Purchase Loans

A VA purchase loan will help purchase a home at a competitive interest rate often without requiring a down payment or private mortgage insurance.

 

VA Home Loan Purchase Advantages:

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No down payment as long as the sales price doesn't exceed the appraised value

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No private mortgage insurance premium requirement

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We can't charge you a penalty fee if you pay the loan off early

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VA may be able to provide you some assistance if you run into difficulty making payments

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VA rules limit the amount you can be charged for closing costs

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Closing costs may be paid by the seller

Cash Out Refinance Loans

These allow you to take cash out of your home equity to take care of concerns like paying off debt, funding school, or making home improvements.

The Cash Out Refinance loan can also be used to refinance a non-VA loan into a VA loan. VA will guarantee loans up to 100% of the value of your home.

 

Cash Out Refinance Loan Advantages:

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You can cash-out up to 100% of your appraised value. The VA funding fee, although higher on a cash-out refinance, can still be financed into the loan amount.

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There is no add-on to the rate. So you can still take advantage of the low rate VA mortgages offer

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Use the money to pay down debts, paying college costs, home improvement, replenishing savings, etc..

Interest Rate Reduction Refinance Loan (IRRRL)

Also called the Streamline, the Refinance loan can help you obtain a lower interest rate by refinancing your existing VA loan. 

The VA IRRRL lowers your interest rate by refinancing your existing VA home loan. By obtaining a lower interest rate, your montly mortgage payment should decrease. You can also refinance an adjustable rate mortgage (ARM) into a fixed rate mortgage. 

 

IRRRL Facts:

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No appraisal or credit underwriting package is required when applying for an IRRRL

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When refinancing from an existing VA ARM Loan to a Fixed Rate Loan, the interest rate may increase

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Lorem ipsum dolor sit amet, consectetur adipiscing elit. Vestibulum ac diam sit amet quam vehicula elementum sed sit amet dui. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Sed porttitor lectus nibh. Curabitur arcu erat, accumsan id imperdiet et, porttitor at sem. Vestibulum ac diam sit amet quam vehicula elementum sed sit amet dui.

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Vestibulum ac diam sit amet quam vehicula elementum sed sit amet dui. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Sed porttitor lectus nibh. Curabitur arcu erat, accumsan id imperdiet et, porttitor at sem. Vestibulum ac diam sit amet quam vehicula elementum sed sit amet dui.

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Vestibulum ac diam sit amet quam vehicula elementum sed sit amet dui. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Sed porttitor lectus nibh. Curabitur arcu erat, accumsan id imperdiet et, porttitor at sem. Vestibulum ac diam sit amet quam vehicula elementum sed sit amet dui.

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An IRRRL may be done with "no money out of pocket" by including all costs in the new loan or by making the new loan at an interest rate high enough to enable the lender to pay the costs

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You may NOT receive any cash from the loan proceeds

Call today to learn more about VA loans

(703) 459-9895