How to Determine If It’s Time to Refinance
Most people begin to explore the possibility of refinancing when mortgage rates start to fall. You may also decide to refinance if your income or credit score changes.
Arizona VA Loan Specialist
Serving Veterans NATIONWIDE.
My Mission - To provide and assist all veterans and active duty military with ALL of their VA Home Loan Financing Needs!
- Get a VA Loan.
- I am here to help you achieve home ownership.
- Call Me At 602-908-5849.
VIDEO: Jimmy Vercellino talks about VA loans on Good Morning Arizona.
- VA Loan misconceptions.
- Upcoming legislation changes to VA Loans.
- Why it's important to speak with a VA Loans Specialist.
Frequently Asked Questions
What is a VA Home Loan?
VA guaranteed loans are made by private lenders, such as banks, savings & loans, or mortgage companies to eligible veterans for the purchase of a home which must be for their own personal occupancy. The guaranty means the lender is protected against loss if you or a later owner fail to repay the loan. The guaranty replaces the protection the lender normally receives by requiring a down payment.
Learn MoreWhat Types of VA Loans Are Available?
Whether you are looking for a first mortgage, adding a second mortgage or trying to refinance an existing mortgage, it is helpful to understand more about the general loan classifications and types of VA loans available to you. Mortgage loans are categorized as either fixed rate mortgages (FRM), adjustable rate mortgages (ARM) or some combination (hybrid) of the two.
Learn MoreCan I Refinance a VA Loan?
Some worry that refinancing takes too much time and money, but fortunately the process is simple. Refinancing is simply the process of paying of your existing loan with a new one. Your new loan could be for a better interest rate, a shorter/longer term, or a different amount. In fact, your new loan could be an entirely different type. For example, instead of an adjustable-rate mortgage you could opt for a fixed-rate mortgage.
Learn More6 Simple Steps
How Do I Obtain a VA Home Loan?
1 - Select a Home
You select a Home and discuss the purchase with the seller or selling agent. Sign a purchase contract conditioned on approval of your VA home loan
2 - Select a lender
You select a lender and present them with your Certificate of Eligibility and complete a loan application
3 - Credit Report & Appraisal
The lender will develop all credit and income information. They will also request VA to assign a licensed appraiser to determine the reasonable value for the property. A Certificate of Reasonable Value will be issued. Note: You may be required to pay for the credit report and appraisal unless the seller agrees to pay.
4 - Approval
The lender will let you know the decision on the loan. You should be approved if the established value and your credit and income are acceptable
5 - Closing
You (and spouse) attend the loan closing. The lender or closing attorney will explain the loan terms and requirements as well as where and how to make the monthly payments. Sign the note, mortgage, and other related papers.
6 - Done
The loan is sent to VA for guaranty. Your Certificate of Eligibility is annotated to reflect the use of entitlement and returned to you.
Recent Blog Posts
VA Loan Occupancy Guidelines
VA loan privileges come with a few caveats. Communicate changes or special needs to stay in compliance with the occupancy certification.
Is it Safe to Co-Sign a Mortgage Loan?
Being asked to be a co-signer is both an honor and a potential concern. Figuring out whether it is safe to co-sign a mortgage loan is easier when you ask yourself these questions.
The Benefits of Paying Off Your VA Loan Early
Using your military status and experience to get the best interest rates on a home loan already puts you one step ahead. Making plans to pay off the loan early is another smart move.
Benefits of a Smart Home
There is no doubt that we are currently living in the golden age of technology. New software and electronic devices have made it possible to automate many aspects of our lives and home maintenance plans.
Tips for Smoothly Moving to a New House
Moves are known for being stressful, but yours doesn’t have to be too challenging. Over the years, we’ve watched and learned from the experiences of countless numbers of homebuyers.