Mortgage Lenders In Virginia A VA loan is a mortgage loan offered to qualifying military personnel, servicemembers, veterans, and eligible surviving spouses by private lenders, and guaranteed by the U.S. Department of Veteran Affairs, in an effort to help qualifying individuals receive favorable terms on a home loan and become homeowners.
Through the VA Loan Guaranty Program, veterans and active military personnel were able to qualify for home loans through qualified lenders. The U.S. government backed up a certain portion of those loans, guaranteeing them and, essentially, vouching for those who took them out.
Veterans United Home Loans. They offer mortgages for both purchases and refinances of existing VA loans. They currently offer fixed rate mortgages with terms of 15 years, 30 years, and adjustable-rate VA mortgages. They also provide 24/7 customer service, which is unusual in the mortgage industry.
A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. While the VA does not lend money for VA loans, it backs loans made by private lenders (banks, savings and loans, or mortgage companies) to veterans, active military personnel, and military spouses who qualify.
The loan to value (LTV) ratio is 75%. If LTV > 80%, PMI will be added to your monthly mortgage payment, with the exception of military/va loans. military/va loans do not require PMI. Please remember that we don’t have all your information. Therefore, the rate and payment results you see from this calculator may not reflect your actual situation.
VA loans are a type of mortgage loan backed by the United States Department of Veterans Affairs, or the VA. Through the VA program, loans are issued via private banks and other lenders and guaranteed by the VA. This helps military service members and their families buy a home with no down payment and easier qualification requirements.
“Making loans that a borrower cannot afford to repay. I am threatened with lawsuits and arrest warrants.” -karen, Virginia Beach “I was trying to help my mother stay in her home. I needed a down.
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The VA also requires a down payment for a home or condo if the purchase price exceeds the reasonable value of the property, or if the loan has a graduated payment feature. With a VA guaranty, the lender is protected against loss up to the amount of the guaranty if the borrower fails to repay the loan.
The VA loan is a $0 down mortgage option available to Veterans, Service Members and select military spouses. VA loans are issued by private lenders, such as.