Mortgages Made Simple!

Veteran Home Loans

Did you know that eligible veterans can buy a home with as little as zero money down?

If you are actively serving in the armed forces, or are a veteran who received a discharge classified as Honorable or Under Honorable Conditions and served a minimum of 90 days active duty, you may qualify! The "VA Guaranteed Home Loan" is a government backed program designed to make the dream of homeownership possible for eligible veterans.

VA Purchase Loans

Here are some important benefits:

• 100% financing available
• The seller can contribute the full amount of the borrower's closing cost, plus up to an additional 4% of the sales price
• The veteran can be stationed overseas and his or her spouse can still purchase a home locally
• In-service veterans can use quarters/housing allowance income to qualify and make the mortgage payments
• There are no prepayment penalties

VA Refinance Loans

Rate Reduction Refinance – A VA guaranteed loan made to refinance an existing VA guaranteed loan to a lower interest rate. There is minimal credit qualifying, including a 620 credit score or better and no late mortgage payments in the last twelve months. An appraisal is not required, which is especially helpful for homeowners who owe more than their home is worth.  A certificate of eligibility is not required.

Special note: No loan other than the existing VA loan may be paid from the proceeds of a rate reduction refinance. If you have a second mortgage, the holder must agree to subordinate that lien so that your new VA loan will be a first mortgage.

Cash-out Refinance (Often referred to as a "regular" refinance) – A VA guaranteed loan that refinances any type of existing loan, not just a VA loan. Veterans can receive cash out up to 90% of the appraised value of their home. VA regular refinances are for primary residences only.