Home in 5 Program – VA Loan

Today I wanted to talk with you about the VA Loan Home in 5 Program. Veterans and Active Duty Military are purchasing homes at the rapid rate. That said, I am seeing more and more military families taking advantage of this booming housing market here in Maricopa County AZ which is fantastic. With a booming market however, getting our offers accepted is getting tougher and tougher, with multiple offers coming in on homes and in many cases leaving Veterans seeking seeking home frustrated and unable to win the bid.

As many Veterans may have heard in the past one of the things that makes our VA Home Loan so competitive is the fact that it does not require a down payment. However, one of the things that I have observed in the past is  at times some of buyers may view closing costs, and pre-paid items costs as a barrier to home ownership. So naturally they ask the seller to pay for them. Keep in mind that by asking the seller to pay theses costs in a competitive marketplace, like Maricopa County, can make our VA Loan offer appear less attractive to the seller promoting them to accept an offer other than ours.

So what’s the solution you ask? I believe it’s the VA Loan Home in 5 Program which allows a Veteran to get as much as a 4.5% grant towards down payment, closing costs, and pre-paid items. Why is this important? It’s important because it literally can allow a Veteran to take advantage of a VA Loan with no down payment, and no out of pocket expenses! Yes, I said it… No down payment and no out of pocket expenses!

So if you are in the market to purchase a home you owe to yourself to check out this program to see if it’s the right fit for you. Keep in mind that we as Veterans must qualify for this loan. There are credit score requirements as well as income requirements so it’s important to ensure you are qualified before we start looking at homes.

To get prequalified for the VA Loan Home in 5 Program today roger-up with me direct at 480-351-5904 or email me at jimmy@valoansforvets.com

Semper Fidelis,

Jimmy Vercellino


Jimmy Vercellino Top Loan Originator 2016

First Choice Loan Services Recognizes Jimmy Vercellino

VA Loan Specialist Named Top Loan Originator

New Jersey-based residential mortgage lender First Choice Loan Services Inc. proudly announced that Jimmy Vercellino of its Scottsdale, AZ branch is the company’s Top Loan Originator of the Year.

This is the first year for First Choice Loan Services to name a Retail Loan Originator of the Year, and Jimmy is excited to receive the honor.

“Since this is a new award for our company, I had no idea that this was even a possibility, so I’m extremely humbled to be recognized as one of the first Retail Loan Originators of the Year,” said Vercellino. “I truly love what I do. Serving our country’s Veterans is my life’s calling. Knowing how these Veterans served and experiencing the sacrifices that they made, it helps me feel as though I’m continuing my service to our country. Aside from my family, being able to assist them in achieving the dream of home ownership is the most rewarding thing in my life.”

Embodying Core Values

Jimmy was chosen based on the ways he embodies the core values of First Choice Loan Services, and was selected from over 150 First Choice Loan Services Loan Originators. The company’s core values are:

  •  working with honesty and integrity
  • operating on a foundation of teamwork
  • respecting and honoring the worth of each individual
  • being proactively nimble
  • providing service beyond belief

First Choice Loan Services Scottsdale Branch Manager RJ Crosby is extremely proud of Vercellino for receiving this recognition.

“I’ve had the honor of working with Jimmy for several years now. He is not only a professional colleague but a personal friend. I am consistently amazed at the level of dedication and heart that he puts into his work. He is deeply devoted to his clients, specifically driven with a passion to serve the Veteran community. The exceptional service is able to provide them is nothing short of remarkable,” said Crosby.

First Choice Loan Services President and Chief Executive Officer Norman T. Koenigsberg believes Vercellino clearly earned this award.

“First Choice has exceptional Loan Originators throughout our company. Jimmy stands out not only for producing a high volume of VA loans but also for the way he invests and gives back to the VA community that he serves,” said Koenigsberg. “As a Veteran himself, he has a keen insight to the needs of his Veteran home buyers and home owners. He is able to relate to them in a way very few can. We are very fortunate to have Jimmy as part of the First Choice family.”

VA Loan Specialist

Jimmy specializes in VA loans for veterans and has been a featured speaker at Todd Duncan’s Sales Mastery events. His awards also include:

  • Top 1% of Mortgage Originators in American in 2015 by Mortgage Executive Magazine
  • Top VA Loan Volume by the Scotsman Guide for 2015

In his spare time, Jimmy volunteers with Hospice of the Valley, a hospice program specifically designed for Veteran patients.




Jimmy Vercellino Ranked a 2015 Top VA Loan Originator

First Choice News:
Jimmy Vercellino Ranked Top VA Loan Originator

VA Loan Originator Jimmy VercellinoEAST BRUNSWICK, NJ (April 1, 2016) – New Jersey-based residential mortgage lender First Choice Loan Services Inc., a wholly owned subsidiary of First Choice Bank, today announced that VA Loan Originator Jimmy Vercellino has been ranked a Scotsman Guide 2015 Top Originator. Vercellino was ranked #54 in Top VA Volume with him closing 151 loans and producing almost $38 million in volume.

Scotsman Guide, the leading resource for mortgage originators, released its seventh annual Top Originators rankings on April 1. The list, which ranks the nation’s top mortgage producers, appears in Scotsman Guide‘s April 2016 residential edition, and the rankings are available online at ScotsmanGuide.com/Top2015.

Vercellino was ranked among entries from more than 2,400 mortgage professionals across the country. To be eligible for initial consideration in Scotsman Guide’s Top Originators rankings, originators must have had at least $40 million in loan volume or 100 closed home loans for the 2015 calendar year. After receiving submissions, Scotsman Guide required written verification of top entrants’ volume data from a certified public accountant, the chief financial officer at the originator’s company or a similar source.

“It is truly an honor to appear in the Scotsman Guide ranking for Top VA Volume. So many outstanding leaders in the mortgage industry have appeared on this list, so I find it humbling to be among them,” said Vercellino. “This is also very rewarding. Because those who serve our nation make so many sacrifices, I believe it is my duty to give them a personalized mortgage experience with the highest level of attention to their long term financial goals. As a Veteran myself, I consider it my calling to continue to serve our nation’s finest through offering my deep understanding of the VA loan process.”

Executive Vice President of National Production James Iley is very excited about Vercellino’s accomplishment.

“In the years that I’ve been fortunate enough to work with Jimmy, he has always demonstrated an incredible commitment to providing Veterans and their families the knowledge, resources and guidance they need to find the home financing available to them,” said Iley. “The only thing that surpasses Jimmy’s expertise in this field is his passion to serve Veterans. Because of this, it is wonderful to see him featured in this way.”

About First Choice Loan Services Inc.

Headquartered in East Brunswick, New Jersey, First Choice Loan Services Inc. is a wholly owned subsidiary of First Choice Bank. Founded in 2009, the company is licensed to originate and close residential mortgage loans nationwide, excluding Arkansas. With 15 locations across 6 states and over 500 employees, First Choice Loan Services Inc. offers FHA and VA programs, Jumbo loans, fixed and adjustable rate loans, and refinancing and renovation programs. First Choice Loan Services Inc. is an Equal Housing Lender, NMLS #210764. Licensed by the New Jersey Department of Banking and Insurance. AZ BK# 0918586. To learn more about First Choice, visit https://fcloans.com/.

About Scotsman Guide Media Inc.

Scotsman Guide Media Inc. publishes a residential edition and a commercial edition of Scotsman Guide, in addition to Scotsman Guide News, Loan Post, Scotsman Guide Community and other platforms at ScotsmanGuide.com. Each month, the magazines reach tens of thousands of subscribers nationwide. Scotsman Guide is the leading resource for mortgage originators and connects mortgage originators with wholesale and commercial lenders.

Source: https://fcloans.com/jimmy-vercellino-ranked-as-one-of-the-nations-top-loan-originators/ 

VA Loan Process

I am very blessed and fortunate to be able to serve Veterans and Active Duty Service-members across this great nation with all of their VA Home Loan Financing needs. One general question that appears to pop up more often than not is simply this… “Jimmy, how does the VA Loan Process work?” So since I am asked that question so often I thought it would be a good idea to take some time to explain how the VA Loan Process works.

First the Veteran or Active Duty Service-member must understand that in order for us to use our VA Loan there are certain steps that we need to take. To get VA Loan Process started and going the Veteran must request a copy of their Certificate of Eligibility. Now remember Veterans that just because we have this form does not mean that we are able to use our VA Loan Benefits yet. We still must get prequalified by a lender to ensure we meet their guidelines…Which leads me to the second step – getting prequalified for your VA Loan. Once we get prequalified Veterans now we can get in contact with a Real Estate Agent and begin looking for homes in our price range that we have been pre-approved for.

Now remember warriors that The VA Loan Process can be complex. Once you go under contract either you or your Real Estate Agent will need to send a copy to your VA Loan Lender and allow them to order the appraisal. The Appraisal on a VA Loan should take 7-10 business days to get back. Once we have that info your VA Loan will be submitted to underwriting for approval. Once your approval issued the VA Loan Process is almost done. It’s time to order loan docs and have them sent to the Escrow Company for you to sign and finalize loan docs. So that’s it…a quick down and dirty regarding the VA Loan Process.

For more questions relating to VA Loans and The VA Loan Process in particular feel free to roger up with me at the contact information below.



FHA Loan and VA Loan Compared – Who Wins?

FHA Loan and VA Loan Compared – Who Wins?

Often times when a Veteran is getting ready to purchase a home they will ask me “is a VA Loan the best route for me to go?” My answer to that question is simple…Yes! Truth be told if I were purchasing a home I would ask the exact same question. It’s important to understand the loan product and type that you are receiving (after all it is for 30 years) and that it’s competitive against other mortgage options. Reasons such as this is exactly why I wanted to put together a quick video explaining the differences between FHA Loans and VA Loans and most importantly how they stack up against each other when put side by side.

It’s important to understand and remember that every loan has different charactoristics associated with it. For example on a VA Loan the VA Loan allows a Veteran to purchase a home up to $417,000 with no money down. A FHA Loan however caps the Veteran (in Maricopa County) at $270,050. Furthermore FHA also requires a 3.5 % where as the VA Loan does not. Lastly the FHA loan requires something called Private Mortgage Insurance (PMI) which requires .85% of the loan amount on an annual basis making the FHA significantly more expensive over the life of the loan.

Take a moment to watch the video and see how the VA Loan compares and of course if you have any questions over anything at all feel free to roger up with me and I would be honored to be of service to you.

Semper Fidelis,
Jimmy Vercellino

VA Loans Nationwide

If you would have asked me 10 Years if I would be helping Veterans in other states about helping them with their VA Loan Benefits I wouldn’t have believed you. Today, because of the huge response that I receive from Veterans across our great nation I find myself writing a blog about it. Wow! It’s truly amazing and I feel so blessed that I have the opportunity to serve Veterans across the U.S. will all of their VA Loan Financing needs.

Having said all of that it still remains a question that I get from Veterans which feels like on a daily basis from Veterans that are finding me online. That question “Jimmy can you do VA Loans in other states?” The answer…absolutely. With First Choice Loan Services we are licensed to lend in about 46 out of 50 states so I would say the chances are pretty good that we are going to be able to assist Veterans with VA Loans in other states. So let’s do the right thing and just make sure we are good to go and we can get to work right away with getting you ready to use your VA Loan Benefit.

For more questions about VA Loans please feel free to contact me directly 480-351-5904 or you can email me at jimmy@fcbmtg.com

VA Loans in Tucson AZ

VA Loans in Tucson AZ are becoming increasingly more popular. According to the US Census Bureau there are over 40,000 Veterans living in the city. Also keep in mind that Tucson is home to one of the largest Air Force Bases in our country (Davis Monthan Air Force Base) providing the city with a rich military feel on top of it’s already great history.

One of the things that I am seeing more of is Veterans and Active Duty Service-Members using and seeking information on how their VA Home Loan Benefits work. For Pima county and VA Loans in Tucson AZ the maximum loan amount for a VA Loan is $417,000 with now down payment. Veterans looking to purchase a home above $417,000 may do so by fulfilling the remaining guarantee on the loan (contact us for more details). To qualify for a VA Loan the Veteran must have at least a 600 credit score (keep in mind this score may change from lender to lender). The Veteran must also provide income and asset documentation allowing the lender to calculate a debt-to-income ratio. The max debt-to-income ratio will vary dependent upon the overall VA Loan package.

VA Loans also come in all different shapes and sizes. A Veteran may obtain a 30,25,20,15 Year Fixed Rate VA Mortgage. The Veteran may also look at obtaining a 5 Year Adjustable Rate Mortgage with their VA Loan- commonly referred to as a VA Hybrid. Keep in mind that when Veterans are looking to obtain VA Loans in Tucson AZ they will want to pick the right Mortgage Lender. Most Lenders do not specialize in VA Loans and are unfamiliar with the details possibly making the loan experience more difficult than it needs to be.

Veterans and Active-Duty Service Members seeking to apply for a VA Loan in Tucson AZ can simply click on the following link www.VALoansForVets.com/Apply and either myself or a member of my team will contact you the same business day, or if it’s after hours, the next.

Jimmy Vercellino is a Marine Corps Veteran and Mortgage Originator Specializing in VA Loans. Jimmy’s mortgage practice serves Veterans with VA Loans in Tucson AZ as well as Phoenix. His Mission is simple: To provide and assist all Veterans and Active Duty Service Members with all of their VA Home Loan financing needs.

VA Loan Certificate of Eligibility

va coeThe VA Loan Certificate of Eligibility is a very confusing form for Veterans. As a Mortgage Originator Specializing in VA Loans I have to be honest in telling you that many lenders are even confused about this form. What is it? What does it mean? How do you read it? How do you get it? All of which are very real and valid questions when discussing such a form.

First let us start with the basics. The VA Loan Certificate of Eligibility is simply a form provided by the Department of Veterans Affairs to lender which states that you (the Veteran) are eligible for the VA Loan. It does however say that the Veteran is prequalified for the VA Loan. Keep in mind when seeking a VA Loan the Veteran must be prequalified in addition to obtaining the form.

Next let us take a look how to read it. On the VA Loan Certificate of Eligibility you will see the following verbiage. “This Veterans Basic Entitlement is $36,000.” Do not be alarmed. This does not mean that you can only get a VA Loan for $36,000 – all that means is that the VA guarantee’s the loan up to $36,000 for a loan up to $144,000. Now, there is something else called Bonus Entitlement – this amount is $68,250. For loans above $144,000 this will kick in. If you take a look at both of these numbers you will notice that the total of the two is $104,250 which happens to be twenty-five percent of $417,000 which is typically the maximum loan amount a Veteran can obtain with no money down. Remember Veterans that VA does not lend the money – they simply on insur the loan. Keep in mind you can have one of these forms and not be prequalified for a VA Loan (which is why it’s so important to consult with a VA Loan Specialist up-front).

For more information regarding your VA Loan Certificate or to obtain a copy feel free to roger up with us direct at jimmy@valoansforvets.com

Thank you and may God bless you for your service to our great country!

Semper Fidelis,
Jimmy Vercellino


VA Loan Training for Real Estate Agents

For nearly a decade I have been doing VA Loan Training for Real Estate Agents here in Arizona and across the nation and I must be honest with you. Teaching is my passion and I absolutely love to do it. It gets my excited for a number of reasons really. Number one, I have seen so many Real Estate Agents go out and serve Veterans and Active Duty Service Members allowing them to take advantage of their VA Loan Benefits as a direct result of something they learned in my VA Loan Training course. Zig Ziglar a man of faith and motivational speaker use to say ” You can anything you want in life if you will just help enough other people get what they want.” I love that. For so many years we have  been fortunate enough to serve Veterans and Active Duty as well as Real Estate Agents allowing them help Vet’s buy and sell their homes the right way.

Below is a course that I recently taught at the Southeast Valley Regional Association of Realtors titled All you need to know about VA Loans.” As mentioned I have been teaching this VA Loan Training course for Real Estate Agents for nearly 10 years and have helped hundreds of Real Estate Professionals navigate the often times misunderstood VA Loan process. My recommendation for you would be to watch the video and go out, spread the news, and educate as many of our Nation’s Finest past and present and educate them about their VA Home Loan Benefits.

“When making a buying decision look for somebody with the heart of a teacher and not the heart of a salesman.” – Dave Ramsey