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.
Use the following ideas to save for a down payment quickly and with minimal stress. In addition, to talking to a loan specialist can make home-buying stress free.
Use the following ideas to save for a down payment quickly and with minimal stress. In addition, to talking to a loan specialist can make home-buying stress free.
There are many processes to consider when applying for a VA Loan. To make the process easy, contact the Vercellino Team.
Buying a new home is a long term investment. Choose a house that will fit your lifestyle for years to come.
Home loans for veterans provide lifelong benefits. This means that you can reapply for this type of loan whenever you have some or all of your entitlement available and are ready to buy a new home.
A VA Refinance Loan is an option that can help you fund major home renovations so that you preserve your property’s value.
To honor Vietnam veterans, who often did not receive a hero’s welcome when returning home, Jimmy Vercellino and his team are recreating the welcome home experience they deserved.
