VA Loan:

Designed to offer long-term financing to American veterans, VA mortgage loans are issued by federally qualified lenders and are guaranteed by the U.S. Veterans Administration.

The VA determines eligibility and issues a certificate as proof to qualifying applicants. This certificate is required to be submitted to the mortgage lender of choice.

VA loan are sold into a GNMA (Government National Mortgage Association) pools for securitization and sale to the investing community.

It is generally easier to qualify for a VA loan than conventional loans.

Here's how it works:

• 100% financing without private mortgage insurance or 20% second mortgage.
• A VA funding fee of 0 to 3.3% (this fee may be financed) of the loan amount is paid to the VA.
• When purchasing a home, veterans may borrow up to 100% of the sales price or reasonable value of the home, whichever is less.
• When refinancing a home, veterans may borrow up to 90% of reasonable value in order to refinance where state law allows.

Raleigh Mortgage Group, Inc. currently represents a number of VA lenders. We are prepared to discuss rates and fees when you are ready. Give us a call or enter your information here.

 

Click Here for :  Mini Purchase Applcation

Click Here for: Mini Refinance Application

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