What is a VA Loan?

A VA Loan is provided by the Veterans Administration and has no down payment and no monthly mortgage insurance. It is designed to help veterans obtain home ownership more affordably than may otherwise be available through conventional or FHA loan options.

Benefits of VA Loans

There are many benefits to VA Loans beyond just no down payment. There is no monthly mortgage insurance, the interest rates are often lower than conventional loan rates, they require lower credit scores to qualify than conventional, and have higher county loan limits than a FHA loans do.

VA Loan Eligibility

VA Loans are available to active duty military, veterans, reservists and military spouses. If you have a DD214, NBG 22, or other statement of service showing creditable military service, we can use that to request a copy of your Certificate of Eligibility for VA mortgage benefits. We offer this service free of charge!

VA Loan Limits

Different counties have different limits on how much you can borrow for an VA Loan. VA follows the conventional loan limits and, for most of Oregon, they are $453,100 on single family homes, $580,150 on duplexes, $701,250 on triplexes, and $871,450 on fourplexes. BUT, VA does allow you to purchase a home OVER that limit, but anything over the limit will require a down payment. That down payment is equal to 25% of anything over the county limit. For example, on a purchase of a single family home for $500,000, which is $46,900 above the county limit, the down payment would be 25% of $46,900 = $11,725.

Get Pre-Approved for a VA Loan

If you are a veteran in Keizer, or anywhere in Oregon, contact Homequest Mortgage LLC at (503) 339-7914 for more information, or simply fill out the form on this page. Thank you for your service, and we look forward to working with you soon!