My Mission - To provide and assist all veterans and active duty military with ALL of their VA Home Loan Financing Needs!
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 MoreWhether 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 MoreSome 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 MoreYou 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
You select a lender and present them with your Certificate of Eligibility and complete a loan application
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.
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
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.
The loan is sent to VA for guaranty. Your Certificate of Eligibility is annotated to reflect the use of entitlement and returned to you.
Choosing the right time to buy a house helps you maximize the returns on your purchase. Many people also find that timing is everything for finding a house that is in their preferred neighborhood, or that meets other needs.
The year 2020 is looking up for active duty service members and veterans ready to buy a home.
New changes to the VA loan program include benefits that help people overcome increases in housing prices.
Mortgage payments are one of the largest expenses that most homeowners include in their budget. The recent pandemic has left many homeowners scrambling to pay their bills.
Most home buyers have heard about private mortgage insurance. You may even be able to avoid having to buy PMI if you make a large enough down payment or get a certain type of loan.
The value of your home represents the amount that potential buyers are willing to pay during a purchase. This amount can vary significantly, depending upon what a buyer feels is valuable.
