VA HOME LOAN PROGRAMS
VA LOAN PROGRAMS: The VA offers a variety of VA New Home Purchase and VA Refinance programs and loan type options for it's Veterans and eligible Service Members.
The VA offers various low interest cost monitored new home purchase and many VA refinance options for it's Veterans and Military Service Members. A knowledgeable VA Loan Specialists can help you determine what option is best for you. Below are just a couple of the VA Home Loan options offered by the VA.
HOW CAN WE HELP YOU? GET A NO OBLIGATION VA LOAN QUOTE FOR THE PROGRAM YOU NEED |
||
|---|---|---|
 |
VA NEW HOME PURCHASE FINANCING (UP TO 100% FINANCING) |
|
|
VA FIRST TIME HOMEBUYERS (100% FINANCING - $8000 TAX CREDIT) |
|
|
VA STREAMLINE REFINANCE (SIMPLE RATE REDUCTION) |
|
|
VA CASH OUT REFINANCE (UP TO 100% EQUITY CASH OUT) |
|
|
VA DEBT CONSOLIDATION REFINANCE (UP TO 100% EQUITY C/O)
|
|
VA Fixed Rate Mortgage Program: The VA offers a 30, 25, 20 or 15 year fixed rate mortgage that is available for both VA New Home Purchase or VA Refinances.
VA Hybrid ARM (Adjustable Rate Mortgage: The VA Hybrid ARM is an extremely popular loan program and is available for both VA New Home Purchase or VA Refinances. The VA Hybrid ARM product provides for an initial fixed interest rate for a period of three or five years, and then adjusts annually after the initial fixed period.
The VA offers a 3/1 (3 year fixed and adjusts 1% each year) and 5/1 (5 year fixed and adjusts 1% each year) Hybrid ARM Loan. The 3/1 and 5/1 VA Hybrid ARM products allow a 1% annual interest rate adjustment after the initial fixed interest rate period, and a 5% interest rate cap over the life of the loan.
Interest rate adjustments must occur on an annual basis, except for the first adjustment which may occur no sooner than 36 months from the date of the borrower's first mortgage payment on the 3/1 ARM or 60 months from the date of the borrower's first payment on the 5/1 ARM. The loan term for both of these loans is 30 years..
The VA Hybrid ARM has a life cap of 5% (Initial Note rate plus 5%) which means your rate can never go higher than the cap rate. The Margins and Indexes these loans are tied to is the 1-Year Constant Maturity Index and the VA ARM loans have either a 2.00% margin or a 2.25% margin.
The Adjustable Cap is One percent (1%) annually after the initial fixed rate period of 3 or 5 years for both the 3/1 and 5/1 VA Hybrid ARM loan programs
Follow the links to get more information on the following VA Loan Programs:
When applying for a VA Loan, working with a the right VA Approved Lender who are VA Loan experts and who specializes in originating VA Loans may mean the difference between getting approved or not because of the complexities and specific VA approval guidelines required by the Veterans Administration.
This site has researched and developed relationships with professional high quality VA approved lenders nationwide in an effort to help our valued visitors obtain a VA Loan Quote from a VA Home Loan Expert. To get your VA Loan Quote CLICK HERE
