Veteran’s Administration Loans
Veteran's Administration (VA) loans are available to qualified veterans, active duty, reserves and National Guard personnel. Loans are residential mortgages, allowing for the purchase or refinance of an owner-occupied home. BB&T offers a variety of payment terms for VA loans.1
Overview
A VA loan offers the following benefits to service members looking to purchase or refinance a home:
- Low- or no-down-payment options
- Financing of VA funding fee1
- Unlimited seller contribution to buyer's closing costs
- Gift funds allowed
- Allows for limited income and credit history
Recommended For
A VA loan might be right for you if you are:
- A retired veteran, active duty military, National Guard or reservist buying or refinancing a home
- Would like to make a low down payment
- Are interested in 100% financing1
- Lack credit history
- Have income limitations
Terms
BB&T Home Mortgage offers the following terms for VA loans:
- 15-year fixed rate loan2
- 30-year fixed rate loan3
Access 24/7
Free to all BB&T mortgage clients, online banking provides 24/7 secure access to your mortgage account, along with your other BB&T accounts. With BB&T OnLine, your mortgage information is at your fingertips.
Complete Self-Service Tasks
- Make a payment
- Set up automatic payments
- Customize email alerts
- Update contact information
Get Loan Information at Your Convenience
- Review loan activity
- Access loan amortization schedule
- Evaluate payoff information
- Review year-end statement
Mortgage Loan Options
- Fixed Rate
- Adjustable Rate
- Veteran's Administration
- Construction to Permanent
- First Time Home Buyer and Low Down Payment
Work with a Local
Mortgage Professional
New Mortgage and Refinance Help
My Application
- Start New Application
- Resume Saved Application
- Check Application Status
- Manage & Sign Disclosures
- Upload or Fax Documents
Existing Mortgage Help
800-295-5744
1VA loans require a non-refundable VA funding fee at closing. The fee is higher with a zero down payment. Maximum loan amounts vary by county.
2For comparison purposes, a 15-year VA fixed rate mortgage of $200,000 with a 0% down payment at an APR of 3.036% with .250 points and no origination fee would result in 180 equal payments of $1,381.16. This payment does not include tax or insurance costs; the total payment obligation may be higher. This is a representative example based upon rates that were effective as of 6.13.13. Rates may change at any time.
3For comparison purposes, a 30-year VA fixed rate mortgage of $200,000 with a 0% down payment at an APR of 3.649% with 0 points and no origination fee would result in 360 equal payments of $926.23. This payment does not include tax or insurance costs; the total payment obligation may be higher. This is a representative example based upon rates that were effective as of 6.11.13. Rates may change at any time.
Interest rates and APRs are based on current market rates and are for informational purposes only. Rates are subject to change without notice and may be subject to increase based on property type, loan amount, loan-to-value, credit score and other variables. Call your local mortgage loan professional for more details. If mortgage insurance is required, the mortgage insurance premium could increase the APR and the monthly mortgage payment.
Adjustable-rate mortgage (ARM) rates and payments assume no increase in the financial index after the initial fixed period of the loan. ARM rates and monthly payments are subject to increase after the initial fixed period.
Property, and if applicable, flood insurance must be in effect on property securing the loan.
Subject to credit approval.
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