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    If you are active military, or former military, the VA mortgage loans are one of the best benefits given to you for your service. The VA mortgage loans extend to not only the Army, Navy, Air Force and Marines but also to Reservists and National Guardsmen.

    Some of the benefits of the VA Mortgage Loan Program are:

    • The VA Mortgage Loans is guaranteed for no money down up to $484,350
    • No monthly Mortgage Insurance is required
    • Many VA Mortgage Loans are assumable
    • It is easier to qualify for a VA Loan than a conventional loan
    • VA Mortgage Loans can be streamline refinanced

    No Money Down Up Duluth MN area or all of Minnesota and Wisconsin

    You do not have to put any money down to qualify for a VA Home Mortgage Loan. If the seller agrees to pay the closing costs, you may be able to purchase the home with no out of pocket cost. The loan and sales contract can be set up so that the VA Home Mortgage Loan cover 100% of the selling price and the seller covers the closing cost.

    The VA Funding Fee

    The Veterans Administration assesses a Funding Fee to all VA loans between .5% and 3.60% of the loan amount. The fee is added into the amount of the loan to be paid over the life of your VA home mortgage loan. The VA Funding Fee replaces the much higher priced Mortgage Insurance required when you get a conventional home loan. If you are a Disabled Veteran, you may qualify to get the fee waived completely.

    Assumable VA Mortgage Loans

    VA loans are also assumable. If the person assuming the mortgage is a veteran with VA eligibility, the original veteran will not be giving up the amount of eligibility that they used to get the loan a the beginning. Veterans should use great care and closely investigate the terms of an assumption before allowing someone to assume their mortgage. It is too great a benefit to give up.

    Qualifying for a VA Mortgage Loan

    The VA offers excellent qualifying standards. Even if you have experienced some financial difficulties in your life that caused your scores to be lower, but have maintained a good payment record over the past year or so, you may qualify for a VA mortgage loan. We lend with scores as low as 640. This can be a tremendous savings compared to the cost of conventional loans when the borrower's credit scores are low.


    Looking to lower the monthly payment on your existing VA Loan? The VA offers a streamline refinance program, also known as an IRRRL Loan. VA mortgage loans have built in features allowing a loan to be refinanced to a lower interest rate without all of the criteria normally associated with a conventional loan. With this Interest Rate Reduction Refinance Loan, the veteran can secure a lower interest rate with less paperwork, and maybe even without an appraisal. Closing costs of the transaction can be rolled into the loan, up to 100%


    One of the coolest VA loan options is the cash out refinance loan.  VA allows you to take cash out up to 100% of the value of the home, including any funding fee. You can use the money for anything you want. As with all VA loans, there is no mortgage insurance, and the interest rates are generally lower than conventional loans.

  • VA Approved Lender

     The Department of Veteran Affairs requires those who offer VA Loans go through a stringent approval process. We are a VA approved mortgage lender and are proud to help military families use their VA Loan Benefits.  We are not acting on behalf of, or under the direction of the VA or the Federal Government. The Veterans Administration does not lend directly to the public, only through approved lending institutions like Cambria Mortgage.

    To get started on your VA loan application, just call (218) 303-5626 in the Duluth MN or northern MN area, or (651) 552-3681 in the metro area. Better yet, simply answer a few online application questions. A VA Loan specialist will contact you within just a couple of hours to let you know what you qualify for.

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