Toggle SlidingBar Area
FacebookTwitterPinterest
All Family Lending & Real Estate Logo All Family Lending & Real Estate Retina Logo

Call Us at 559-584-6633

  • Home
  • Loans
    • Government Loans
      • FHA Loans
      • USDA Loans
      • VA Loans
    • Conventional Loans
      • Adjustable Rate Loans
      • Traditional Amortized Loans
    • Nonconventional Loans
      • CALHFA
      • Renovation Loan
      • Platinum
      • Bank Statement Loan
  • Company
    • Heart of the Matter
      • Why Choose AFL?
      • Meet The Team
      • Hanford Office
    • What Sets Us Apart
      • Signature E-Lending
      • Signature Fast Fund
      • Closing Coins
  • Video Series
  • Resources
    • Calculators
      • Refinance
      • How much can I save on my Taxes?
      • How Much Can I Qualify to borrow?
      • How Much Can I Afford?
      • Renting Vs Buying
    • Knowledge
      • Negotiating Price & Terms
      • Financing Options
      • House Price
      • Preparing Your Finances
    • Learn
      • What Is Fixed Interest Rate?
      • Libor VS Fed Fund
      • How Do Interest Rates work?
      • What is The Federal Reserve?
  • Blog
  • Property Search
  • Contact Us
  • Qualify Today!
VA Loans Trevor Weaver 2017-07-31T21:57:02+00:00

VA Loans

Benefits of VA Loans

  • You can buy a home with no money down.
  • You can refinance your home up to 100% of the value of your home.
  • You never have to pay PMI (Private Mortgage Insurance).
  • Sellers can pay your closing costs.
  • They are usually easier to get because the Government insures the loan so that there is much less risk to the lender.
  • If you already have a VA Loan you might be eligible for a VA Streamline Refinance.
  • Disabled Veterans may qualify for a waiver of the Funding Fee if they receive any disability payments from the VA or if they are considered to be at least 10% disabled.

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? Is It Required?

Yes, it is required. 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, or a cash-out refinance as well as how much of a down payment you are putting down. The fee can range from as little as 1.25% up to 3.3% of the loan. Generally, the more money you put down the lower the VA funding fee. 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.

Do I Still Need to Pay Normal Closing Costs?

Yes, however with a VA loan if you are purchasing a new home the seller can pay for all or part of your closing costs.

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.

Prequalify Today!

Conventional Loans

  • Refinance
  • Traditional Amortized Loans

Government Loans

  • FHA Loans
  • USDA Loans
  • VA Loans

Nonconventional Loans

  • CALHFA
  • Platinum
  • Renovation Loan

About Us

  • Why Choose AFL?
  • Meet The Team

Signature Offerings

  • Closing Coins
  • Signature Fast Fund
  • Signature E-Lending

Video Series

  • The Karma of Credit
Copyright 2012 - 2017 All Family Lending | All Rights Reserved | Powered and infused with awesomeness by Commando Marketing | Inmotion
FacebookTwitterPinterest