If you are actively serving in the armed forces, or are a veteran who received a discharge classified as Honorable or Under Honorable Conditions and served a minimum of 90 days active duty, you may qualify! The "VA Guaranteed Home Loan" is a government backed program designed to make the dream of homeownership possible for eligible veterans.
VA Purchase Loans
Here are some important benefits:
- 100% financing available
- The seller can contribute the full amount of the borrower's closing cost, plus up to an additional 4% of the sales price
- The veteran can be stationed overseas and his or her spouse can still purchase a home locally
- In-service veterans can use quarters/housing allowance income to qualify and make the mortgage payments
- There are no prepayment penalties
Eligible veterans who have available home loan entitlement may use a VA Guaranteed Home Loan to purchase a single family residence, condominium, townhouse, co-op, or build a new home. VA loans can only be used on a primary residence. Since VITEK is a direct lender for VA loans, we can process your loan in-house which will get you into your new home faster.
VA Refinance Loans
Rate Reduction Refinance - A VA guaranteed loan made to refinance an existing VA guaranteed loan to a lower interest rate. There is minimal credit qualifying, including a 620 credit score or better and no late mortgage payments in the last twelve months. An appraisal is not required, which is especially helpful for homeowners who owe more than their home is worth. All closing costs can be financed into the loan, eliminating all out of pocket costs. A certificate of eligibility is not required.
Special note: No loan other than the existing VA loan may be paid from the proceeds of a rate reduction refinance. If you have a second mortgage, the holder must agree to subordinate that lien so that your new VA loan will be a first mortgage.
Cash-out Refinance (Often referred to as a "regular" refinance) - A VA guaranteed loan that refinances any type of existing loan, not just a VA loan. Veterans can receive cash out up to 90% of the appraised value of their home. VA regular refinances are for primary residences only.
CalVET Home Loan:
- 100% financing available
- No prepayment penalties
- Low interest rate
- Qualified first-time homebuyers receive an even lower rate
The CalVET home loan program has expanded eligibility, so that most honorably discharged veterans are now eligible. There are no restrictions based on your state of residency when you entered the service, but your home purchase or refinance must be made in the state of California.
Please contact me anytime for more details on any loan program or option on our website. With decades of experience and professional closings, I can guarantee my service, the best rates, and most accurate program to meet your needs. If you are or ever have been in law enforcement in California please contact me to discuss your home loan options today.
If you are actively serving in the armed forces, or are a veteran who received a discharge classified as Honorable or Under Honorable Conditions and served a minimum of 90 days active duty, you may qualify! The "VA Guaranteed Home Loan" is a government backed program designed to make the dream of homeownership possible for eligible veterans.
VA Purchase Loans
Here are some important benefits:
- 100% financing available
- The seller can contribute the full amount of the borrower's closing cost, plus up to an additional 4% of the sales price
- The veteran can be stationed overseas and his or her spouse can still purchase a home locally
- In-service veterans can use quarters/housing allowance income to qualify and make the mortgage payments
- There are no prepayment penalties
Eligible veterans who have available home loan entitlement may use a VA Guaranteed Home Loan to purchase a single family residence, condominium, townhouse, co-op, or build a new home. VA loans can only be used on a primary residence. Since VITEK is a direct lender for VA loans, we can process your loan in-house which will get you into your new home faster.
VA Refinance Loans
Rate Reduction Refinance - A VA guaranteed loan made to refinance an existing VA guaranteed loan to a lower interest rate. There is minimal credit qualifying, including a 620 credit score or better and no late mortgage payments in the last twelve months. An appraisal is not required, which is especially helpful for homeowners who owe more than their home is worth. All closing costs can be financed into the loan, eliminating all out of pocket costs. A certificate of eligibility is not required.
Special note: No loan other than the existing VA loan may be paid from the proceeds of a rate reduction refinance. If you have a second mortgage, the holder must agree to subordinate that lien so that your new VA loan will be a first mortgage.
Cash-out Refinance (Often referred to as a "regular" refinance) - A VA guaranteed loan that refinances any type of existing loan, not just a VA loan. Veterans can receive cash out up to 90% of the appraised value of their home. VA regular refinances are for primary residences only.
CalVET Home Loan:
- 100% financing available
- No prepayment penalties
- Low interest rate
- Qualified first-time homebuyers receive an even lower rate
The CalVET home loan program has expanded eligibility, so that most honorably discharged veterans are now eligible. There are no restrictions based on your state of residency when you entered the service, but your home purchase or refinance must be made in the state of California.
Please contact me anytime for more details on any loan program or option on our website. With decades of experience and professional closings, I can guarantee my service, the best rates, and most accurate program to meet your needs. If you are or ever have been in law enforcement in California please contact me to discuss your home loan options today.