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.
Raleigh Mortgage Group, Inc. currently represents a number of VA lenders. If you are a veteran or active duty service member and a resident of the state of North Carolina and are VA eligible, call Raleigh Mortgage Group at 919-866-0212 to maximize your VA home loan benefits.
Military Bases in North Carolina
· Pope Air Force Base – Fayetteville, NC
· Seymour Johnson Air Force Base – Goldsboro, NC
· Camp Lejeune Marine Base – Jacksonville, NC
· Cherry Point Air Station – Havelock, NC
· New River Air Station – Jacksonville, NC
· Cherry Point Naval Air Depot – Havelock, NC