VA Loan Mortgage Disclosures and Disclaimers:
Eligibility Disclosure:
"VA Loans are available to eligible veterans, active-duty service members, and certain members of the National Guard and Reserves. Eligibility is determined by service requirements and honorable discharge status."
Funding Fee Disclosure:
A VA funding fee may apply, which can be financed into the loan amount. This fee helps sustain the VA loan program and varies based on service type, first-time or subsequent use of the benefit, and down payment amount."
No Down Payment Statement:
"VA loans typically do not require a down payment, however, a down payment may be beneficial in certain circumstances and can impact the loan terms."
No PMI Disclosure:
"VA loans do not require private mortgage insurance (PMI), which can result in significant savings compared to conventional loans."
Interest Rate Disclaimer:
Interest rates may vary based on market rates, borrower qualifications, and lender policies. Rates are subject to change without notice."
Loan Terms & Conditions:
"Loan terms, including but not limited to, loan amount, interest rate, and payment schedule are subject to your credit history and other factors."
Foreclosure Disclaimer:
"Borrowers must understand that failure to make timely mortgage payments may result in foreclosure."
Creditworthiness Disclosure:
"Approval of loan requests is subject to credit approval and borrower qualifications."
Offer Expiration Notice:
"This offer is subject to availability and subject to change without notice. Terms and conditions apply."
Not a Commitment to Lend:
This advertisement is not a commitment to lend. All loans are subject to approval."
Federal Housing Administration (FHA) and Department of Housing and Urban Development (HUD) Disclaimer:
"VA loans are not backed by the Federal Housing Administration (FHA) and are not insured by the Department of Housing and Urban Development (HUD)."