California VA Veterans Home Mortgage
Loans
Apply for a California VA Home Loan
or call us at 888.694.0455 ext 85
The California VA home loan program is a
great program with many benefits.
If you have served or are currently serving
our country, a California VA home mortgage loan is
perfect way to make a purchase with no down payment.
-
No money down 100% financing available
for veterans.
-
No private mortgage insurance
(PMI) needed
- You do not have your income qualify
-
Nontraditional credit history
is considered
- You can make a prepayment of the loan without
penalty.
-
Seller may contribute up
to 6% toward the closing costs.
-
Veteran must have certificate
of eligibility from the Veterans Administration
Veterans Administration (VA) guaranteed
home loans are made by private lenders, such as banks,
savings & loans, or mortgage companies to eligible
veterans for the purchase of a home which must be for
their own personal occupancy. The guaranty means the
lender is protected against loss if you or a later owner
fail to repay the loan. The guaranty replaces the
protection the lender normally receives by requiring a
down payment allowing you to obtain favorable financing
terms.
There is no maximum to a Veterans
Administration guaranteed home loan but lenders will
generally limit VA loans to $417,000. This is because
lenders sell VA loans in the secondary market, which
currently places a $417,000 limit on the loans. For loans
up to $417,000, it is usually possible for qualified
veterans to obtain no down payment financing.
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Select a home and discuss the purchase with the
seller or selling agent. Sign a purchase contract
conditioned on approval of your VA home loan.
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Call us and present us with your Certificate of
Eligibility and complete a loan application.
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We will develop all credit and income information. We
will also request VA to assign a licensed appraiser
to determine the reasonable value for the property. A
Certificate of Reasonable Value will be issued. Note:
You may be required to pay for the credit report and
appraisal unless the seller agrees to pay.
-
We will let you know the decision on the loan. You
should be approved if the established value and your
credit and income are acceptable.
-
You (and spouse) attend the loan closing. We or
closing attorney will explain the loan terms and
requirements as well as where and how to make the
monthly payments. Sign the note, mortgage, and other
related papers.
-
The loan is sent to VA for guaranty. Your Certificate
of Eligibility is annotated to reflect the use of
entitlement and returned to you.
If this loan is right for you please give
us a call and we will go over all the options for
you.
In addition to the benefits found in
above, the Veterans also have some great refinancing
options.The Interest Rate Reduction Loan (IRRL) makes
refinancing your VA loan easy and affordable.
-
Get a lower interest rate
-
No appraisal required.
- No income or credit check to qualify
- Cash out is okay!
-
Don't need to pay up front
(closing cost can roll into the new loan)
As professionals in the mortgage lending industry, we've built
our reputation on providing outstanding service to our clients.
This means you can count on us to always look out for your best
interests, and to keep you informed throughout every step of the
lending process. Customer satisfaction is the cornerstone of our
business. We have cut out the middle man and the large corporate
overhead to bring you the best possible rates and lowest fees. Please
do not hesitate to call if you have questions about the information
you find here on our web site.
Apply for a California VA Home Loan
or call us at 888.694.0455 ext 85
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