Home Loans California & Arizona

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

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