News and Updates
VA Loan Benefits
A lot of people are under the assumption that VA loans are very difficult to process and close. This could not be further from the truth. Not only do VA loans have very clean and easy to follow guidelines, they also come with better interest rates than any other loan program out there. If anyone complains about a VA loan and it's process or tells you it's not a good program to use, they are simply just not aware of how they really work and the great benefits that come with them.
Just a few of the great benefits our Veterans can enjoy are:
- More than one VA loan is allowed. As long as the home to be purchased now will be the primary home for the Veteran and their family more than one VA loan is allowed.
- Widowed spouses of deceased Veterans can use their spouses eligibility to obtain a VA loan of their own if they have not re-married
- Waiting periods following Bankruptcy, Short Sales or Foreclosures are shorter with VA loans than other lending programs. Also, exceptions can be made with compensating factors to allow even shorter waiting periods
- Veterans are allowed to do much higher loan amounts and can go up to 1 million. VA Jumbo loans have the same excellent rates that exist on the standard conforming VA loan amounts
- In addition to there being no limits on closing costs from the Seller, VA loans allow for an ADDITIONAL 4% in sales concessions from the Seller. This additional 4% can be used towards new appliances and other personal property items.
- VA loans do not require additional time to close. The process to underwrite and close a VA loan is the same as all other loan programs, 30 days or less.
- There is not a separate 'VA Inspection'. I hear this a lot and it's one of the biggest myths out there. When the appraisal is ordered the VA assigns a local appraiser to value the home. That appraiser is trained to not only value the property, but also to confirm that the VA's property guidelines are met, that's all. No special separate inspection.
If you're looking into a VA loan and hear any negative feedback on the program at all, then you're not working with a mortgage professional that's familiar with the program. For in-depth and accurate information about VA loans and the loan process in general, please just contact me directly and I'd be happy to help!
Contact Wendy 7 days a week for more information:
Phone or Text: 321-504-1175
Facebook Messenger: https://www.facebook.com/aloaninthesun
Why You Should Call Us First
- Detailed loan status updates save you the time and hassle of trying to find out what's going on with your loan file.
- Quick and efficient problem resolution system. Our workflow is designed not only for speed and efficiency but to also catch any potential problems. We don't bury our heads in the sand in the 11th hour.., we work diligently to identify any potential problems up front and work directly with you to resolve them.
- Experienced processing staff pre-underwrites loan files before submission to our investors. Detailed review ensures that the majority of our loan files are put into final approval status at the first submission.
- We're local and accessible when you need us. When you're working, we're working even if it's after hours or the weekend.
Return to Sunshine Home Loans E-News List >