VA Mortgage guaranteed loans are made and funded by Network Funding, LP 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, minimal down payment ( earnest Money) is required on a VA guaranteed loan and the borrower usually receives a interest rate than is ordinarily available with other loans.
Did you know that a very small percentage of Veterans ever take advantage of using their eligibility to buy or refinance a home?
Here are some great benefits of a VA home loan:
VA Home Loans are available
Although monthly mortgage insurance is not required, the VA charges a funding fee (2.15 to 3.33%) to issue a guarantee to a lender against borrower default on a mortgage. The fee may be paid in cash by the buyer at the time of closing.The funding fee is determined based on your eligibility as a Regular military officer or if you are/were in the reserves.
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.
To find out with the maximum loan amount your can have for a govermnent loan in your county - Click here
Veterans can apply for a VA loan with any mortgage lender that participates in the VA home loan program, however,
Network Funding, LP Mortgage Bank is your expert VA Lender. Call Mr. Knap at 800.772.1193 or 404.814.4634 extension 706 for more information
Most asked Questions in regards to VA Financing
Q: How long does it take to close on a VA Home loan?
A: Depending when all the documents are received to our office, the normal closing time is 30 days.
Q: What do I need to prove that I am eligible for a VA Loan?
A: You must have been honorably discharged from the military and must be able to produce your DD214 and your “Certificate Of Eligibility” forms.
Q: I am buying a home but I need to know how much a seller can pay of my closing costs.
A: 3 to 6% of the sales price.
Q: Can you finance Mobile Homes under the VA Mortgage?
A: We can’t but their may be other lenders who can.
Q: What is the Maximum Loan amount that we can get if we qualified in my state?
A: Choose your State and County
Have more questions? – Click here for more answers
Get Today’s VA Mortgage Rates - Click here
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