What is a VA Mortgage Loan?
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Do I Qualify for a VA Mortgage Loan?
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Are There Additional Qualifications for a VA Mortgage Loan?
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Benefits of a VA Mortgage Loan
No down payment required
No mortgage insurance (MI)
No appraisal needed on certain refinance loans
Closing costs limited and may be paid by the seller
No penalty fee if you pay off the loan early
Assistance available if you have trouble making payments
Surviving spouses may be eligible
Understanding the VA Funding Fee
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You can use your VA loan to finance a home you personally occupy or will occupy within 60 days of closing.
Eligible properties are:
Single family residences
2-4 unit properties
VA-approved condos
Manufactured housing
How Do I Apply for a VA Mortgage Loan?
Contact a loan originator
Confirm you meet VA home loan requirements
Obtain a valid Certificate of Eligibility (COE)
Apply for loan pre-approval
Gather supporting documents
Find a home with your real estate agent
Complete your loan application and begin closing steps
VA Mortgage Loan Types
While there are several types of VA home loans, the three most common are:
Purchase
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Cash-Out Refinance
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IRRRL
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If you're interested in learning more about other VA loans, contact us.
The information provided in this blog post is for general informational purposes only and does not constitute professional financial advice. Freestone Mortgage LLC makes no representations or warranties about the accuracy, completeness, or suitability of this information for your specific situation. Mortgage refinancing options and outcomes can vary greatly depending on individual circumstances, market conditions, and regulatory changes. Before making any decisions regarding mortgage refinancing, you should consult with a qualified financial advisor or mortgage professional to obtain personalized advice. Freestone Mortgage LLC is not liable for any losses or damages arising from the use or reliance on the information provided in this blog post. All loans subject to underwriter approval; terms and conditions may apply. Subject to change without notice. Always consult an accountant or tax advisor for full eligibility requirements on tax deduction
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