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About a VA Loan
If you are a Veteran, then the VA Loan is one of the best mortgage products on the market today. Looking to utilize your VA Loan, then read on. The VA loan has many advantages for home-ownership. To be eligible for a VA loan, you just need to meet an of the below requirements:
Served 90 days during wartime (Active Duty)
Served 181 days during peacetime (Active Duty)
Served 6 years in the Reserves or National Guard
You were Not dishonorably discharged
You can visit http://www.homeloans.va.gov/eligibility.htm to learn more if your situation differs and the following: https://en.wikipedia.org/wiki/VA_loan
Cash in on your benefits with a VA loan!
Are you a veteran, member of the military, or a surviving spouse of a veteran?
Do you want fast approval and minimal red tape?
Are you interested in refinancing up to 100% of your home, or buying a home with no down payment?
If you answered “yes” to any of these questions, a VA loan might be right for you!
So first, we would help you receive a valid Certificate of Eligibility (COE). The COE verifies to the lender that you are eligible for a VA-backed loan.
Most lenders have access to the Web LGY system. This Internet-based application can establish eligibility and issue an online COE in a matter of seconds. Not all cases can be processed through Web LGY – only those for which VA has sufficient data in our records. However, Veterans are encouraged to ask their lenders about this method of obtaining a certificate. (Please ask us!)
VA loan features:
No money down:
As you are more than aware, this is one of the most important aspects of the VA Loan!
No monthly PMI (Private Mortgage Insurance)
Because the loan is backed by the government, banks do not require PMI (private mortgage insurance) which is an added monthly expense.
Variety of Loan Programs: 30-, 20- & 15-year fixed-rate or 5 year ARM
Let us help you make the Best decision for you and your family!
Jumbo VA loans available up to $1,094,625 and up to $325,000 cash-out on a refinance
Refinance up to 100% of your primary home’s value
VA loans are fully back by the government!
Closing costs may be paid by seller
Right to prepay your mortgage without penalty
How VA loans work:
Fixed rate monthly payments are based on interest rate, principal loan amount and amortized interest over 15, 20 or 30 years. Your payment will not change throughout the life of the loan!
ARM interest rates are fixed for a period of 5 years. After the fixed-rate period, your interest rate can adjust up or down depending on the market
Your actual payment will vary based on your situation and the current interest rates when you apply
Pay your mortgage at any time without prepayment penalties