VA Loans in MN and WI from Cambria Mortgage


If you are active military, or former military, the VA mortgage loans are one of the best benefits given to you for your service.

The VA mortgage loans extend to not only the Army, Navy, Air Force and Marines but also to Reservists and National Guardsmen.

Some of the benefits of the VA Mortgage Loan Program are:

The VA Mortgage Loans are no money down up to $417,000
• No monthly Mortgage Insurance is required
• VA Mortgage Loans are assumable
• It is easier to qualify for a VA Loan than a conventional loan
• VA Mortgage Loans can be streamline refinanced


No Money Down Up to $417,000

You do not have to put any money down to qualify for a VA Home Mortgage Loan for up to $417,000 in Wisconsin.


If the seller agrees to pay the closing costs (and they almost always do), you may be able to purchase the home with no out of pocket cost.


The VA mortgage loan and home purchase agreement can be set up so that the VA Home Mortgage Loan cover 100% of the selling price and the seller covers the closing cost.


Down payment required for homes over $417,000

You can still buy your WI home over $417,000 with a VA loan, but now you will need a downpayment.  The down payment amount is roughly 25% of the difference between the homes purchase price, and $417,000.


For example if you were to buy a $517,000 home in WI, you would need a down payment around $25,000. 


Contact us at (651) 552-3681, or though our online inquiry page to calculate your exact VA down payment amount for jumbo VA Loans.


WI VA Funding Fee

The Veterans Administration assesses a Funding Fee to all VA loans between .5% and 3.3% of the loan amount. The fee is added into the amount of the loan to be paid over the life of your VA home mortgage loan. The VA Funding Fee replaces the much higher priced Mortgage Insurance required when you get a conventional home loan. If you are a Disabled Veteran, you may qualify to get the fee waived completely.


WI Assumable VA Mortgage Loans

VA loans are also assumable, which means you can let someone else take over your loan in the future.


VA Streamline Refinance - VA Loans - Mortgages, MN, WI, SDIf the person assuming the mortgage is a veteran with VA eligibility, the original veteran will not be giving up the amount of eligibility that they used to get the loan a the beginning. Veterans should use great care and closely investigate the terms of an assumption before allowing someone to assume their mortgage. It is too great a benefit to give up.


Qualifying for a VA Mortgage Loan in WI


The VA offers excellent qualifying standards. Even if you have experienced some financial difficulties in your life that caused your scores to be lower, but have maintained a good payment record over the past year or so, you may qualify for a VA mortgage loan.


We offer VA Loans in WI with credit scores as low as 620. This can be a tremendous savings compared to the cost of conventional loans when the borrower's credit scores are low.




Looking to lower the monthly payment on your existing VA Loan?  The VA offers a streamline refinance in WI known as an IRRRL Loan. VA mortgage loans have built in features allowing a loan to be refinanced to a lower interest rate without all of the criteria normally associated with a conventional loan.


With this Interest Rate Reduction Refinance Loan, the veteran can secure a lower interest rate with less paperwork, and maybe even without an appraisal. Closing costs of the transaction can be rolled into the loan, so there are no out of pocket costs. Learn more about the VA streamline refinance here.


Getting Started

VA Mortgage Application - Minneapolis, St Paul, MN



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Zero Down Payment VA Loans in MN, WI, SD

Approved VA Lender in MN, WI, SD The Department of Veteran Affairs requires those who offer VA Loans go through a stringent approval process. We are a VA approved mortgage lender and are proud to help military families use their VA Loan Benefits. We are not acting on behalf of, or under the direction of the VA or the Federal Government. The Veterans Administration does not lend directly to the public, only through approved lending institutions like Cambria Mortgage.