VA LOANS

Army Boots

VETERANS AFFAIRS LOAN 

If you are serving the military, a veteran or an eligible family member of a military veteran, you may qualify for a Veterans Affairs loan, and one of Movement Mortgages biggest perks – waived lender’s fees*. The VA Mortgage is a government-based product offering 100% financing of the reasonable value of the property and less restrictive qualifying terms than conventional programs.

VA LOAN SPECIFICATIONS

(1-4 unit, purchase, primary residence only)

30-year Minimum FICO

580 minimum FICO and maximum loan amount of $510,400; or
580 minimum FICO and maximum loan amount of $1,500,000

15-year Minimum FICO

580 minimum FICO and maximum loan amount of $1,500,000

Note: For loan amounts greater than $510,400 the maximum loan amount will include a funding fee, which is financed, and applies to both 15 and 30 year fixed loans.

HOUSING GRANTS FOR SERVICE-RELATED DISABILITIES

Those eligible for an adapted housing grant through Veterans Affairs can get help with a service-connected disability purchase. This could include building an adapted home or adapt an existing home to support the disability.

If you are a military veteran looking to buy or refinance a VA loan, or want to learn more about VA homeownership benefits, please call me with any questions.

Disclaimers:

  • Excludes other VA-permissible itemized charges. VA loans require a VA Funding Fee that may be financed into the loan or paid out of pocket at closing.

In addition to the eligibility criteria outlined in the presentation that all eligible Veterans and Reservists must meet all VA income, asset, and property requirements, for loan amounts exceeding $510,400, The amount of the VA entitlement, or the entitlement plus the down payment,  must equal 25% of the property’s reasonable value.

VA PURCHASE LOAN BENEFITS

  • If qualified, there is 100% financing without the typical required mortgage insurance. This could mean hundreds of dollars in savings each year.

  • There are no lender fees when you get a VA loan from Movement Mortgage. In an expression of gratitude, Movement Mortgage covers all veterans lender fees.

  • Some states even offer property tax reductions to military borrowers 

Phone number- 612-209-7922

Email- Mark@marksvihel.com