VA Loans: Great Benefits, Easy Qualifying

The U.S. Department of Veterans Affairs offers a number of programs designed to help veterans acclimate and thrive in their communities after serving their country. VA loans are just one of the benefits designed to help veterans, servicemembers and their families. They have no down payment requirement, and they have minimal financial eligibility requirements. If you’re interested in learning more about VA loans and their benefits, contact AmeriSouth Mortgage Company to learn more. We work with people looking for homes in Charlotte, Fort Mill, West Jefferson, Huntsville, and Greensville, NC.

VA loans are funded by private lenders, but they’re insured by the Department of Veterans Affairs. Because the VA reimburses lenders if a borrower defaults, lenders are encouraged to fund a wider range of applicants, even if they have less than great credit or financial standing. Ultimately, these private lenders make the determination about who is and isn’t approved for a loan.


The VA itself does not make specific requirements about these loans, other than that veterans and current servicemembers must have met certain service requirements. Veterans should obtain a certificate of service (COE) if they want to apply for a VA loan. Certain surviving spouses of veterans killed during or as a result of service may also be eligible for VA loans. Private lenders ultimately determine what minimum credit score they will accept, but a score of at least 620 is a good benchmark.


Perhaps the greatest draw for a VA loan is that there is no down payment requirement. Conversely, conventional loans can require as much as 20% down. There is no official limit for VA loans, although the VA does limit how much it will guarantee on a loan. In Mecklenburg County, the VA will only insure up to $484,350.00. A veteran or servicemember can still get a VA loan for higher than that amount, but will need to pay a down payment on the difference between that limit and the value of their home.


If you’d like to learn more about VA loans from AmeriSouth Mortgage Company, contact us today. We serve clients in Charlotte, Fort Mill, West Jefferson, Huntsville, and Greensville, and would love to help you find the home and financing of your dreams.



AmeriSouth Mortgage Company NMLS: #67050
NORTH CAROLINA: License #L-104114
SOUTH CAROLINA: License #MLS – 67050
TENNESSEE: License #135614
GEORGIA: License #13572

(Georgia Residential Mortgagee Licensee)


Contact Us

AmeriSouth Mortgage Company
2101 Sardis Road North
Crown Centre Suite 120
Charlotte, NC 28227
Phone: (800)849-2378


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