FHA Home Loans, FHA Refinance, VA Rate Reduction, Streamline Loans, First Time Homebuyers Tax Credit

VA Home Loan Programs

VA home loans are guaranteed by the U.S. Department of Veteran Affairs (VA) to eligible veterans who have a Certificate of Eligibility for purchasing a home, obtaining a VA Rate Reduction Refinance also known as a VA Streamline Loan or a Cash Out Refinance.

Benefits of VA loans include:

100% Financing
Competitive interest rates
Flexible underwriting guidelines
No Mortgage Insurance Premiums
4% Sellers Credit towards the Borrowers Closing Costs

VA Home Loan Guaranty Services also provides counseling and assistance to veteran borrowers having financial difficulties or facing default.

Even though a mortgage insurance premium is not required, borrowers are charged a small funding fee on VA loans, which guarantees the loan to the lender. The fee may be paid in cash by the buyer or seller, or it may be financed and included in the loan amount.

A VA mortgage can be used to buy a home, build or even improve a home with energy-efficient saving features such as solar or heating & cooling systems, water heaters, insulation and more.

VA No-No Purchase Loans - Purchasing a home with a VA loan allows you to finance up to 100% of the purchase price, does not require mortgage insurance, allows the seller to pay all of your closing costs, requires little to no money out of pocket, does not have a prepayment penalty and is typically easier to qualify for when compared to conventional loans.

By taking advantage of today’s low prices and interest rates, Veteran are purchasing more house for their money and building greater demand when selling their homes at a later date, as their low fixed interest rates are fully assumable and the buyer only assumes the remaining term of the loan.

VA Rate Reduction Refinance Known as VA Streamline Loans - The many benefits of refinancing an existing VA loan is simple and allows Active Duty, Veterans, Surviving Spouses and Members of the Military to refinance with No out of pocket costs, no income verification, no credit qualifying and no appraisal. In addition, Veterans may receive a refund and are allowed to defer up to 2 months mortgage payments.

Refinancing a Conventional Loan to a VA Loan - If you currently have a subprime loan or an Adjustable Rate Mortgage (ARM), you may eliminate your private mortgage insurance when refinancing to a low VA fixed 30 year loan with no out of pocket expenses!

Cash-Out Refinance - Need cash out? VA home loans are an excellent option when looking to take advantage of your equity. Based on the appraised value (or sales price, whichever is less when the property was purchased less than a year ago) a Veteran may refinance up to 90% of their homes value and take cash out up to $144,000 with no mortgage insurance!