Home Loans California & Arizona

What is a VA Loan?

A VA loan is a $0 down payment mortgage option available to Veterans, Service Members, and select military spouses. VA home loans are issued by private lenders and guaranteed by the U.S. Department of Veterans Affairs (VA).

 

Today, the VA mortgage is more important than ever. In recent years, lenders nationwide have tightened their lending requirements in the wake of the housing market collapse, making the VA loan a lifeline for Veterans and active Military homebuyers, many of whom find difficulty when faced with tough credit standards and down payment requirements.

 

What are the Requirements for getting a VA Home Loan?

  • 580 minimum credit score.
  • Peoria, Arizona properties only on condos, single-family homes, and townhomes.
  • 60% maximum DTI.
  • VA Loan Limits
  • In most parts of the country, veterans who qualify for the VA Loan can purchase a home worth up to $484,350 without putting any money down.

 

VA Jumbo Loans

If you are purchasing or refinancing a home and your loan amount will be above $484,350 then a VA Jumbo Loan might be just what you need.

 

VA Home Loan Funding Fees

The funding fee is typically 2.3 percent of the purchase price of the home. For subsequent use of your VA Loan benefit, the fee is 3.6 percent. VA borrowers can roll the funding fee into their overall loan amount.

 

Benefits of a VA Home Loan in Peoria, Arizona:

  • Guaranteed by the U.S. Department of Veterans Affairs (VA)
  • Do not require a down payment on VA purchase loans
  • Do not require private mortgage insurance
  • Do not allow a prepayment penalty
  • 100% loan to value on VA refinance loan

 

VA Home Loan Eligibility in Peoria, Arizona

To get qualified for Veterans Purchase Home Loan Program please contact Nathan Rufty at (623) 850-1210.

Posted by Nathan Rufty on August 13th, 2020 6:07 AM

We believe it’s important to help veterans in Yuma, Arizona, military service members, and their surviving spouses realize the dream of home ownership, and we’re honored to assist you through the process of obtaining a VA mortgage or VA home loan.

 

Created before the close of World War II, the VA home loan benefit has helped millions of veterans, service members and military families achieve the dream of homeownership. Today, in many ways, it's more important than ever.

 

VA loan volume has soared in the wake of the Great Recession, driven in large part by historically low rates and increasingly tougher lending requirements. The VA program provides significant financial benefits that make home buying possible for score of veterans who might not otherwise qualify.

 

Whether you are looking for a home Yuma, Arizona, or in a location elsewhere within Arizona State, we can help you understand and explore your financing options and find the home loan that’s right for you.

 

VA Mortgage Benefits in Yuma, Arizona

Private lenders (mortgage companies and banks) are the ones who provide VA home loans. However, if eligible, you can get more favorable terms on VA mortgages than you might with conventional mortgages. Why? Because the United States Department of Veterans Affairs (VA) guarantees a portion of the loans.

 

  • No Down Payment
  • No Private Mortgage Insurance
  • Looser Credit Requirements
  • Forgiving DTI Ratios
  • Curbing Closing Costs
  • Foreclosure & Bankruptcy

 

First Steps to Obtaining a Arizona VA Mortgage

The first step to obtaining a VA mortgage in Arizona is to determine if you’re eligible to participate. As experienced mortgage brokers, our home mortgage professionals are knowledgeable about the VA’s requirements, and the factors that might affect your eligibility such as length of military service and your duty status.

 

Call Nathan Rufty at (623) 850-1210.

 

Posted by Nathan Rufty on August 6th, 2020 8:58 AM
VA loans, or Veterans Affairs mortgages in Kingman, Arizona, are designed for military veterans and active military members to get financing to buy a home. These loans can be easier to qualify for than conventional mortgages. VA loans do not always require a down payment and there’s no minimum credit score requirement. These loans are guaranteed by the Department of Veterans Affairs and do not require mortgage insurance.

This unique type of loan has specific qualification requirements and exceptional benefits for the men and women who qualify. With all the benefits set by the Department of Veterans Affairs, it is important to have expert guidance on the loan process.



VA LOAN VS CONVENTIONAL MORTGAGE
VA loans offer many benefits over conventional mortgages in regards to down payments, mortgage insurance requirements and qualifications. VA loans allow for no down payment mortgages verse conventional mortgage which may require up to a 20% down payment.

Mortgage insurance is not required for the program while PMI or mortgage insurance is required on conventional mortgages if a borrower does not have 20% equity. Lastly VA loans are backed by the government which adds security to banks and mortgage companies and makes qualifying for a VA loan much easier.

VA HOME LOAN ELIGIBILITY
A VA home loan is a mortgage strictly for veterans of war and those who still serve in the U.S. Military. Veterans must meet va loan requirements for service in active duty, reserves or National Guard.

Those who qualify can use their military benefits to purchase a home with no down payment and have flexible qualifying guidelines. The Veterans Administration guarantees the mortgage which allows lenders to offer low mortgage rates for VA loans. We offer 30 Year Fixed VA Loans and 15 Year Fixed VA Loans.

The first step to qualifying is to request a Certificate of Eligibility (COE) from the Veterans Administration. This certificate will confirm that you have served the required time in the military and are eligible for a VA Loan.

Could a VA loan be right for you? Let our loan experts help find out if a VA loan in Kingman, Arizona fits your unique needs. Call Nathan Rufty at (623) 850-1210.
Posted by Nathan Rufty on July 30th, 2020 6:03 AM

VA purchase home loan program in Wickenburg, Arizona, who does them

 

What is a VA loan in Wickenburg, Arizona?

A VA loan is a mortgage guaranteed by the U.S. Department of Veterans Affairs (VA) and issued by a private lender, such as a bank, credit union or mortgage company. A VA loan can make it easier to buy a home because it typically doesn't require a down payment.

 

Only qualified U.S. veterans, active-duty military personnel and some surviving spouses are eligible for VA loans. The GI Bill of Rights created the VA home loan program in 1944 to help veterans get a foothold in civilian life after World War II.

 

How does a VA loan work in Wickenburg, Arizona?

The VA’s guarantee means the government will repay the lender a portion of a VA loan if the borrower doesn't make payments. This assurance reduces the risk for lenders, which makes it possible for them to offer favorable terms and require no down payment.

 

If eligible, you can complete the VA mortgage application process through a lender of your choice. Many, but not all, lenders offer VA loans, and some lenders specialize in serving VA loan borrowers.

 

Who can get a VA home loan Wickenburg, Arizona?

 

You’re an active-duty military member or veteran who meets length-of-service requirements.

 

You're the surviving spouse of a service member who died while on active duty or from a service-connected disability and you have not remarried or remarried after age 57 or Dec. 16, 2003. Spouses of prisoners of war or service members missing in action are also eligible.

 

You meet the lender’s requirements for credit and income. The VA doesn't set a minimum credit score for VA loans, but lenders can set their own minimum standards. The lender will also consider your income and debts to evaluate your ability to repay the mortgage.

 

The property you want to buy meets safety standards and building codes and will be your primary residence.

To get started on your VA loan in Wickenburg, Arizona, call Nathan Rufty at (623) 850-1210

 

Posted by Nathan Rufty on July 22nd, 2020 3:43 PM
A VA purchase home loan program in Wittmann Arizona is a mortgage loan guaranteed by the United States Department of Veterans Affairs (VA). The program is for American veterans, military members currently serving in the U.S. military, reservists and select surviving spouses (provided they do not remarry) and can be used to purchase single-family homes, condominiums, multi-unit properties, manufactured homes and new construction. The VA does not originate loans, but sets the rules for who may qualify, issues minimum guidelines and requirements under which mortgages may be offered and financially guarantees loans that qualify under the program.

The basic intention of the VA home loan program is to supply home financing to eligible veterans and to help veterans purchase properties with no down payment. The loan may be issued by qualified lenders.

VA purchase home loan program in Wittmann Arizona Benefits:

  • No down payment on a VA loan
  • No mortgage insurance for VA loans
  • VA loans have a government guarantee
  • VA loans don’t allow a prepayment penalty
  • It’s easier to qualify for VA loans
  • VA loan closing costs are lower
  • The VA offers funding fee flexibility
  • VA loans are assumable

VA purchase home loan program in Wittmann Arizona Requirments:

  • Working electric, heating and cooling systems
  • Adequate roofing that will last the foreseeable future
  • Sufficient in size for basic living necessities
  • Clean, continuous water supply with sanitary facilities
  • Free of lead-based paint
  • Free of wood destroying insects, fungus and dry rot
  • Safe and sanitary sewage disposal
  • Accessible from an all-weather public or private street
  • Attics and crawl spaces must be accessible and properly vented

Get qualified for VA purchase home loan program in Wittmann, Arizona. Call Nathan Rufty at (623) 850-1210.
Posted by Nathan Rufty on July 15th, 2020 4:02 PM

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