VA loans are insured by the Department of Veterans Affairs, and are provided as an affordable housing benefit to those who meet the service requirements.
Pay zero down on your new home. Loan limits in Los Angeles and Orange County are $726,525.
Take advantage of some of the lowest interest rates around.
The seller may pay the closing costs. If not, you can expect them to range between 1-3%. Be sure to also ask us about our OC Buyer Program during your consultation. We may be able to credit you those costs.
One of the biggest advantages of VA is that even though you are not making a down payment, you do not have to pay mortgage insurance. This will save you hundreds of dollars per month.
Veterans and service members who have become disabled during duty may have the funding fee waived.
You can pay off your VA loan early without a penalty.
The low risk profile of a VA-insured loan enhances your bargaining power.
You can qualify for a VA loan and all the amazing benefits which come with it even if you do not have a perfect credit score.
You may buy a home, construct one, improve a home or refinance with a VA loan.
How do you know if you are eligible to claim VA loan benefits?
First, you need to be serving or have served in any of the following capacities:
An active-duty military service member
A member of the Reserve or National Guard (activated only)
An eligible surviving spouse
Next, you must meet the requirement for your service term. Depending on whether you were active duty during wartime or peacetime, you must have served a minimum number of days in order to be eligible.
The exact amount of days is also contingent upon the era during which you performed your service.
To give you a general idea, the minimum required active duty wartime service during most eras is 90 days. The minimum required active duty peacetime service during most eras is 181 days.
During your consultation, we can look up the relevant requirement which applies to the time period during which you served.
What if this is not the first time you have used a VA loan? This will not stop you from taking out a new one. These benefits are yours to use time and again. They do not expire, and there are no restrictions on how many times you can claim them.
Additionally, if you’re concerned that a bankruptcy or foreclosure in your financial history could stand in your way, you will be relieved to know that these also will not prevent you from qualifying for a VA loan now.
Since 1944, millions of veterans have been able to purchase homes affordably using their VA loan benefits. If you are ready to call on your VA loan benefits, please give us a call today at (949) 202-5332. We can help you find out if you qualify, and can assist you with completing your application. You’ll be moving into your new home in Orange County before you know it.
Grand Avenue Realty & Lending is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age, because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. Disclaimer: Programs subject to change without notice. All borrowers must qualify per program guidelines.