Home Loans Arizona - California - Nevada - Utah

Veterans benefits in Surprise AZ extend way beyond the ability to receive disability payments or attend school for free to get a secondary education after discharge from the armed forces. Yet many veterans are not aware of the details defining their additional benefits, especially when it comes to the real estate for military members to purchase when they wish to join the homeowner ranks.

And, there are many ways for the personnel who have served in the armed forces to use their government-granted benefits that do not just fall into the home loan category. To start, individuals who belong to this group of home buyers will find that one main advantage they can enjoy is to obtain a veteran home loan with little or no money down.

Also, interest rates for veterans real estate loans are usually much lower than what the other folks who have not served their country are able to secure. Veteran mortgage loans are also not subjected to penalty fees if the borrower decides to attempt prepaying the loan, a condition that is not on the table for the non-combatants of the group.

In addition, the military home loan doesn't only have to be used for the purchase of a residence, as the acquired funds can also go towards making improvements within an existing home such as upgrading to energy efficient equipment or installing re-enforcers onto the property's foundation for better protection against the elements. Solar heating and solar cooling are other improvements that are commonly made when using a military home loan for reconstructive purposes.

VA Home Loans in Surprise Arizona Benefits:

• 0 Down Payment- VA Loans are among the last 0% down home loans available on the market today.
• No PMI- Since VA Loans are government backed, banks do not require you to buy Private Mortgage Insurance.
• Competitive Interest Rates- The VA guaranty gives lenders a greater degree of safety and flexibility, which typically means a more competitive rate than non-VA loans.
• Easier to Qualify- Because the loan is backed by the government, banks assume less risk and have less stringent qualification standards for VA Loans, making them easier to obtain.

VA Home loans in Surprise AZ, who does them?

Call Nathan Rufty at (623) 850-1210 to get qualified for a VA Home Loan in Surprise Arizona.

VA or Veterans Administration guaranteed home loan is the preferred loan program for active, non-active, Reserve, National Guard, and retired military of the armed forces because there is no down payment needed and no private monthly mortgage insurance required.  This is a great option for qualified borrowers looking to buy a home in Surprise AZ.

VA mortgage loans can be used towards purchasing a home, building a home, or refinancing an existing mortgage.

We will discuss what role the VA plays in a VA guaranteed mortgage, the benefits of a VA home loan, who is eligible for a VA loan, and the documentation you will need to present to your lender in order to apply for a VA loan in Surprise AZ.

Did you know that more than 27 million veterans and service personnel are eligible for VA financing, yet many aren’t aware it may be possible for them to buy homes again with VA financing using remaining or restored loan entitlement?

VA Does Not Offer Loans Directly and Does Not Guaranty You Will Qualify.

The VA does not actually lend the money to you directly. They offer a guaranty to a lender that if you should default on the loan, they will pay the lender a percentage of the loan balance.


Primary Benefits of a VA Mortgage:

• 100% financing
• No monthly private mortgage insurance is required
• There is a limitation on buyers’ closing costs
• The loan is assumable, subject to VA approval of the assumer’s credit
• 30 year fixed loan
• Seller can pay up to 4% of the veterans closing costs and even pay down they buyer’s debt to help lower their debt-to-income ratio
• Interest rates are similar to FHA rates
• You don’t need perfect credit

Who does the VA home loan program in Surprise AZ

Ready to get qualified for a VA Home loan in Surprise, Arizona? Call Nathan Rufty at 623-850-1210