The Best Choice For Military And Veterans
A VA loan is perhaps the most powerful and flexible lending
option on the market today. Rather than issue loans, the VA
instead pledges to repay about a quarter of every loan it
guarantees in the unlikely event the borrower defaults. That
guarantee gives VA-approved lenders greater protection when
lending to military borrowers and often leads to highly
competitive rates and terms for qualified veterans.
Far and away, the most significant benefit of a VA loan is the borrower's ability to purchase with no money down. Apart from the government's UDSA's Rural Development home loan and Fannie Mae's Home Path, it's all but impossible to find a lending option today that provides borrowers with 100 percent financing.
VA loans also come with less stringent underwriting standards and requirements than conventional loans. In fact, about 80 percent of VA borrowers could not have qualified for a conventional loan. These loans also come with no private mortgage insurance (PMI), a monthly expense that conventional borrowers are required to pay unless they put down at least 20 percent of the loan amount.
Benefits of VA Loan
Down payment as low as 0%.
Higher allowable debt-to-income ratios than many other loans.
No mortgage insurance required
No prepayment penalties
Active duty service members and veterans.
Those who served 90 consecutive days of active service during wartime.
Those who served 181 days of active service during peacetime.
Those with more than 6 years of service in the National Guard or Reserves.
Streamline Refinancing (IRRL)
Closing costs and fees can be rolled into the new loan (out-of-pocket expenses).
The IRRRL allows you to refinance into a fixed rate or adjustable rate loan.
You must be current on your mortgage with no more than one 30-day late payment within the past year.
Your monthly payment for the IRRRL must be lower than the previous loan's monthly payment.
Changing the terms of your VA loan can benefit you and maximize your home's eequity. Refinancing can allow you to free-up money for home improvements, emergencies, pay off debt, or any other purpose. Let us help you decide whether or not you should refinance your current mortgage at a lower interest rate.
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Our Happy Clients
"I wanted to let you know how impressed I was with the job everyone did at your company. I have refinanced several times in the past and usually pick the company that has the lowest rates. Of course I did the same when I chose your company. However, this time I received great service to go with the low rate."
"I just wanted to thank you for constantly following up with me. The last time I refinanced it seemed as if I always had to follow up with the mortgage company. Thanks for staying on top of everything and keeping things moving forward."
"Your company was so much more professional than the last mortgage company I used. Every question I asked was answered honestly and accurately. I would recommend you to anyone."