VA Loans

VA Loans

Designed to offer long-term financing to American 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.
VA loans are available for active-duty service members, veterans, current or former National Guard or Reserve members, and surviving spouses.
This loan may be used to buy a home or refinance an existing home loan.
Here’s how it works:

  • 100% financing without private mortgage insurance or 20% second mortgage
  • A VA funding fee of 0 to 3.3% (this fee may be financed) of the loan amount is paid to the VA
  • When purchasing a home, veterans may borrow up to 100% of the sales price or reasonable value of the home, whichever is less
  • When refinancing a home, veterans may borrow up to 90% of reasonable value in order to refinance where state law allows
  • Must present Certificate of Eligibility (COE)
  • Limited closing costs
  • VA home loan is a lifetime benefit, you can use the guaranty multiple times
  • Basic entitlement available to each eligible borrower is $36,000. Loans exceeding the available entitlement are available without a down payment providing the borrower’s income and credit qualify and property appraises for the asking price
  • Maximum financing is $647,200. VA does not set a cap on how much you can borrow, however there are limits on the amount of liability VA can assume
  • Competitive interest rates
  • 0% down payment

To find out more about VA loans visit

Apply today for your VA loan. Click below.

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 American,Soldier,With,Family,Outdoors.,Military,ServiceAll loans subject to credit approval

Getting started is easy. We offer very competitive rates, have great service, and always close on time.


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F&M Bank Mortgage
1401 Health Center Parkway
Yukon, OK 73099