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23 May 10 California VA Loan Incentives

Military veterans in California are being offered unique lending incentives on VA mortgage loans. On Friday the VA Home Mortgage Loan Co. announced a new VA loan program with discounts for military veterans residing in California.  The VA mortgage incentives are in an effort to honor California military appreciation.  At that time, military personnel and veterans are being honored for their courageous service and contributions to the history of the California military.  The VA loan incentives should help military families save thousands of dollars with reduced closing costs for VA refinance and purchase mortgages.  The discounts will also be extended on the VA streamline refinance program.

Any California VA home loan closed by California military personnel and veterans during the military appreciation promotion will have underwriting and processing fees waived. This reduced cost VA loan offer should save borrowers at least $1,500. This VA mortgage promotion is only available to military personnel and veterans of the U.S. Armed Forces.  Underwriting and processing fees are standard lending costs for most refinance loan transactions, but for the next 30 days, California military families can save by not having to pay for these traditional closing costs.

VA Home Mortgage Loan Co.com wants to show his gratitude for the military and their service, particularly those in California.  According to California VA lender, “We have always had great VA borrowers in California,” Tom Howard said. “This offer should save California military families money and hopefully present a new opportunity to purchase a home or refinance during these difficult times.”  VA mortgage rates have been at record lows in 2010, but these incentives won’t last much longer.

In San Diego there are close to 50,000 active troops stationed on military bases.  California homeowners can take advantage of the offer by visiting VA Home Mortgage Loan Co. online.  “Our goal is to give a little back to the troops by providing them a new opportunity to purchase a house or refinance their existing mortgage into a more affordable home loan.”

21 May 10 VA Mortgage Program Ensures 100% Loans

VA Home Mortgage Loans Co. is pleased to announce the 100% loan, under the VA loan program.  For first time home buyers and military veterans, this is a good sign.  For VA homeowners who just need a lower interest rate, the VA streamline refinance automates the refinancing process and does not require an appraisal.  This means that borrowers who have a mortgage that is greater than their home value may still have an option if they are eligible for a VA mortgage.  100% VA loans are not as accessible as they were a few years ago.  Take advantage of the current VA mortgage rates and lock into a 30-year fixed rate loan that is available for 4.875% for qualified borrowers.

If you are a veteran or active member in today’s military and you’re interested in a cash out or a VA streamline refinance, this VA loan program may be worth looking into.  Cash out refinancing is available to 90% and rate and term VA refinancing is available to 100%.

VA home loans offer veterans many financial benefits:

  • No Down Payment Required –
  • VA Guidelines allow bad credit
  • No Private Mortgage Insurance
  • VA assistance to veteran borrowers in default due to temporary financial difficulty
  • Disabled Veterans have the VA funding fee waived

100% financing means you may qualify for zero down financing that enables you to save some money.

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13 Apr 10 VA Streamline Loans

Did You Lose the Equity in Your Home? Military veterans that have no equity left in their home may still qualify for low VA mortgage rates with the VA streamline program.  The VA streamline refinance is a rate and term refinance program that is only available for VA borrowers who do not want cash out but are looking for better interest rates or a fixed rate amortization.  In most cases the VA streamline does not require a full URAR appraisal, so Vets that lost the equity in their home can still qualify to refinance into a low rate mortgage.  Read the original article, VA Streamline Refinance, the Cure for No Equity Refinancing at the Nationwide Mortgage Blog online.

10 Nov 09 VA Streamline Mortgage Refinance

VA home mortgage loans have many benefits for military veterans.  VA streamline loans are a unique refinancing opportunity for borrowers that already have a VA loan. VA streamline refinance loans enable a borrower to refinance their loan quickly if they can reduce their interest rate and save money.  VA streamline mortgages do not allow cash back, debt consolidation or the combining of 1st and 2nd mortgage loans.  If you have a VA mortgage and the interest rate is above 5.5%, we recommend a VA streamline because VA mortgage interest rates start at 4.5%.  Take advantage of the VA home loan benefits and streamline your mortgage today. Learn more about the VA home loan process online today.

14 Sep 09 Military Avoids Private Mortgage Insurance with a VA Mortgage Financing

Getting a VA home loan could greatly save veterans money by avoiding PMI. VA mortgage rates are affordable and the biggest attraction for VA mortgages is the fact that you do not need to put any money down unlike conventional loans. With traditional conventional mortgages borrowers are required to pay PMI if they cannot put down at least 3%. With a VA loan, you will not only avoid the down payment but you will also avoid private mortgage insurance also known as PMI.

VA loans are getting more and more popular for Veterans in this struggling economy because Veterans can save money in multiple ways. As stated earlier, by getting a VA loan borrowers can avoid any down payment which will also help them avoid PMI. Read the complete article VA online.

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