VA Loan Programs

VA loans don’t require a down payment and are a great option for military veterans, active duty, & all qualified servicemembers.

On June 22nd, 1944, President Roosevelt signed the Servicemen’s Readjustment Act of 1944, also known as the G.I Bill. The G.I Bill has evolved, so all qualified servicemembers, Veterans, and surviving spouses get the benefits they earned and deserve. The VA loan program helps first-time homebuyers with a program with low rates, no down payment, and no private mortgage insurance. The Refinance options help you lower payments, get cash out, pay off debt and make renovations. ReNew Lending is an approved VA lender, and we are proud to serve our nation’s heroes.

eBenefits Certificate of Eligibility

This link is for the eBenefits website, a service of the Department of Veterans Affairs and the Department of Defense.

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Download VA form 26-1880

Downloadable PDF of VA form 26-1880, “REQUEST FOR A CERTIFICATE OF ELIGIBILITY”

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Loan Limit Map

VA follows the loan limits set by Fannie Mae for conventional loans. Use this map to see the loan limit in your area.

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VA Guidelines

Read through the following for a complete understanding of the VA Guidelines.

Minimum $75,000 Loan Amount
Flood Zone ineligible for VA Financing
Credit score < 580: email loanscenarios@renewlending.com for review/guidance if loan may proceed or not; max 90% LTV

Purchase

-Primary Occupancy
-580 Credit Score (Per AUS)
-LTV 100%

Manual u/w eligible at 580

Rate/Term Refinance

-Primary Occupancy
-580 Credit Score (Per AUS)
-LTV 100%

Manual u/w ineligible

Cash Out Refinance

-Primary Occupancy
-600 Credit Score (Per AUS)
-LTV 90%

Manual u/w ineligible

IRRRL Refinance

-Primary Occupancy
-580 Credit Score
-LTV 100%
*NO APPRAISAL*

Manual u/w ineligible

Property Types

-SFR
-PUD
-Condo (Must be currently VA Approved, not expired or pending status)
-2-4 Unit (O/O only)

Must meet VA Guidelines (Engineer Cert/Perm Foundation)

LTV/CLTV

-Manufactured Homes:
Purchase & R/T Refinance limited to 95%; Cash Out limited to 80% LTV

AUS Responses

-AUS Approve/Eligible Recommened Minimum 580 Score

-Manual U/W Eligible at 580 Score

Bankruptcy and Foreclosure

-Bankruptcy > 2 years

-Short Sale > 2 years

-Foreclosure > 4 years to be eligible

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ReNew will no longer charge our previous lender fee of $1695 on all VA loans.

VA Loan Programs

VA Home Purchase

The VA Purchase Program offers a loan that requires no down payment , credit score as low as 580, DTI up to 55%, wide range of amortization terms and max loan limit depends on the County. Primary Residences only.

VA Cash Out Refinance

VA Cash Out Refinance Loan Program offers a loan that requires at least 10% equity in the house, credit score as low as 580, DTI up to 55%, wide range of amortization terms and max loan limit depends on the County. You can lower your rate, change your loan terms, pay off debt and get cash back. Primary residence only.

VA Rate Term Refinance

The VA Rate Term Refinance Loan Program offers a loan that doesn’t requires any equity in the house, credit score as low as 580, DTI up to 55%, wide range of amortization terms and max loan limit depends on the County. You can lower your rate, change your loan terms and get up to $2000 cash back. Primary Residences only.

VA IRRRL Refinance

The VA Interest Rate Reduction Refinance Loan (IRRRL) Program is the VA’s Streamline Program that offers a option that doesn’t requires any equity in the house, no appraisal is needed, credit is checked but only to check that mortgage payments must be on time, DTI up to 55%, wide range of amortization terms and max loan limit depends on the County. You can lower your rate, change your loan terms and get up to $2000 cash back. Primary Residences only.

VA Rate Term High Balance Refinance

The VA High Balance Refinance Loan Program is for loans that go over the standard County Loan Limits. The program does not require any equity in the house but you might need at least 5% equity for pricing to work out. Credit score as low as 580, DTI up to 55%, wide range of amortization terms and max loan amount depends on the county. You can lower your rate, change your loan terms and take up to $2000 cash out. Primary Residence Only.

VA Cash Out High Balance Refinance

The VA Cash Out High Balance Refinance Loan Program is for loans that go over the standard County Loan Limits. The program does not require any equity in the house but you might need at least 5% equity for pricing to work out. Credit score as low as 580, DTI up to 55%, wide range of amortization terms and max loan amount depends on the county. You can lower your rate, change your loan terms and take cash out. Primary Residence Only.

VA Purchase

* FICO scores as low as 580.
* No down payment.
* No Private Mortgage Insurance.
* VA funding fee options.
* 30YR, 25, 20YR, 15YR, and 10YR fixed term.
* ARM options available.
* Debt to income ratio up to 55%.
* Primary residence only.
* Single family residences, condo’s, multi-family units, townhouses, PUD and manufactured homes.

VA Refinance

* FICO score as low as 580.
* No private mortgage insurance.
* VA funding fee options.
* 30YR, 25, 20YR, 15YR, and 10YR fixed term.
* ARM options available.
* Debt to income ratio up to 55%.
* IRRRL Streamline Program available.
* Primary residences.
* 2nd homes only under the IRRRL program.
* Single family residences, condo’s, multi-family units, townhouses, PUD and manufactured homes.

Eligibility Breifing

This Eligibility Briefing will help you find out who can qualify based on thier service history and duty status.

Active Duty

If you have 90 continuous active duty days

Veterans

The VA bases Veteran status is based on time frames and length of service. Details regarding time frames and length of service are below.

National Guard

6 creditable years in the National Guard and one of the descriptions below is true for you:
* Were discharged honorably, or
* Were placed on the retired list, or
* Were transferred to the Standby Reserve or an element of the Ready Reserve other than the Selected Reserve after service characterized as honorable, or
* Continue to serve in the Selected Reserve
Between August 2, 1990, and the present (Gulf War) need 90days of active duty time.

Coast Guard

6 creditable years in the Coast Guard and one of the descriptions below is true for you:
* Were discharged honorably, or
* Were placed on the retired list, or
* Were transferred to the Standby Reserve or an element of the Ready Reserve other than the Selected Reserve after service characterized as honorable, or
* Continue to serve in the Selected Reserve
Between August 2, 1990, and the present (Gulf War) need 90days of active duty time.

Reserves

6 creditable years in the Selected Reserve and one of the descriptions below is true for you:
* Were discharged honorably, or
* Were placed on the retired list, or
* Were transferred to the Standby Reserve or an element of the Ready Reserve other than the Selected Reserve after service characterized as honorable, or
* Continue to serve in the Selected Reserve
Reservist between August 2, 1990, and the present (Gulf War) need to show 90days of active duty time.

Surviving Spouses

One of these must be true to qualify for a Certificate of Eligibility from the VA.
* Is missing in action, or
* Is a prisoner of war (POW), or
* Died while in service or from a service-connected disability and you didn’t remarry, or
* Died while in service or from a service-connected disability and you didn’t remarry before you were 57 years old or before December 16, 2003, or
* Had been totally disabled and then died, but their disability may not have been the cause of death (in certain situations)

Midshipmen at Naval Academy

A certificate of eligibility is the best way to see if you qualify. If you don’t have one, either apply for it on the va.gov site or Renew can apply for you also. If you have or receive your certificate of eligibility, then you qualify

Public Health Officer

A certificate of eligibility is the best way to see if you qualify. If you don’t have one, either apply for it on the va.gov site or Renew can apply for you also. If you have or receive your certificate of eligibility, then you qualify

Cadet at United States Military, Air Force or Coast Guard Academy

A certificate of eligibility is the best way to see if you qualify. If you don’t have one, either apply for it on the va.gov site or Renew can apply for you also. If you have or receive your certificate of eligibility, then you qualify

Officer of the National Oceanic & Atmospheric Administration

A certificate of eligibility is the best way to see if you qualify. If you don’t have one, either apply for it on the va.gov site or Renew can apply for you also. If you have or receive your certificate of eligibility, then you qualify

Merchant seaman during World War II

A certificate of eligibility is the best way to see if you qualify. If you don’t have one, either apply for it on the va.gov site or Renew can apply for you also. If you have or receive your certificate of eligibility, then you qualify

A U.S. citizen who served in the Armed Forces of a government allied with the United States in World War II

A certificate of eligibility is the best way to see if you qualify. If you don’t have one, either apply for it on the va.gov site or Renew can apply for you also. If you have or receive your certificate of eligibility, then you qualify

What if I don’t meet the minimum service requirements?

You must have been discharged for one of these reasons:
* Hardship, or
* The convenience of the government (you must have served at least 20 months of a 2-year enlistment), or
* Early out (you must have served 21 months of a 2-year enlistment), or
* Reduction in force, or
* Certain medical conditions, or
* A service-connected disability (a disability related to your military service)

Veterans

Details about Veteran status are below. When did you serve?

Between September 16, 1940, and July 25, 1947 (WWII)

90 total days, or Less than 90 days if you were discharged for a service-connected disability.

Between July 26, 1947, and June 26, 1950 (post-WWII period)

181 continuous days, or Less than 181 days if you were discharged for a service-connected disability.

Between June 27, 1950, and January 31, 1955 (Korean War)

90 total days, or Less than 90 days if you were discharged for a service-connected disability.

Between February 1, 1955, and August 4, 1964 (post-Korean War period)

181 continuous days, or Less than 181 days if you were discharged for a service-connected disability.

Between August 5, 1964, and May 7, 1975 (Vietnam War), or February 28, 1961, to May 7, 1975, if you served in the Republic of Vietnam

90 total days, or Less than 90 days if you were discharged for a service-connected disability.

Between May 8, 1975, and September 7, 1980 (post-Vietnam War period), or
Between May 8, 1975, and October 16, 1981, if you served as an officer

181 continuous days, or Less than 181 days if you were discharged for a service-connected disability.

Between September 8, 1980, and August 1, 1990, or
Between October 17, 1981, and August 1, 1990, if you served as an officer

24 continuous months, or The full period (at least 181 days) for which you were called to active duty.

You separated from service after September 7, 1980, or
After October 16, 1981, if you served as an officer

24 continuous months, or The full period (at least 181 days) for which you were called or ordered to active duty, or At least 181 days if you were discharged for a hardship, a reduction in force, or for convenience of the government, or Less than 181 days if you were discharged for a service-connected disability.

Between August 2, 1990, and the present (Gulf War)

24 continuous months, or The full period (at least 90 days) for which you were called or ordered to active duty, or At least 90 days if you were discharged for a hardship, a reduction in force, or for convenience of the government, or Less than 90 days if you were discharged for a service-connected disability.

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ReNew is dedicated to offering multiple different loan programs to meet our clients’ specific needs. Whether you are a first time home owner or you’re looking at buying another rental property, ReNew offers a variety of options to ensure our clients are getting the best service possible.

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Conventional Loans

Conventional loans are good for everyone from first time home owners to real estate investors looking at rental properties.

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FHA Loans

FHA loans generally require a lower minimum down payment and lower credit scores than many conventional loans.

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USDA Loans

USDA loans don’t require a down payment and are a good option for homes in qualified rural areas.

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VA Loans

VA loans don’t require a down payment and are a great option for military veterans, active duty, & all qualified servicemembers.

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Loan Calculators

Conventional Loan Calculator

Use this calculator to estimate your monthly home loan payments if you use a fixed-rate conventional mortgage.

Home Purchase Calculator

Use this calculator to estimate your monthly payment, including principal, interest, taxes, insurance and PMI.

Refinance Calculator

Use this calculator to estimate how much you can save by refinancing your loan to a lower rate or shorter term.

Client Testimonials

Don’t take our word for it – here’s what our clients say:

I am happy to say that working with Renew Lending was an awesome experience in buying our new home. The process went smooth and answered all of our questions buying a house is difficult enough but working with the team at Renew Lending just made it so much easier. Thank you again Eduardo and team at Renew Lending! Thumbs up !!!

Maria Sanchez

Renew Lending and team were amazing. They were able to rush through the whole process in record time. Doing everything online made the experience really easy. It’s a very streamlined system. Much better than working with a bank which priorities might be elsewhere. Renew Lending is specialized so it makes the process really easy. All automated, upload materials on the system and get a very personalized experience. I totally recommend Renew Lending and will keep using them for future purchases and refinances.

Joe Neuah

Renew Lending is undoubtedly the most professional and efficient lender I’ve ever worked with. They see bumps on the road long before you get there, and is able to handle anything that arises with professionalism and tact. My clients and I appreciate their hard work and dedication. Their attention to detail is superb. Loans can be quite daunting and scary but with Renew on our side, every deal is a great success! Thank you Renew for always treating my clients and I as if we are the only client you have. You’re the best!

Libby Brown