VA Loans
Helping Veterans Buying a Home
VA helps Service-members, Veterans, and eligible spouses become homeowners with VA Loans. As part of our mission to serve you, we proudly offer VA Mortgages. The VA provides a home loan guarantee benefit and other housing-related programs to help you buy, build, repair, retain, or adapt a home for your own personal occupancy. If you currently have a Mortgage, you can also take advantage of a VA Refinance. The VA Loan’s popularity is attributed to the money-saving benefits, such as no required down payment, no private mortgage insurance and requirements that are less-stringent than those of conventional mortgage options. These benefits, along with many others, make VA Loans one of the most powerful mortgage programs available today.
VA Refinacing
The VA streamline refinance program is also known as the VA IRRRL, which stands for Interest Rate Reduction Refinancing Loan. It’s exclusively for those with VA home loans. Those interested in reducing their mortgage rate should consider the VA Streamline refinancing, otherwise known as an IRRRL (interest rate reduction refinance loan). With the VA Streamline, homeowners have the opportunity to lower their interest rate which may result in big savings every month. If you are considering taking cash out of your home’s equity, you should consider the VA Cash-Out refinance. With the Cash-Out refinance, homeowners can use the equity in their home to help pay other obligations. You are free to use the money as you wish. Additionally, homeowners wanting to refinance from a different loan program into the VA Loan can do this through the Cash-Out refinance program.
US Mortgage Corporation Proprietary Products
With your military service, the dream of homeownership can be a reality with the simplicity and ease of true VA. Up to 100% Financing Available.
Commitment to closing your loan on time, Every time! With our in-house Operations and our cutting edge technology we are able to guarantee your Mortgage will close on time.
Get Pre-Approved. Shop with Confidence for a Home. Make Offer. Buy Your Home. Let Sellers know that you have already secured solid financing and can close on-time.
VA FIXED RATE
- Fixed rate periods range from 10 to 30 years
- VA mortgages can accommodate nodown payment on many bpurchase transactions
VA ADJUSTABLE RATE
- VA offers a 3 and 5-years initial fixed rate period
- Interest rate is set at the time of closing and remains constant over and over the initial fixed-rate period
- Once the fixed-rate period expiers, the interest rate can increase or decrease on an annual basis
VA INTEREST RATE REDUCTION REFINANCE
- A VA IRRRL replaces your exsiting VA guaranteed loan
- It's easy, often time no appraisal, and minimal paperwork is required in this streamlined refinance
- Both fixed and adjustable-rate terms are available
1.
Get Pre-Approved
This is the time to get in the know. A pre-approval will give you an advantage when you find your perfect home. We can tell you what you need to get pre-approved, so you know the exact loan amount you qualify for, what your monthly payment will look like, and how much taxes and insurance will be. With a pre-approval, the loan process will be smoother and your offer will be stronger.
2.
Loan Application
Your application will provide a complete picture to loan investors of your assets, debts and what you are buying. It will take into account documents such as pay stubs, proof of income, tax returns, employment history, and information on all debts, assets, and sources for down payments. Don’t worry, we will request these documents as applicable for your loan application so that you can be fully prepared.
3.
Select Your Loan Program
Fixed rate? Adjustable? FHA? There are multiple loan options that may fit your unique needs, and we can help you choose. Are you looking for the consistent rates and payments that a fixed rate loan can provide? Do you want the short-term benefits of lower rates that an adjustable rate loan can bring? Our extensive portfolio of loan options means you have more options available to get just what you need.
4.
Processing and Underwriting
Your loan has specific investor guidelines that must be met, and an underwriter will review your documents to be sure that you meet them. While an underwriter reviews your file, an appraisal will be ordered on the home. Additional information may be requested, so don’t panic if you have to turn in more documents. That’s just the underwriter working hard to get your final approval.
5.
Loan Approval
Before your loan is approved, you will receive pre-approval and a list of closing conditions that need to be met. These conditions can include verification that your employer is current and proof that homeowner’s insurance has been obtained. Once closing conditions have been satisfied, the underwriter issues a clear to close. Congratulations, your loan has been approved!
6.
Close the Loan
With an approved loan, you are on the home-stretch towards closing. The lender will send closing documents to a title company that draws up paperwork and arranges for signing of documents. Once the documents have been signed and funding conditions have been met, the title is recorded and the process is complete. You are a proud owner of your new home, and the keys are yours!
