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A VA-guaranteed loan is a
loan made by private lenders (such as banks, savings & loans, or
mortgage companies) to eligible veterans. If you want to purchase or
refinance The process of paying off one loan with the proceeds from a
new loan using the same property as security. A home, condominium or
manufactured home, the VA can guarantee up to $417,000 of the total loan
-- much higher than you can get with most conventional home loans.
Better yet, there is no need to worry about financing a down payment.
The portion of the home purchase price which the buyer pays in cash and
does not finance with a mortgage. on a VA loan. However certain funding
fees Percentage of total home loan paid to the VA at time of loan
closing and closing costs Expenses (over and above the price of the
property) incurred by buyers and sellers in transferring ownership of a
property. Also called settlement costs apply, and you must be able pay a
portion of these fees upfront.
With a VA guarantee, you get
a mortgage Legal document that pledges a property to the lender as
security for payment of a debt. With a competitive interest rate. The
lender you borrow money from is protected against loss up to the amount
of the guarantee if you fail to repay the loan, and you have the
flexibility to purchase a great home. Visit the Veterans Administration
website for the current table of VA Funding Fees and for information on
veterans who are exempt (pay zero) from funding fees.
Specifically, a VA home loan
can help veterans:
Buy a home or residential condominium
Build a home
Repair, alter or improve a home
Refinance an existing home loan
Buy a manufactured home with or
without a lot ( VA WILL
NOT REFINANCE MANUFACTURED HOMES, PURCHASES ONLY!!)
Buy and improve a manufactured home
lot
Install a solar heating or cooling
system or other weatherization improvements
Purchase and improve a home
simultaneously with energy efficient improvements
Refinance an existing VA loan to
reduce the interest rate
Refinance a manufactured home loan to
acquire a lot
*LET US SEE IF YOU QUALIFY!!!
If you would like to
refinance your mortgage.....click
here to apply online
secure
If you would like to purchase a
home.....click here to apply online
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