VA Home Loans – Roseville Mortgage Brokers and Lending | Attorneys Funding Group, Inc

VA Home Loans

VA LOANS

VA loans are guaranteed by the Veterans Administration, and provide veterans and/or their surviving spouses with a federally insured mortgage, as long as they meet some basic guidelines based on duration and type of military service. There are many benefits of borrowing with a VA loan. Perhaps the biggest and most popular advantage is that no down payment is required. Interest rates on VA loans are typically cheaper than conventional rates, though it does, of course, vary based on each unique borrower. There are no minimum credit score requirements, no required mortgage insurance, and no maximum loan amount, aside from the county loan limits. Dependent upon the veteran, a funding fee of 0% - 3.3% of the loan amount is a cost associated with the loan, but can be financed into the loan. VA loans can be either fixed or adjustable-rate mortgages, and an Interest Rate Reduction Refinance Loan (IRRRL) is a great hassle-free option for borrowers who are already participating in the VA loan program. An IRRRL may be done with "no money out of pocket" by including all costs into the new loan, or by covering those costs with lender credit based on the interest rate. No appraisal or credit underwriting is required, making the process quicker and easier than a conventional refinance.

VA Home Loans