E Mortgage Blog

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VA Loans

VA guaranteed loans are made by lenders and guaranteed by the U.S. Department of Veteran Affairs (VA) to eligible veterans for the purchase of a home. The guaranty means the lender is protected against loss if you fail to repay the loan. In most cases, no down payment is required on a VA guaranteed loan and the borrower usually receives a lower interest rate than is ordinarily available with other loans.

Other benefits of a VA loan include:

• Negotiable interest rate.
• Closing costs comparable – and sometimes lower - than other financing types.
• No private mortgage insurance requirement.
• Right to prepay loan without penalties
• Mortgage can be taken over (or “assumed”) by the buyer when a home is sold.
• Counseling and assistance available to veteran borrowers having financial difficulty or facing default on their loan.

Although mortgage insurance is not required, the VA charges a funding fee to issue a guarantee to a lender against borrower default on a mortgage. The fee may be paid in cash by the buyer or seller, or it may be financed in the loan amount.

A VA loan can be used to buy a home, build a home and even improve a home with energy-saving features such as solar or heating/cooling systems, water heaters, insulation, weather-stripping/ caulking, storm windows/doors or other energy efficient improvements approved by the lender and VA.

Veterans can apply for a VA loan with any mortgage lender that participates in the VA home loan program. A Certificate of Eligibility from the VA must be presented to the lender to qualify for the loan.

Call or Email us today about your new VA Loan!

VA Loans

VA guaranteed loans are made by lenders and guaranteed by the U.S. Department of Veteran Affairs (VA) to eligible veterans for the purchase of a home. The guaranty means the lender is protected against loss if you fail to repay the loan. In most cases, no down payment is required on a VA guaranteed loan and the borrower usually receives a lower interest rate than is ordinarily available with other loans.

Other benefits of a VA loan include:

• Negotiable interest rate.
• Closing costs comparable – and sometimes lower - than other financing types.
• No private mortgage insurance requirement.
• Right to prepay loan without penalties
• Mortgage can be taken over (or “assumed”) by the buyer when a home is sold.
• Counseling and assistance available to veteran borrowers having financial difficulty or facing default on their loan.

Although mortgage insurance is not required, the VA charges a funding fee to issue a guarantee to a lender against borrower default on a mortgage. The fee may be paid in cash by the buyer or seller, or it may be financed in the loan amount.

A VA loan can be used to buy a home, build a home and even improve a home with energy-saving features such as solar or heating/cooling systems, water heaters, insulation, weather-stripping/ caulking, storm windows/doors or other energy efficient improvements approved by the lender and VA.

Veterans can apply for a VA loan with any mortgage lender that participates in the VA home loan program. A Certificate of Eligibility from the VA must be presented to the lender to qualify for the loan.

Call or Email us today about your new VA Loan!

As you know, Bright Green Home Loans has long been known for excellent service and attention to detail. Just like you we have built our business on relationships. To make sure that customer needs are being met, representatives like myself are continually updated and trained on new products that can help you. We are committed to giving you the kind of service that you need and expect.

 We have just added new credit products to assist Jumbo buyers qualify for our mortgage products that you’ve been asking for.

We encourage you to look at your new and past leads for consumers that did not or could not qualify for a Jumbo loan.

 •The Jumbo Fixed product is now available.

Highlights of this product are as follows:

􀂾 15 and 30 year fixed amortization

􀂾 Single Family Owner Occupied only

􀂾 Purchase and Rate/Term Refinance up to 80% LTV, max loan amount $2 million with 680 credit score, $1 million with 640 credit score , to 2- 100MM 720 and up, 720 & up 90% ltv to 2 MM Possible for certian terms and conditions.

􀂾 Cash Out Refinance up to 80% LTV, max loan amount $1.5 million with 720 score

􀂾 Market upgrade of 5% LTV/CLTV applies with specific criteria

􀂾 Max DTI 45%

􀂾 Liquid reserve requirements apply depending on DTI and loan amount

􀂾 Great for Our SW Florida Market

I look forward to assisting you to sell more homes.

As always you can contact me with questions or to prequalify a client

Call me at 239- 580-9977 or 561-210-3000 anytime 7 days a week.