VA Loans

A VA loan is a mortgage loan guaranteed by the U.S. Department of Veteran Affairs (VA) that is available to most US service members. It offers some very great benefits to those that have served our country.
 

Key Benefits

Buying a Home with a VA Loan

  • You can buy a home with no money down. VA Loan 2
  • You can qualify with a lower credit score (or even no credit score), less income and more debt compared to conventional loans.
  • You can include rehab cost (remodeling costs) into the loan.
  • You never have to pay PMI (Private Mortgage Insurance).
  • Sellers can pay your closing costs.

Refinancing a Home with a VA Loan

  • You can refinance your home up to 100% of the value of your home.
  • You can qualify with a lower credit score (or even no credit score), less income and more debt compared to conventional loans.
  • You can include rehab cost (remodeling costs) into the loan.
  • You never have to pay PMI (Private Mortgage Insurance).
  • If you already have a VA Loan you might be eligible for a VA Streamline Refinance.

Key Advantages of Getting a VA Loan from Premier Lending Group, Inc.

  • We allow credit scores down to 500, whereas most other lenders require credit score of 620 or higher.
  • We allow higher qualify ratios that may allow you to qualify for more.
  • You get a secure online application with less paperwork.
  • You will work directly with a loan expert, who will keep you up-to-date on the status of your application all the way through closing.
  • You can payoff your VA loan ahead of time with no penalties.

Who is eligible for a VA Loan?

As a rule of thumb, almost all active duty or honorably discharged service members are eligible for a VA loan.

You may be eligible for a VA loan if any one of these statements describes you:

  • I served 181 days during peacetime. (Active Duty)
  • I served 90 days during wartime. (Active Duty)
  • I served 6 years in the Reserves or National Guard.
  • I am the spouse of service member who was killed in the line of duty.
  • I currently receive disability payments from the VA.

What is the VA Funding Fee and is it required?

Yes, it is required if the Department of Veteran's Affair has exempted you from this fee.  It is a fee paid directly to the Department of Veteran's Affairs so that they can guarantee your loan and provide you with the opportunity to receive a loan with little to no money out of pocket.

How much is the VA Funding Fee?

It depends on several factors including: Whether you are active duty, retired, guard or reserve and whether you this is a first time use, subsequent use, as well as how much of a down payment you are putting down.  Please contact us and we will help you to determine how what the exact cost of the VA Funding Fee would be for your particular situation.

Do I have to pay the VA Funding Fee out of pocket?

No, you can include the VA Funding Fee in your loan and pay the funding fee over the course of your loan.

What is a VA Streamline Refinance?

A VA Streamline Refinance is a refinance option that is available if you already have a VA mortgage and you want to lower your interest rate with little or no out-of-pocket closing costs. You don't have provide bank statements, W2s, job verification or paychecks.

Check to see if you qualify for a VA Loan:

Get a Quick Quote!



 
 
 
 

These materials are not from HUD, VA, or FHA and were not approved by HUD or any other government agency.

Premier Lending Group, Inc.

401 E Sonterra Blvd, Ste 375
San Antonio, Texas 78258

Phone: 210-417-4548

NMLS: 294874

 

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