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 loans are sold into GNMA (Government National Mortgage Association) pools for securitization and sold 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