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VA
The federal government offers the VA home loan guaranty program to benefit veterans of the armed services, active-duty personnel, reservists, and their spouses. VA loans are among the best loans available. They allow for some of the most relaxed qualifying requirements of any loan. It is even possible to obtain a VA loan with little or now out-of-pocket cost. Each eligible veteran is granted a dollar amount of entitlement up to a maximum of $50,750. That entitlement can be used in place of a down payment on a home, which can result in a loan for 100% of the purchase price. The maximum amount of a VA-Guaranteed loan is $203,000, thus the VA provides a 25% assistance to a purchase. The guarantee is insurance against loss from default to private lenders such as mortgage bankers, savings and loans or banks. The loan may be for the purchase of a new home, up to a maximum loan of $203,000 with not less than 25% guarantee entitlement ($50,750). VA loans may also be obtained for refinance on an existing home, but the entitlement available for a refinance loan is reduced to $36,000 and the maximum Loan-to-Value may not exceed 90%.
To better serve you please contact me to request more specific information or to find out how to qualify. To send me an e-mail click here. Or you may call me at (562)896-9708.
