VA Loan Products

Serving those who have bravely served in the Armed Forces.

VA Fixed Rate Loans - call me to find out what is needed to qualify (317) 603-0912

1. Loans up to $4M
2. 580+ FICO Up to 100% LTV
3. Fixed term only
4. Single family primary residence
5. Purchase & cash-out refinance
6. Available on single- and multi-wide manufactured homes, co-ops*, condos, PUDs and One-Time Close New Construction loans
7. Escrow waivers up to 100% LTV
8. Lender and seller paid Temporary Rate Buydowns available

Refinancing a VA loan you already have

If you already have a VA loan, the Interest Rate Reduction Refinance Loan, usually called an IRRRL or a VA streamline, is the simplest way to lower your rate. It generally requires no new appraisal and no new income documentation, which is what makes it faster and cheaper than a standard refinance.

There is a waiting period. You need six consecutive monthly payments on the existing loan, and at least 210 days must have passed since the first payment was due, whichever comes later.

An IRRRL can only lower the rate on the VA loan you already have. It cannot be used to take cash out. If you want to pull equity out of the home, that is a VA cash-out refinance, which works differently and goes up to 100% of the property value.

VA Home Loans in Indianapolis: A Benefit You've Earned

If you've served in the United States Armed Forces, the VA home loan benefit is one of the most powerful financial tools available to you, and it's one of the most underused. With no down payment required, no private mortgage insurance, and competitive interest rates, VA loans consistently outperform conventional financing for eligible borrowers. I've helped veterans and active-duty service members across the Indianapolis metro and throughout Indiana take full advantage of this benefit for years, and I'd be honored to help you do the same.

Who Is Eligible for a VA Loan?

• Veterans who served 90 consecutive days during wartime, or 181 days during peacetime
• Active-duty service members with at least 90 days of continuous service
• National Guard and Reserve members with 6 years of service, or 90 days under Title 32
• Surviving spouses of service members who died in the line of duty or from a service-connected disability

Not sure if you qualify? Call me directly at (317) 603-0912 and I'll walk you through entitlement and eligibility in plain language.

VA Loan Benefits vs. Other Loan Types

The VA loan benefit stands apart from every other mortgage program in three important ways. First, there is no down payment requirement, so eligible borrowers can finance 100% of the purchase price. Second, there is no private mortgage insurance (PMI), something conventional loans require when you put less than 20% down. Third, VA loans cap what lenders can charge in closing costs and prohibit certain fees entirely. The result is a lower cost to get in and lower monthly payments for the life of the loan.

VA Loans in the Indianapolis Area

Indianapolis is home to a large and proud veteran community, with Fort Benjamin Harrison's legacy still woven into the Lawrence neighborhood. Active-duty personnel stationed at Camp Atterbury or other nearby installations, as well as veterans throughout Hamilton, Hendricks, Boone, and Marion Counties, use VA financing every year to purchase homes in communities like Fishers, Carmel, Greenwood, and Noblesville. I understand the local market and the specific needs of military families, including quick closings when PCS orders don't allow much time.

Frequently Asked Questions About VA Loans

Can I use my VA loan benefit more than once?
Yes. VA entitlement can be restored after a previous VA loan is paid off or sold. You can also have two VA loans simultaneously in certain circumstances (e.g., relocating due to PCS orders). I can review your Certificate of Eligibility and explain your remaining entitlement.

What is the VA Funding Fee?
Most VA borrowers pay a one-time VA Funding Fee, which ranges from 1.25% to 3.3% of the loan amount depending on your down payment and whether it's your first VA loan. Some borrowers are exempt from the fee entirely, including Veterans receiving VA compensation for a service-connected disability, those entitled to receive it but taking retirement or active-duty pay instead, certain surviving spouses receiving Dependency and Indemnity Compensation, and active-duty service members with a Purple Heart awarded on or before closing. Exemption depends on your official VA status rather than a rating alone, so I verify it on your Certificate of Eligibility.

Can I use a VA loan to buy a multi-family property?
Yes. VA financing is available for 1- to 4-unit properties as long as you live in one unit as your primary residence. This is a popular way for veterans to build wealth through real estate while using a benefit they've already earned.

What is the VA IRRRL (Streamline Refinance)?
The Interest Rate Reduction Refinance Loan allows existing VA borrowers to refinance to a lower rate with minimal paperwork and no appraisal required in most cases. If rates have dropped since you took out your VA loan, this is one of the fastest and easiest refinances available.

How much down payment is required for a VA loan?
Many eligible borrowers can buy with no down payment, provided the price does not exceed the appraised value and you have sufficient entitlement. VA loans do generally carry a one-time VA funding fee (see below) that can be financed into the loan or paid at closing.

Who is eligible for a VA home loan?
VA home loans may be available to eligible Veterans, active-duty service members, National Guard and Reserve members, and certain surviving spouses. Eligibility depends on the type, dates and length of service, and the character of discharge. National Guard and Selected Reserve members may qualify through eligible active-duty service, or generally after six creditable years of qualifying service. The VA confirms eligibility by issuing a Certificate of Eligibility (COE), and I can help you request one and confirm whether your available entitlement covers the purchase you have in mind.

Is there a maximum VA loan amount in Indiana?
For a Veteran with full entitlement, VA sets no maximum loan amount and county loan limits do not apply. What limits you is what a lender will approve on your income, credit and the appraisal. If your entitlement is reduced, because another VA loan is still open or a prior VA loan was foreclosed, the county conforming loan limit is used to work out how much guaranty remains, and a down payment may be required above that. The 2026 baseline conforming limit is $832,750 for a single-family home. Your Certificate of Eligibility shows which situation applies to you.

Thank you for your service. Call Greg Rank at (317) 603-0912 to explore your VA loan options, or start your application here.

Related Resources

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• Current Mortgage Rates in Indiana
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