VA Loans

A VA Loan is designed to offer long-term financing to veterans. VA mortgage loans are issued by federally qualified lenders such as First Priority Home Loans and are guaranteed by the U.S. Veterans Administration. The VA determines eligibility and issues a certificate to qualifying applicants to submit to their mortgage lender of choice. It is generally easier to qualify for this loan program than a conventional loans. We have been closing loans for a long time and are here to serve those who have served. We promise to make the process seamless and stress-free.

What are VA Loans
VA Loans began in the early 1940’s and it was designed to help service members purchase a home with zero down payment. The VA loan is offered to active duty, reservists, and to those who have served and meet the VA required time frames. VA loans are guaranteed by the Veterans Affairs and the loans are extended by banks and private lenders.

What Properties are Eligible for a VA Loans?

VA Loans are a great loan program offered to our military heroes which allows Veterans access to purchase the following properties with zero down payment at great rates;

Single family residences
Manufactured homes
Town homes
Multi-family 1-4 unit properties
Foreclosed or short sale properties
The importance of teaming up with the right professionals who have experience in working with Veterans, is a crucial decision. I have specialized in working with Veterans and their families all over California for the past 17+ years.

Too many times we’ve come across buyers who have been unsuccessful in obtaining an accepted offer in months or years. With our experience we’re not only able to provide great rates and service but, we also offer assistance in getting offers accepted. In addition, we work with a team of VA exclusive Realtors who are seasoned professionals that we’d be glad to refer.

Benefits of a VA home loan

1. Low-cost financing: VA loans often come with lower interest rates and no down payment requirements, which make them an attractive option for borrowers who may not have enough savings for a down payment.

2. No private mortgage insurance: Traditional mortgages require borrowers to pay a private mortgage insurance (PMI) fee, which can add an additional cost to the monthly payment. VA loans do not require PMI fees, which can save borrowers hundreds of dollars a month.

3. Flexible credit requirements: VA loans often have more flexible credit requirements than other loan types, making them easier to qualify for.

4. Sellers can contribute to closing costs: With VA loans, sellers can contribute up to 4% of the purchase price toward closing costs, which can help make the loan more affordable.

5. No prepayment penalties: VA loans do not have prepayment penalties, giving borrowers the flexibility to pay off the loan early without incurring additional fees.

Contact a VA loan specialist such as Andre Enriques Mortgage Banker – VA loan expert or a member of our First Priority Home Loans team. We are here to serve those who have served.