Veteran Assistance Loans
Honoring those who served. Our Veteran Assistance Loans provide VA-backed options with exclusive benefits for veterans.
Key Features of a VA Loan Include:
No Down Payment
With a VA loan, eligible veterans can purchase a home without making a down payment. This means that the veteran can finance the entire purchase price of the home, up to the VA loan limit, without having to come up with a large sum of money upfront.
Competitive Rates
VA loans are backed by the U.S. Department of Veterans Affairs, which means that the government guarantees a portion of the loan to the lender. This guarantee reduces the lender's risk, which can result in lower interest rates for veterans.
No Private Mortgage Insurance
VA loans can be produced without private mortgage insurance (PMI) because the VA guarantees a portion of the loan to the lender, which reduces the lender's risk.
Who qualifies for a VA Loan?
To qualify for a VA loan, you or your spouse must meet the minimum service requirements set by the Department of Veterans Affairs (VA), have a valid Certificate of Eligibility (COE), and satisfy the lender's credit and income requirements.
The minimum service requirements include:
At least 90 days of active duty service during wartime
At least 181 days of active duty service during peacetime
At least 6 years of service in the National Guard or Reserves
Surviving spouse of a service member who died in the line of duty or as a result of a service-related disability
Let’s talk about your VA Loan Options
becky.nexalo@gmail.com
Call or Text: 505-235-9810
Looking for other loan options?
FHA Home Loans
Transition smoothly into owning a home with the FHA mortgage, a federal loan program tailored for first-time buyers. With only 3.5% down and flexible credit score requirements, it simplifies the path to your dream home.
HELOC Loans
Tap into your home's equity with a Home Equity Line of Credit, a flexible and revolving financial solution. Borrow as needed for any purpose, such as property investments or tuition fees, up to a set limit. With a HELOC, you'll face variable interest rates and pay interest only on the amount you utilize, offering a tailored approach to managing large expenses.
Conventional Loans
Navigate the path to buying a home with a conventional loan, offering the perk of no upfront mortgage insurance for those with strong credit and financials. With flexible terms and competitive rates, it's an appealing option for first-time buyers capable of a modest down payment.
Jumbo Loans
Targeted at financing high-end properties beyond regular Conventional loan limits, jumbo loans start at values around $750,000. As non-conforming mortgages, they pose more risk to lenders, necessitating higher credit scores and robust financials from borrowers. Down payments are never less than 10.1%, allowing buyers to access higher loan amounts, avoid PMI with a 20% down payment, and choose between adjustable or fixed rates.
Reverse Mortgage
Tap into your home's equity with a reverse mortgage, where homeowners 62 and older receive payments from the lender instead of paying them, providing a source of tax-free income with no monthly repayments. This arrangement allows seniors to stay in their homes and use the funds as they wish, offering a comfortable and secure retirement option.
DSCR Loans
Focused on the income potential of properties, DSCR loans offer real estate investors a path to expand their portfolios without traditional income documentation. These loans assess the property's ability to generate sufficient rental income to offset the loan cost through the Debt Service Coverage Ratio. Investors are expected to have a good credit score and provide a down payment of 15% or more but can take advantage of the no income verification feature for quicker, more flexible funding solutions.
Feel Informed and Confident In Your Mortgage Decision
Get the information you need to feel happy with your mortgage choices. Find details about loan programs, qualifications, documents, strategies and more on our Mortgage Broker Blog.
