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VA guarantees part of your loan— which helps you get
a VA loan featuring:
- No down payment (unless required by the lender or the
purchase price exceeds the reasonable value as determined
by VA; and
- Competitive interest rate and flexibility of negotiating
interest rates with the lender
- Assurance that you can pay off all or part of the loan
in advance without penalty
VA appraises the house to determine its reasonable value in
the housing market at the time the appraisal is made.
VA requires compliance inspections in most cases on proposed
new construction to see that the house:
- Meets accepted standards of good construction
- Conforms to the plan and specifications on which VA’s
appraisal is based.
VA will try to assist you in getting your builder to correct
any defects about which you may have
valid complaints.
*VA Pamphlet 26-6, Page 1, Revised July 1994, Veterans Benefits
Administration
Now that you have decided to purchase a home, we need to
get you enrolled in a VA mortgage program.
As a veteran you may be entitled to 0% down under the VA
guarantee. In order to find out just what your personal benefits
are from VA we need to obtain a VA Certificate of Eligibility.
The VA will determine based on your military history, what
benefit you are entitled to. The VA will then issue a Certificate
of Eligibility. This form will tell you and us how much of
a mortgage you can get with VA 0% down Guarantee! We can obtain
your certificate for you, so please contact our VA lending
Department at 1-866-562-6318.
Available terms for VA Financing:
- 30 year fixed rate
- 15 year fixed rate
- 3/1 ARM fixed for first 3 years
Estimated up front charges:
- Application for VA loan $195.00 (refundable upon closing)Includes
VA loan application
- VA certificate of eligibility (if needed)
- Credit check
- Pre-approval
- Mortgage processing
- Closing coordination
- VA Appraisal $375 single family (higher for multi family
homes)
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