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Veteran Loans

Hawk Mortgage helps Servicemembers, Veterans, and eligible surviving spouses become homeowners through their VA benefits. As part of their mission to serve you, the VA provides a home loan guaranty benefit and other housing-related programs to help you buy, build, repair, retain, or adapt a home for your own personal occupancy.

These fantastic opportunities are just one of the aspects of Hawk Mortgage that we think will certainly appeal to you as a future home buyer. Veteran Mortgage loan companies like Hawk Mortgage are here to help you every step of the way. The VA guarantees a portion of your VA Home Loan, enabling the us here at Hawk to provide you with more favorable terms.

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Different Types of VA Loans

Purchase
Loan

Veterans or families of veterans may be eligible for a VA-backed purchase loan. This will allow for better terms than with a private-lender loan. This includes lower interest rates and maybe shorter terms.

Native American Direct
Loan (NADL) Program

Native American veterans or veterans married to Native Americans may be eligible for a NADL. This allows for a home to be built or bought on federal trust land.

Interest Rate Reduction
Refinance Loan (IRRRL)

Some who have VA-backed home loans can qualify for an IRRRL. This may help to reduce their monthly mortgage payments.

Cash-Out
Refinance Loan

For home improvement projects, paying off debt, or saving for a wedding or school, you may want to explore a way to take cash out of your home equity.

Main Pillars of the VA Loan Benefit

  • No Down Payment Required
Note: Lenders may require down payments for some borrowers using the VA home loan guaranty, but VA does not require a down payment with veterans home loans.
  • Competitively low interest rates
  • Limited closing costs
  • No need for Private Mortgage Insurance (PMI)
  • The VA home loan is a lifetime benefit: you can use the guaranty multiple times

VA Loan Benefits

  • Purchase Loans
Help you purchase a home at a competitive interest rate often without requiring a down payment or private mortgage insurance. Cash Out Refinance loans allow you to take cash out of your home equity to take care of concerns like paying off debt, funding school, or making home improvements.
  • Interest Rate Reduction Refinance Loan (IRRRL)
Also called the Streamline Refinance Loan can help you obtain a lower interest rate by refinancing your existing VA loan.
  • Native American Direct Loan (NADL) Program
Helps eligible Native American Veterans finance the purchase, construction, or improvement of homes on Federal Trust Land, or reduce the interest rate on a VA loan.
  • Adapted Housing Grants
Help Veterans with a permanent and total service-connected disability purchase or build an adapted home or to modify an existing home to account for their disability.
  • Foreclosure Avoidance Assistance
The VA provides financial counseling to help Veterans avoid foreclosure during periods of financial difficulty.
  • State Resources

Many states offer resources to Veterans, including property tax reductions to certain Veterans.

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Eligibility Requirements

Your length of service or service commitment, duty status and character of service determine your eligibility for specific home loan benefits. What does that mean? A good way to break this down is as follows: A U.S. serviceperson serves for a period of four years, from 2008-2012, rating an Honorable Discharge for honorable and faithful service during their contract, and is pre-approved for a Certificate of Eligibility (COE) when applying for VA Home Mortgage benefits. 

*Eligibility now includes National Guard members with at least 90 days of active service including at least 30 consecutive days under Title 32, Sections 316, 502, 503, 504 or 505.

  • Purchase Loans and Cash-Out Refinance: VA-guaranteed loans are available for homes for your occupancy or a spouse and/or dependent (for active-duty service members). To be eligible, you must have satisfactory credit, sufficient income to meet the expected monthly obligations, and a valid Certificate of Eligibility (COE).
  • Interest Rate Reduction Refinance Loan (IRRRL): The IRRRL is a "VA to VA" loan, meaning it can only be done if you have an existing VA guaranteed loan on the property. The IRRRL is generally performed to lower the interest and reduce the monthly payment on the existing VA guaranteed loan.
  • Native American Direct Loan (NADL) Program: The NADL program helps Native American Veterans purchase, construct, improve, or re-finance a home on Native American trust lands. Your tribal organization must participate in the VA direct loan program. You must have a valid Certificate of Eligibility (COE).
  • Adapted Housing Grants: VA helps Veterans with certain total and permanent disabilities related to your military service obtain suitable housing with either a Specially Adapted Housing (SAH) or Special Housing Adaptation (SHA) grant.

How to apply for Veteran Loan?

Purchase Loan & Cash-Out Refinance: VA loans are obtained through a lender of your choice once you obtain a Certificate of Eligibility (COE). You can obtain a COE through eBenefits, by mail, and of course through us here at Hawk Mortgage.

Interest Rate Reduction Refinance Loan: A new Certificate of Eligibility (COE) is not required. You may take your Certificate of Eligibility to show the prior use of your entitlement or we here at Hawk Mortgage may use our e-mail confirmation procedure in lieu of a certificate of eligibility. 

Native American Direct Loan (NADL) Program: First, confirm that your tribal organization participates in the VA direct loan program. NADL loans are obtained through a lender of your choice once you obtain a Certificate of Eligibility (COE). You can obtain a COE through eBenefits, by mail, or we here at Hawk Mortgage will assist you in this process. 

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