Wisconsin is a great place to live and a great place to buy a home. Various products have ranked it as the #4 least stressed state and the #1 state for millennials. They’ve called its capital city, Madison, the best place to live with its housing, schools, health care, and recreational opportunities as well.

If you’re a service member, veteran, or widowed spouse, you may be able to use a VA home loan to purchase your next Wisconsin residence with no down payment. Griffin Funding understands Wisconsin mortgages and is here to help you become a Wisconsin homeowner.

What exactly is an excellent Virtual assistant Mortgage?

Va funds are mortgage loans that are secured by Agency out-of Experienced Facts, aka brand new Va. These money were launched on the conclusion World war ii within the GI Statement out-of Liberties. New function you to definitely sets them apart from almost every other mortgage loans was that they’re have a tendency to provided by zero downpayment. Va funds were a major reason for the rise out-of homeownership regarding the postwar time, and additionally they consistently bring popular houses in order to service people, veterans as well as their parents today.

Sort of Virtual assistant Home loans

Va money are offered for the original acquisition of a property, in addition they may also be used having refinancing. Here are around three brand of Virtual assistant fund.

• Good Va pick mortgage can be used to get, make or increase a house. That is a separated single-home, a flat when you look at the a beneficial Virtual assistant-acknowledged investment, a produced house or even a great deal about what you plan to create.
• A great Virtual assistant Streamline Refinance loan (IRRRL), commonly titled a great Virtual assistant streamline re-finance, substitute a current Va Mortgage.