At The Cooperative Bank of Cape Cod, we thank you for your service and are proud to offer VA financing through the Department of Veterans Affairs. The VA loan offers expanded underwriting guidelines, low interest rates, and doesn’t require any money down to help better serve the housing needs of our veterans. Learn more below or call one of our experienced loan officers to get started!
VA Loan Features
- Purchase, rate and term refinance, cash out refinance up to 100% loan to value ratio. This makes it easier to get into your home and helps keep more money in your pocket after closing! You do not need to be a first-time homebuyer to use this loan. If you’ve used it in the past, you can use the VA loan again! Loan amount not to exceed the fair market value of the property as determined by property appraisal.
- No monthly mortgage insurance helps to keep your payments low. An upfront funding fee is paid directly to the VA, and most buyers opt to include this in the amount they borrow rather than paying out of pocket.
- Discounted closing costs and interest rates. As a thank-you to our veterans, we reduce your closing costs and offer low interest rates to help keep your costs and payments affordable. Your closing costs can come in the form of a gift or from the home seller. Contact a Coop Loan Officer to learn more!
- Minimum property condition requirements will determine whether the home is safe and sound. Our appraiser will determine if there are any property condition issues and, if so, will require they be remedied prior to closing.
- VA Escape Clause and pest inspection. The VA requires all parties sign the VA Escape Clause on purchase transactions, which protects veterans if the property appraises for less than the agreed upon purchase price. The VA also requires a pest inspection and wood-destroying insect report be completed at no expense to the veteran.
- Primary residence. 1-4 unit homes and eligible condominiums for a primary residence purchase only.
- Available for eligible veterans, active military members, members of the Reserves and National Guard, and surviving military spouses. Eligibility is determined by using a Certificate of Eligibility (COE), learn more HERE.
Our Most Popular Checking and Savings
Along with the VA loan, The Coop offers checking and savings accounts featuring all the conveniences you need with the friendly, comfortable service we are known for.
- Free Debit Card
- Free transactions at all branch and Allpoint Network ATMs1
- Free Online Banking2
- Free Bill Pay2
- Free paper or eStatements
- Free Mobile Banking with Mobile Deposit2
- Free Thank You Gift
- FDIC and SIF insured
Positively Free Checking also features:
- Free order of welcome checks3
- Unlimited check writing
Positively Different Savings4 also features:
- Earn interest on balances over $0
The VA Loan Program goes well with. . .
Looking For A Different Type of Home Loan or Account?
We have a variety of options, and we know we have the perfect personal loan for you.