Government
VA Purchase 100% Financing in Richmond, VA
Secure your VA Purchase 100% Financing in Richmond with a lender who understands the local landscape. We serve all of Richmond City, including Church Hill and Carytown, offering fast approvals and personalized service.
Key Facts About VA Purchase 100% Financing
CMRE VA loans require zero down payment for eligible veterans.
VA loans from CMRE have no private mortgage insurance requirement.
CMRE VA mortgages offer competitive interest rates below conventional averages.
VA loans at CMRE accept FICO scores starting at 580.
CMRE VA IRRRL streamline refinance requires no appraisal or income verification.
CMRE is an approved government lender for VA Purchase 100% Financing.
CMRE offers VOE-only and P&L options for VA Purchase 100% Financing.
CMRE closes VA Purchase 100% Financing in 25-35 days.
Program Benefits
100% Financing: Purchase a home with no down payment required.
Competitive Interest Rates: Potentially secure a loan with rates starting at 6.25%.
No Private Mortgage Insurance (PMI): Save money each month without the added cost of PMI.
Streamlined Application Process: CMRE's expert team simplifies the loan process for veterans.
Flexible Credit Requirements: Approvals available with a minimum FICO score of 580.
Assumable Loan: In many cases, VA loans can be assumed by qualified buyers, potentially offering a valuable benefit when selling your home.
Program Highlights
Max LTV
96.5%
Min Credit Score
580
Max DTI
55%
Loan Amount Range
$100K - $2M
Amortization Options
Eligible Properties
- Single Family
- Condo
- Townhouse
Program Requirements
Income Documentation
- •Stable and verifiable income history.
- •Debt-to-income ratio that meets VA guidelines.
- •Proof of sufficient income to cover mortgage payments, property taxes, and insurance.
Asset Verification
- •Sufficient funds to cover closing costs.
- •Verification of assets through bank statements or other documentation.
- •Demonstrate responsible financial management.
Insurance & Title
- •Proof of homeowner's insurance coverage.
- •Flood insurance may be required depending on the property's location.
- •VA requires properties to meet certain safety and habitability standards.
Property Requirements
- •Minimum FICO score of 580.
- •Demonstrate a history of responsible credit management.
- •No recent history of bankruptcy or foreclosure.
- •CMRE can help you understand and improve your credit score if needed.
VA Purchase 100% Financing in Richmond: The Complete Guide
What Is VA Purchase 100% Financing?
VA loans are a fantastic benefit earned through service to our country. Eligibility generally includes veterans, active-duty military personnel, and eligible surviving spouses. Specific requirements may vary based on length of service and other factors. CMRE can help you determine your eligibility and guide you through the necessary documentation process.
Eligibility for VA Purchase 100% Financing
- •Eligibility depends on the specific agency requirements (FHA/VA/USDA).
- •FHA: primary residence, meets HUD property standards, 580+ FICO (500 with 10% down).
- •VA: eligible military service or surviving spouse status, no down payment.
- •USDA: eligible rural area, income limits apply.
- •CMRE evaluates your situation and recommends VA Purchase 100% Financing or alternatives with lower total cost.
CMRE Specialty Programs for VA Purchase 100% Financing
- •VOE-Only FHA: qualify with employer verification only — no pay stubs or tax returns.
- •P&L FHA: CPA-prepared profit & loss for self-employed qualification.
- •FHA Streamline: refinance with no appraisal, no income verification.
- •VA IRRRL: streamline refinance for veterans with minimal documentation.
- •CMRE processes government loans faster than industry average.
Apply for VA Purchase 100% Financing with CMRE
- •Step 1: CMRE determines eligibility and provides rate estimate.
- •Step 2: Documentation varies by program (standard, VOE-only, or P&L).
- •Step 3: Pre-approval within 24 hours.
- •Step 4: Government appraisal and underwriting coordinated by CMRE.
- •Step 5: Closing in 25-35 days from application.
Current Mortgage Rates
30-Year Fixed Rate
6%
as of 3/5/2026 · FRED
15-Year Fixed Rate
5.43%
as of 3/5/2026 · FRED
Rates are national averages and may differ from your actual rate. Contact us for a personalized quote.
Get Your Rate →VA Purchase 100% Financing in Richmond, VA
Richmond VA mortgage lending. Conventional, FHA, and VA programs for Central Virginia. Custom Mortgage & Real Estate specializes in providing high-fidelity VA Purchase 100% Financing solutions tailored to the unique economic landscape of Richmond and the surrounding Richmond City.
Our FinTech-driven approach allows us to offer competitive rates and streamlined processing for homeowners and investors across the entireRichmond metropolitan area.
Service Areas & Neighborhoods
Our Richmond Presence
Local Knowledge. Global Rates.
16501 Ventura Blvd STE 400
Encino, CA 91436
Direct Line
877-976-5669Common Questions About VA Purchase 100% Financing in Richmond
What are current VA Purchase 100% Financing rates in Richmond, VA?
VA Purchase 100% Financing rates in Richmond depend on loan amount, credit profile, and property type. CMRE publishes updated Richmond rate ranges daily and provides locked quotes within 24 hours of application.
How long does VA Purchase 100% Financing closing take in Richmond?
CMRE typically closes VA Purchase 100% Financing loans in Richmond within 21-30 days from application. Pre-approval takes 24 hours, and our VA-licensed team coordinates title, escrow, and appraisal concurrently to save time.
What are FHA/VA loan limits in Richmond City?
FHA and VA loan limits in Richmond City are set annually by HUD and the VA. CMRE's Richmond team can confirm your current county limit and help you maximize your purchasing power within VA guidelines.
Do I need to be a veteran for VA Purchase 100% Financing in Richmond?
VA loans require veteran status or active military service. For non-veterans in Richmond, CMRE offers FHA and USDA government-backed programs with similarly competitive rates and low down payment requirements.
Application Process
Six simple steps from application to funding
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Why Choose Custom Mortgage?
Your trusted partner in real estate financing
Extensive Experience
Over 25 years of proven expertise in mortgage lending and real estate financing
Comprehensive Loan Options
Wide range of programs from conventional to specialized non-QM and hard money solutions
Nationwide Coverage
Licensed in multiple states with the ability to fund loans across the country
Flexible Solutions
Customized financing options for unique situations that traditional lenders decline
Competitive Rates
Access to wholesale pricing and volume discounts passed directly to our clients
No Upfront Fees
Transparent pricing with no application fees or upfront costs to get started
Frequently Asked Questions
The VA funding fee is a one-time fee charged on VA loans. It helps to offset the cost of the loan program for taxpayers. The fee amount varies depending on the loan type, down payment amount, and whether it's your first time using a VA loan. Certain veterans may be exempt from the funding fee.
Yes, VA loans can be used to refinance existing mortgages. The VA offers both cash-out refinance loans and streamline refinance loans (IRRRLs). A cash-out refinance allows you to take out equity from your home, while a streamline refinance is a simplified process for lowering your interest rate.
VA loans can be used to purchase a variety of property types, including single-family homes, condominiums, and townhouses. The property must meet the VA's minimum property requirements, which ensure it is safe, sanitary, and structurally sound.
FHA: 580+ (500 with 10% down). VA: no official minimum (generally 580-620). CMRE evaluates each case.
Most government programs require owner-occupancy. VA allows multi-unit (up to 4) if you live in one.
FHA: $498,257-$1,209,750 by county. VA: no limit with full entitlement. Contact CMRE for your county.
Yes. CMRE's VOE-only and P&L specialty programs make government loans accessible to self-employed.
25-35 days with dedicated government lending teams. Pre-approval in 24 hours.
VA Purchase 100% Financing by Location
Get local rates, loan limits, and market data for VA Purchase 100% Financing in your area.
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View county-level market data, loan limits, and mortgage rates on our territory pages.
Browse All Territories →TESTIMONIALS
Success stories from families and investors across the nation who achieved their goals with CMRE.
"I've been working with Custom Mortgage and Real Estate for over five years now, and they've totally helped me get through a bunch of tricky transactions. Their team is super helpful all the way through, making sure everything goes off without a hitch. I seriously recommend Custom Mortgage to anyone who needs financing or a solid real estate broker."
RENE M
"I just worked with Custom Mortgage and Real Estate, and seriously, I can't recommend them enough. They have helped my family and me with a bunch of transactions, always receiving results that nobody else could. Their team is super responsive and really experienced, which made everything go through smoothly with no stress at all."
ARTHUR G
"As an investor in real estate and an agent, I totally count on Custom Mortgage and Real Estate for my deals since they've got loads of experience. They have these unique programs that I just can't find anywhere else, and it really gives me an advantage. After researching a number of companies, the offers from Custom Mortgage were the best out there."
