VA Home Loans

VA Home Loans 

VA Loans are a popular VA Benefit of Military Service.   VA Loans require ZERO down payment up to your county VA Loan Limit, and require NO Monthly Mortgage Insurance.   VA Loans are also forgiving in regards to Credit Scores, Loans after Bankruptcy, Loans after Foreclosure and Loans after Short Sale.

VA Guaranteed Home Loans are made by private lenders.   The VA, ie the U.S. Department of Veteran Affairs guarantees VA loans for eligible  Veterans to purchase a Single Family Home, Condominium,  or 2-4 unit multi-family home.   The VA guaranty protects the Lender against loss if the Veteran fails to repay the loan due to hardship.   No down payment is required on most VA guaranteed home loans and the Veteran borrower usually receives a competitive interest rate compared with conventional loans.

Here are some of the benefits with VA loans for  Veterans:

  • 100% VA Purchase Loan up to $417,000 in  for 2015 – Nationwide
  • 100% VA Jumbo Purchase Loan up to $625,500 in  for 2015 in high cost areas  with no down payment
  • Zero down payment required – up to the  VA Loan Limit – $625,500 in certain High Cost Counties, $417,000 in most others
  • Closing costs are typically lower than conventional or FHA Loans
  • NO PMI, MIP, or Mortgage Insurance
  • No Prepayment Penalties
  • Competitive fixed interest rates
  • VA loans & VA Jumbo Loans can be used to purchase Condo’s, Single Family Homes, Townhomes,  Row Homes, PUD’s, &  2-4 Units

VA Loans After Financial Hardship:

  • VA Loans available in as little as 2 yrs after Bankruptcy Discharge
  • VA Loans available in as little as 2 yrs after Foreclosure
  • VA Loans available in as little as 2 yrs after Short Sale
  • We offer VA Loans available after a Short Sale with no waiting period (if all loan payments made on time prior to Sale, and loan was not a VA Loan)

VA Jumbo Loans

  • VA Jumbo Loans allow higher 100% financing for VA Loans – Up to $625,500 in certain  High Cost Counties
  • VA Jumbo Loans are also known as VA High Balance Loans, VA Super Conforming, and VA Super Jumbo Loans
  • You can exceed the county VA loan limits by contributing a down payment (usually smaller than what is required on conventional or FHA Loans)  (also a great option for VA Jumbo Refinances)
  • More VA Jumbo Loan info here.
  • VA Jumbo loans can be used to purchase Condo’s, Single Family Homes, Townhomes, PUD’s, &  2-4 Units
  • VA Jumbo Loans OK for Eligible VA Condo’s

VA IRRRL Streamline Refinance:

  •  VA IRRRL Streamlines – available to lower your interest rate without income verification
  • VA IRRRL Streamline Refinances are available for Non-Owner, Investment, or Rental Homes
  • Our VA Jumbo IRRRL Streamline Refinances can exceed your County VA Loan Limit.

Check out the California County VA Loan Limits

VA Loans do not require mortgage insurance; however the VA requires a funding fee to issue a guarantee to a private lender against future VA borrower default on a mortgage.     The VA Funding Fee can be Financed into the loan (typical) or paid in cash by the buyer or seller.   Veterans with a 10% or higher VA Disability Rating are EXEMPT from the VA Funding Fee – please ask to see if you qualify.

VA loans can be used to buy a Home, refinance your home, consolidate debts, or just lower your interest rate and payment.

VA Loans do require a Certificate of Eligibility from the VA.  which must be obtained to qualify for a VA loan.

 

Call us to get started, we can help you attain your VA Certificate of Eligibility and get Pre-approved for your VA Loan.   866-900-2342 Toll Free Direct or get started online here.