No money down
VA Mortgage Loans
Iowa Mortgage Solutions is an approved VA Mortgage lender for the state of Iowa. No money down for veterans, with 100% financing reaching a 580 credit score on a purchase, if all program parameters are met.
Earned through service, worth actually using.
The VA loan program was established by Congress in 1944, and it still does something almost no other program does: no money down for veterans, with 100% financing reaching a 580 credit score on a purchase. Worth being clear about how it works, too. The VA does not make the loan itself. A veteran applies through a qualified lender, and that's the seat Iowa Mortgage Solutions sits in.
Refinancing with a VA loan
If you already hold a VA loan, the VA IRRL, the interest rate reduction refinance loan, is a streamline option built for lower cost and lower documentation. If you want to pull cash out of the home instead, a VA cash out refinance can reach up to 90% of the property's appraised value.
IMS is an approved VA Mortgage lender for the state of Iowa. Call (319) 377-1988.
The VA numbers in writing
No rate quoted here. These parameters, we can put in writing.
100%
financing on a purchase
Down to a 580 credit score, with no money down for veterans.
90%
cash out cap
A VA cash out refinance can reach up to 90% of the home's appraised value.
1944
established by Congress
The VA loan program has been in place for over 80 years.
24 mo
peacetime service needed
For service between July 1947 and September 1980, 24 months of continuous active duty applies.
Who qualifies
Broader than most people assume.
Eligibility covers veterans, active duty service members, reserve troops, and certain surviving spouses, including honourably discharged wartime veterans. Peacetime service between July 1947 and September 1980 needs 24 months of continuous active service to qualify. A discharge for a service related injury after 181 days of active service also qualifies.
If you're not sure which category you fall into, that's a five minute phone call, not a form to fill out on your own. Call (319) 377-1988 and describe your service history.
Ready to see where you stand?
Call (319) 377-1988 or send it in writing. Either way, our goal is a credit decision the same day, or within 24 hours.