goodmortgage.com offers a wide range of VA home loan mortgages so you'll have access to the best rates and programs for your situation. We are licensed as a lender and a broker, so we can shop the market to find the product that's right for YOU.
VA mortgage loans can be made without any downpayment at all, and
frequently offer lower interest rates than other kinds of mortgage
loans. Aside from the veteran’s ‘certificate of eligibility’, and the VA
assigned appraisal, the application process is not much different than
other types of mortgage loans. If the VA mortgage lender is approved for
automatic processing, as more and more mortgage lenders are now today, a
buyer’s mortgage loan can be processed, and closed by the mortgage
lender without waiting for VA’s approval of the credit application. The
more you know about our VA mortgage loan programs, the more you will
realize how little “red tape” there really is in getting a VA home loan.
Apply for a Certificate of Eligibility.
A veteran who doesn’t have a certificate can obtain one easily by making application on VA Form 26-1880, Request for Determination of Eligibility, and Available Loan Guaranty Entitlement, to the local VA office.
VA Loans can be used for home purchases with no down payment, or for refinancing.
VA Cash Out Refinance
Any conventional mortgage that is being refinanced by a VA mortgage is
considered a Cash Out refinance. This even includes loans that aren’t
technically ‘taking cash out’. These loans will also fall under the rule for
95% loan to value of the VA appraisal.
There is a 3.3% funding fee on all VA Cashout mortgages. Borrowers who are ‘exempt’ will need to show proof of exemption.
Should I get pre-qualified before looking for a property?
You don't have to apply for a loan before looking for a property, but it's a great idea to get pre-approved before you start home shopping. When you get pre-approved, you know ahead of time how much house you can afford, what you can expect your monthly payment to be, and how much money you will need for the down payment and settlement costs at closing. And the best benefit is that Real Estate Agents and sellers will take your offer more seriously if you have been pre-approved.
Let one of our experienced, licensed, mortgage loan specialists help you today.
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