VA Loans

Unlock homeownership with $0 down, no monthly mortgage insurance

Prospera Mortgage offers you loans through top wholesale lenders to match you with competitive pricing, faster turn times, and options that fit first-time and repeat buyers alike.

Why Choose VA?

Lower Entry Costs & Flexible Credit

  • $0 down payment: with full entitlement (lender/investor caps apply).

  • No monthly mortgage insurance (MI): helps keep payment lower.

  • Competitive rates and flexible credit standards.

  • Assumable loans (with VA/servicer approval) for potential resale advantages.

  • Reusable benefitfi: Restore or use remaining entitlement when eligible.

Document Checklist

Be application-ready

  • Government ID & SSN

  • 30 days of paystubs; last 2 years W-2/1099; tax returns if applicable

  • Recent bank/asset statements

  • Insurance quote (purchase)

  • Current mortgage & insurance (refi)

  • Purchase contract & condo docs (if applicable)

Who’s a Great Fit?

VA works best when…

You are an eligible veteran, active-duty service member, or qualifying surviving spouse with COE.

You want $0 down and no monthly MI.

You plan to occupy the home as your primary residence.

You may later benefit from a Streamline (IRRRL) if rates improve.

VA Programs Available

VA Purchase $0 Down

Buy your primary residence with no down payment and no monthly MI. Great for maximizing affordability and cash-on-hand for move-in costs.

  • Seller-paid closing costs allowed within VA rules.

  • Flexible credit standards; competitive rates.

IRRRL (VA Streamline)

Already have a VA loan? The IRRRL can simplify refinancing with reduced documentation and often no appraisal if eligibility and net tangible benefit tests are met.

  • For existing VA-to-VA refinances only; no cash-out.

  • Lower rate/payment or stabilization goals required.

VA Cash-Out Refinance

Leverage your equity for renovations, debt consolidation, or other goals. We’ll model your new payment and breakeven vs. alternatives.

  • High-LTV cash-out options subject to VA and investor guidelines.

  • Owner-occupied only; seasoning and credit rules apply.

 

VA Loan FAQs

  • With full entitlement, VA loans allow $0 down up to lender/investor caps. You may still choose to put money down to reduce the funding fee or total payment.

  • A one-time, program-specific fee (often financed) that helps keep the benefit available. Eligible veterans with service-connected disabilities, and certain others, may be exempt.

  • Yes, an IRRRL can reduce rate/payment with less documentation and often no appraisal, if you meet eligibility and net tangible benefit tests. No cash-out with IRRRL.

  • Yes, with servicer/VA approval and buyer qualification. Assumability can be a resale advantage if market rates are higher than your existing note rate.

Prospera Mortgage LLC is an independent mortgage broker. Programs, rates, terms and eligibility are subject to change without notice and may vary based on borrower profile, property type, occupancy, and market conditions. Not a commitment to lend. All loans are subject to underwriting approval. Equal Housing Opportunity.