PacWest has specialized in providing VA Loans to eligible veterans since 1984.

There is NO DOWN PAYMENT required when purchasing a home.

You may also use your VA benefits to refinance or just to reduce your interest rate (referred to as a VA STREAMLINE REFI).

To be eligible, generally, you must have served on active duty for 181 days OR be currently serving on active duty. Since there are many other circumstances surrounding eligibility, we encourage you to apply for your Certificate of Eligibility. At PacWest, we can assist you with this process.

Generally, the veteran must have good credit, stable income and show a willingness and ability to repay the loan. At PacWest we encourage you to pre-qualify before beginning the home purchase process. Many times, we can guide you through credit history and income obstacles. A PacWest representative can explain this in more detail.

The interest rate and points on a VA Loan are now completely negotiable. You may also obtain a lower than market interest rate by requiring the seller to pay discount points. This insures that the veteran can obtain the best interest rate available.

Refinancing a VA Loan to Reduce Interest Rate

Veterans  refinancing  an  existing  VA  Loan  to  reduce  their  interest  rate  or  term
(VA STREAMLINE REFI ) may borrow up to 100% of the existing loan amount plus loan costs and reasonable discount points. This is a simple and quick process and there's no appraisal or re-qualifying at PacWest.

Frequently Asked Questions

QUESTION: I'm now on active duty, do I qualify for a VA Loan?
ANSWER: Yes. If you have served more than 181 days of continuous duty you qualify to use your loan guarantee benefits.

QUESTION: Can I use the eligibility more than once?
ANSWER: Yes. Loan guarantee benefits may be used more than once so long as the previous property was sold and the loan was paid in full or assumed by another qualifying veteran. You may also refinance your existing VA Loan with a new VA Loan.

QUESTION: I have had some past credit problems due to extenuating circumstances. Would I still qualify for a VA Loan?
ANSWER: Generally Yes. PacWest customers have had great success in overcoming credit problems. A PacWest representative can explain this in more detail.

QUESTION: Who actually loans the money?
ANSWER: Contrary to some beliefs, the VA does not lend money. The Veteran's Administration actually guarantees a portion of the loan (a minimum of 25% of the value). This reduces the loan-risk and in-turn, induces the lender to make the loan.

If you are considering the purchase or refinance of your home (for any reason), consider PacWest, a VA approved lender and providing the best for veterans since 1984.