For all those who are proudly serving our country, or who have served in the past, the US Department of Veterans Affairs (VA) does offer one of the best mortgage deals around.
VA home loans are one of the least expensive mortgages available. Lenders who are able to offer VA financing are able to assist qualified applicants with purchasing, or refinancing their primary residences with the ability to offer 100% financing, no monthly mortgage insurance premiums and great interest rates.
Did you know:
- VA loans may not require a down payment
- VA loans amounts CAN exceed the County loan limits -down payment of 25% is required ONLY on the amount greater than the loan limit. EX. Loan limit: $726,525, Sales price: $800,000. Difference: $73,475. Down payment required: $73,475 x 25% = $18,368.75. Eligible loan amount – $818,369.
- Qualified applicants can have more than one VA home loan at the same time
- Entitlement may allow for 100% financing even if you currently have a VA home loan
- Disabled veterans are not required to pay a VA funding fee
- VA mortgages allow cash out refinancing up to 100% of the value of the home
- VA mortgages offer a streamline refinance option that can be offered without an appraisal, or credit qualifying. Mortgage must be current and without mortgage lates in the last 6 months and applicant must currently be employed. Credit scores are not verified on non-credit qualifying applicants.
- Basic refinance costs can be financed into the new mortgage vs. paying closing costs out of pocket.
***NEW RENOVATION FEATURE AVAILABLE***
Finance up to $35,000 in repairs, upgrades or minor renovations into your loan amount. Must be minor and cosmetic in nature. Home must appraise for total amount financed.
We thank you for your service!
Need to check your available VA entitlement? Generals questions?
Click HERE to connect with us, or to have us contact you
Curious if you qualify? – Call or email us directly, or Pre-Qualify Here
Call us at (240) 670-5090 or email us at CJMT@mainstreethl.com
