Areas We Serve

Griffin Funding proudly provides our financing services to veterans and service members throughout the state of Massachusetts. So no matter where you’re at, we have the program to fit your needs. If you’re in search of a VA loan in Massachusetts, here are just some of the cities we serve:

  • Boston
  • Salem
  • Worcester
  • Springfield
  • Cambridge
  • Quincy
  • Rockport
  • Stockbridge
  • Provincetown
  • Nantucket

How Do VA Loans Work in Massachusetts?

VA home loans in Massachusetts work by providing veterans, active-duty service members, and eligible spouses with mortgage financing that is guaranteed by the U.S. Department of Veterans Affairs (VA). This guarantee, also known as a borrower’s entitlement, substantially lowers the financial risk to VA loan lenders. As a result, Griffin Funding is able to offer veterans highly competitive VA loan rates, which makes it easier for service members to purchase a home or refinance their mortgage. 

As you explore VA home loans in Massachusetts, it’s important to understand the difference between full entitlement and bonus entitlement. Essentially, if you qualify for a VA loan but have never used one or have already paid off a previous VA loan, you should have full entitlement. This means that the VA will guarantee as much as 25% of your total loan amount, regardless of the VA loan limits in Massachusetts. 

On the other hand, if you’re currently paying off a VA loan, have defaulted on one in the past, or still own a home you bought with a VA loan, then you may only have partial entitlement. In this case, VA loan limits in Massachusetts are more relevant, as the VA will guarantee 25% of the loan, but only up to the loan limit of the county you’re buying in. If your loan amount exceeds your entitlement, you may also have to make a down payment. 

Types of VA Loans Available

Griffin Funding is proud to offer several types of VA loans in Massachusetts, including:

  • VA Purchase Loan
    This type of loan can be used by qualified veterans and service members to purchase a new home. VA purchase loans are the standard type of VA loan that borrowers can use to purchase a house with no down payment. This type of mortgage offers highly competitive rates and beneficial terms. 
  • VA Cash-Out Refinance Loan
    The VA cash-out refinance loan gives qualified veterans the chance to extract cash from their home’s equity while refinancing their existing VA or conventional loan with a lower rate. This loan effectively replaces the current loan, and can provide a homeowner with extra cash to use for debt payments, home upgrades and repairs, or other needs. VA cash-out loans can go up to 100% of the value of the home.
  • VA Streamline Refinance Loan
    A VA streamline refinance loan, also known as an interest rate reduction refinance loan (IRRRL) is a popular option for Massachusetts homeowners who have already taken advantage of a VA loan and would simply like to refinance to a lower interest rate. These loans boast several advantages over traditional refinancing, including no appraisal, no pest inspection, no income qualification, no need to get another Certificate of Eligibility, and little to zero out-of-pocket costs.

VA loan rates in Massachusetts are very competitive when compared to conventional home loans. Check out today’s VA loan rates to see for yourself. Then, get yourself a VA loan pre-approval with Griffin Funding to lock in your rate and take the first step towards owning a new home. 

Benefits of VA Home Loans in Massachusetts

Because VA home loans in Massachusetts are partially backed by the US Department of Veterans Affairs, Griffin Funding is able to offer VA loans that offer highly competitive rates, no down payments, and flexible qualifying criteria when compared with traditional home loans. If you’re wondering whether a VA loan in Massachusetts is right for you, consider these benefits:

  • No down payment required
  • Highly competitive interest rates 
  • FICO scores as low as 550 accepted
  • No need for private mortgage insurance (PMI)
  • Limited closing costs
  • No prepayment penalties
  • Cashout up to 100% of the property’s value 

All of these benefits help make buying a home much more affordable for qualifying service members, veterans, and surviving spouses. Curious to see how much your monthly payment might be if you took out a VA loan? Use our free VA loan calculator to get a better idea of what your mortgage payments would look like with a VA loan. 

VA Loan Requirements in Massachusetts

When applying for a VA loan in Massachusetts, you’ll need three key items to get the process started:

  • Valid identification: This can be in the form of a driver’s license or other government-issued ID.
  • Certificate of Eligibility (COE): This document is specific to the VA loan and proves that you meet the necessary service requirements to receive the loan. A COE is obtained from the VA and, if you’re planning on taking out a VA loan at some point, we advise you to work on obtaining your COE sooner rather than later. If you need help obtaining your COE, reach out and we’ll be happy to assist. 
  • Proof of income: This may include pay stubs, bank statements, tax returns, and W-2 tax forms.

Once you’ve applied, we will review your application to ensure you meet the necessary requirements. Keep in mind that strong financial metrics such as a high income, good credit score, and low DTI ratio will help you secure better rates and terms. 

If you’re trying to build up your credit or working on your finances before applying, download the Griffin Gold app to monitor your financial strength and get on the fast track for a VA loan.

Work With an Experienced VA Loan Lender in Massachusetts

VA loans in Massachusetts are a fantastic way for veterans and service members to get into their first home, refinance their current home, or pull cash from their home equity. We at Griffin Funding are proud to serve Massachusetts veterans, and our knowledgeable staff is standing by to guide you on your path to fulfilling the dream of homeownership. Reach out today to learn more about VA loans in Massachusetts or fill out an application to get started.