Why Choose PBT Bancorp for Your VA Loan
A VA home loan is one of the strongest benefits you earn through your service, and at PBT Bancorp we have spent decades helping Veterans and their families put that benefit to work. Our team has helped over 3,000 families across the country buy a home or refinance and save money.
Because we are both an FDIC member bank and a wholesale broker licensed in all 50 states, we shop your loan across our network of over 35 wholesale lenders to find the right fit for your situation instead of pushing you into a single product. That matters more than most buyers realize, because the larger the lender the higher the closing costs usually are, and many of the big national lenders turn away borrowers that we are able to help every day. We work with credit scores as low as 500 on VA purchases, and we typically close loans in 2 to 3 weeks when many lenders take 30 days or longer. Call us anytime at 800-697-4371.
The Benefits of a VA Home Loan
Backed by the U.S. Department of Veterans Affairs, a VA home loan removes most of the barriers that make buying a home difficult, which is why it is so often the best loan a service member can use.
- No down payment
- No monthly mortgage insurance
- Competitive interest rates
- Flexible credit requirements
- A benefit you can use more than once
Who Qualifies for a VA Home Loan
The VA home loan program is built for the military community, and most service members and Veterans qualify once they meet the service requirements. Most active-duty members qualify after 90 days of continuous service during wartime or 181 days during peacetime, while National Guard and Reserve members typically qualify after 6 years of service. Veterans who separated or retired with qualifying service are eligible, and surviving spouses of service members can qualify for the same benefits.
The proof of your eligibility is your Certificate of Eligibility, sometimes called your COE, and you do not have to track it down yourself. We pull your COE for you so you know exactly where you stand before you start shopping. If you are not sure whether your service qualifies, take the quick eligibility quiz below or give us a call and we will walk through it with you.
Find out if you qualify
5 quick questions. Takes under a minute. You'll get a clear answer on whether you likely qualify and what to do next.
How Much a VA Home Loan Costs
The two biggest costs of a conventional loan, the down payment and the monthly mortgage insurance, are exactly what a VA loan removes. Most VA buyers do pay a one-time VA funding fee, but it can be rolled into the loan rather than paid out of pocket, and Veterans with a VA service-connected disability are often exempt from it entirely. Use the calculator below to estimate your monthly payment, and we will go over your exact numbers together before you commit to anything.
VA Home Loan FAQs
Can I use a VA loan more than once?
Yes, your VA entitlement is a benefit you can use again. Once a previous VA loan is paid off your full entitlement is restored, and in some cases you can have more than one VA loan at the same time depending on your remaining entitlement.
What credit score do I need for a VA loan?
The VA itself does not set a minimum credit score, individual lenders do. We have lenders who accept scores as low as 500 on VA purchases, where most lenders require 620 or higher.
Do I need a down payment?
No, for most eligible buyers with full entitlement a VA loan requires $0 down, which is the single biggest advantage of the program.
How long does it take to close?
We typically close VA loans in 2 to 3 weeks from start to finish, and faster if your timeline requires it, where many larger lenders take 30 days or longer.
Ready to use your VA benefit?
Give us a call at 800-697-4371 or complete our online pre-qualification form to get started. This is not the only type of VA loan that we offer, so call us today to find out more.