Annette Bui| Updated May 11, 2020 | Mortgage Programs 101
A VA mortgage is a specialty product provided for active military personnel or honorably discharged U.S. Veterans that also extend to surviving spouses for a deceased military member. Designed to aid in the financing operations that help Veterans and surviving family members for zero down payment.
The Annette’s team excels at helping consumers who have served our country qualify for a mortgage. This empowers veterans to obtain federal aid to secure their dream home through more lenient underwriting requirements, higher purchasing power due to lower interest and fees and more flexible payment plans.
Although VA mortgage products allow zero down payment, oftentimes there is a one-time funding fee that is charged based upon the loan size as well as the loan type.
VA mortgage products are more viable alternatives for home buyers because its flexible guidelines but if upfront costs are a concern, it is important to assess your circumstances and get the appropriate tailored plan to meet your needs. The upside of upfront costs is that if you do have the resources and choose to apply a down payment, the funding fee may be lowered accordingly.
*Keep in mind, however that a down payment may still be required if the veteran does not possess full VA Entitlement, or if the desire loan balance exceeds, he county limit that often changes year to year.
VA mortgage products are also subject to unique VA Entitlement restrictions and criteria in addition to other approval indicators from income to credit history. The Mortgage Shoppe by Annette is not affiliated with any government agencies or conduct financing in house, provide approvals or qualification in any capacity independently. The content and material provided are not from VA, HUD or FHA, and were not approved by VA, HUD or FHA, or any other government agency. This database is simply a resource guide to aid in your program informational purposes only.
Annette’s expert knowledge can aid with educating veterans during their home shopping journey. Custom design a plan to help locate how to obtain products with minimal to zero down payments and possibly no closing cost. Furthermore, products for veterans with existing VA loans may be eligible for streamline interest rate reduction refinance loans to reduce the interest with no income or appraisal verification.
Once you obtain your VA mortgage and finalize the purchase of your home, it may seem like you are on your own, but with the Annette’s Team, you will maintain ongoing guidance on mortgage knowledge, the advantages of refinancing down the line once you have built enough equity, your income changes or qualified to remove private mortgage insurance.
The process of acquiring and maintaining a home mortgage is a form of artistry, no one story is the same and thus each client deserves a custom tailor road map to ensure the best fit to meet their financial goals. The mortgage artistry is a simple road map to aid in your home ownership journey. Provided to empower you with the necessary tools and resources to perfect your home loan experience, proactively built your home equity to maximize its appreciation rate and design the best game plan for your financial future. Congratulations on completing the first step in your journey to mastering the artistry with Annette”.