VA LOANS

The VA mortgage loans are a safe and effective way to buy a home. Active duty personnel now qualify, and disabled veterans can get additional benefits. There is no limit to how many times a veteran can use the VA Home Mortgage Program.

Unlocking Possibilities: VA Mortgage Loans for All Heroes - Army, Navy, Air Force, Marines, Reservists, and National Guardsmen!

In 2024, the VA loan limit for a single-family home is $766,550 in most areas, and $1,149,825 in high-cost areas. This loan requires no money down and offers increased eligibility and benefits for Veterans and active duty personnel, as well as Disabled Veterans.

Benefits of the VA Mortgage Loan Program:

• The VA Mortgage Loans are guaranteed, which means you don't have to pay any money upfront. The guaranteed amount can go up to $766,550.

• You don't have to pay for monthly mortgage insurance.

• People can take over the responsibility for many VA Mortgage Loans.

• Getting approved for a VA Loan is simpler compared to a conventional loan.

• You have the option to refinance your VA Mortgage Loans.

Get up to $766,550 with zero upfront payment

You can qualify for a VA Home Mortgage Loan of up to $766,550 without having to pay any money upfront. If the seller agrees to cover the closing costs, you may be able to buy the home without any out-of-pocket expenses. The loan and sales contract can be arranged in a way that the VA Home Mortgage Loan covers 100% of the selling price while the seller takes care of the closing costs.

VA Funding Fee

The Veterans Administration charges a Funding Fee for VA loans, ranging from 0.5% to 3%. With an FHA mortgage, customers need to contribute at least 3.5% of the loan amount. The Funding Fee is included in the total loan amount and is paid over the duration of your VA home mortgage loan. The VA Funding Fee takes the place of the more expensive Mortgage Insurance required for conventional home loans. If you are a Disabled Veteran, you may be eligible for a complete waiver of the fee.

VA Mortgage Loans that Can Be Assumed

VA loans can be assumed by other people. If the person taking over the loan is a veteran with VA eligibility, the original veteran won't lose their own eligibility that they used to get the loan initially. Veterans should be careful and thoroughly check the terms of an assumption before allowing someone to take over their mortgage. It's a valuable benefit that they shouldn't give up easily.

Getting Approved for a VA Mortgage Loan

The VA has great eligibility requirements. Unlike other loans, the VA doesn't consider your credit score when approving your loan. Even if you've had financial problems in the past and your score is low, but you've been paying your bills on time recently, you could still qualify for a VA mortgage loan. This can save you a lot of money compared to conventional loans, especially if your credit score is low.

Refinancing VA Mortgage Loans is possible.

VA mortgage loans have special features that allow borrowers to refinance their loans and get a lower interest rate without going through the usual process required for conventional loans. This type of refinance is called an Interest Rate Reduction Loan. Veterans can take advantage of this opportunity without having to undergo credit checks, property appraisals, or income and asset verification. Additionally, they can include the transaction costs in the loan, eliminating the need for any out-of-pocket expenses.

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Equal Housing Opportunity

West Capital Lending 2024

NMLS #: 1231230, 1473858

DRE #: 02022356, 01475320

States Licensed In: CA, FL, MI, AZ, CO, TN, Etc.

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