Mortgage VA Loan Legal Disclosures
Eligibility Requirement Disclosure
"VA Loans are available to eligible veterans, active-duty service members, National Guard, reservists, and certain surviving spouses. Proof of eligibility (COE) is required to qualify."
Government Agency Disclaimer
"This is not a government agency or Department of Veterans Affairs (VA)-affiliated website. VA does not endorse or sponsor this company or its services."
Competitive Interest Rate Claim Disclosure
"Interest rates offered through VA Loans are competitive and often lower than conventional loans. However, individual rates may vary based on creditworthiness, income, loan amount, and other factors."
Funding Fee Information
"A one-time VA funding fee is required for VA Loans, which can be financed into the loan amount. Some veterans may qualify for a funding fee waiver based on service-related disability status."
No Down Payment Claim Disclosure
"VA Loans typically require no down payment for eligible borrowers; however, down payment requirements may apply for loan amounts exceeding conforming loan limits or for other unique circumstances."
Third-Party Costs Disclosure
"While the VA Loan itself does not require private mortgage insurance (PMI), borrowers may still be responsible for closing costs, property taxes, homeowner's insurance, and other associated fees."
Equal Housing Opportunity Statement
"We are an Equal Housing Lender. We do not discriminate based on race, color, religion, sex, disability, familial status, or national origin."
Rate Lock & APR Disclosure
"Interest rates and Annual Percentage Rates (APR) are subject to change without notice. Rate locks are available for a limited time and require a formal agreement."
Credit and Underwriting Standards Disclosure
"Loan approval is subject to underwriting guidelines, including minimum credit score requirements and an evaluation of income, assets, and debt-to-income (DTI) ratio."
Residual Income Requirement Disclosure
"VA Loans require borrowers to meet residual income standards, ensuring they can manage living expenses after loan payments are made."
Borrower Counseling Recommendation
"We recommend borrowers consult with a financial advisor or housing counselor to fully understand the terms and obligations associated with VA Loans."
Loan Limits Disclosure
"While VA Loans do not have a maximum loan amount, the VA's guaranty limit may affect how much you can borrow without a down payment. Loan limits vary by county."
Federal Truth-in-Lending Act (TILA) Disclosure
"All loans are subject to the Federal Truth-in-Lending Act, ensuring borrowers receive clear and accurate information about loan terms and costs before proceeding."
Legal Disclosure:
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