Veteran benefits – The VA home Loan Buyers Guide
Veteran Benefits - The VA Home Loan Buyers Guide

Veteran benefits – The VA home Loan Buyers Guide

About Home Loans

The VA (Veterans Administration), helps Veterans, current Service members and eligible surviving spouses become new homeowners. As part of the CambridgeHomeLoan.com mission to serve you, we work with primary VA Lenders wholesalers to provide a home loan guaranty benefit and other housing-related programs to help you buy, build, repair, retain, or adapt a home for your own personal occupancy.

VA Home Loans (VA Loans) are provided by private lenders, such as banks and mortgage companies. The VA guarantees a portion of the loan, enabling the lender to provide you with more favorable terms. The lender takes on the balance of the risk.

  • What Are The Main Benefits Of A VA Home Loan
    No down payment
     required 
    (*Note: Lenders typically require downpayments for borrowers using the VA home loan guaranty.)
  • Competitive Interest Rates 
  • Limited closing costs
  • There is no need for (PMI Insurance ,Private Mortgage Insurance (PMI)
  • The VA loan is a lifetime benefit: you can use the VA guaranty multiple times. Send us your DD-214 or COE. We can obtain the COE for you if it is not in your possession. 

Eligibility Requirements

If you have a copy of your DD214 you can email it to [email protected] and we can obtain your certificate of eligibility which will tell us how much you are eligible for. Typically, the amount of time served, duty status and character of service determine your eligibility amount for specific home loan benefits.

*Eligibility for the Va Loan now includes National Guard members with at least 90 days of active service including at least 30 consecutive days under Title 32, Sections 316, 502, 503, 504 or 505.

Purchase Loans and Cash-Out Refinance: VA-guaranteed loans are available for homes for your occupancy or a spouse and/or dependent (for active duty service members). To be eligible, you must have satisfactory credit, sufficient income to meet the expected monthly obligations, and a valid Certificate of Eligibility (COE). 

Interest Rate Reduction Refinance Loan (IRRRL): The IRRRL is a “VA to VA” loan, meaning it can only be done if you have an existing VA guaranteed loan on the property. The IRRRL is generally performed to lower the interest and reduce the monthly payment on the existing VA guaranteed loan.

VA Loan Types. 
A First time home buyer purchase loan. VA Purchase Loans Help you purchase a home at a competitive interest rate requiring no downpayment or private mortgage insurance.

Cash Out Refinance loans allow you to take cash out of your home equity to take care of concerns like paying off credit card debt, making home improvements or go on a vacation. 

Rate and Term Refinance or an Interest Rate Reduction Refinance Loan (IRRRL): The Streamline Refinance Loan can help you obtain a lower interest rate by refinancing your existing VA loan. 

How to Apply

Purchase Loan & Cash-Out Refinance: VA loans are obtained by clicking HERE!

Home Loans For Military

You defended the American Dream. Now You Can live it. See what your military service has earned you:

VA Loan Eligibility

Check to see if you meet the requirements to use your hard-earned VA Home Loan benefits.

Zero Down Payment

Your military service entitles you to a homebuying savings with a $0 Down VA Loan.

First-Time Home Buyers

Find out why VA Home Loans are ideal for Veterans and military families buying their first home.

How much can I afford?

Get a quick calc of what your monthly payments would be with a VA Loan.

VA Loan Rates

Check the competitively low VA Loan rates and lock in your interest rate today.

Start Your Quote

Join thousands of Veterans and military who start their homeownership journey every day.

 

VA Loan and Military Home Loans for those serving and our veterans.

A VA mortgage loan (also known as a Veterans Administration home loan) is one of the useful military benefits. If you qualify for a VA Loan, you can buy a home or build the home of your dreams.  You can also cash our refinance or refinance an existing mortgage, with as little as zero down, better than current rates, and financing up to $548,250  – higher limits if you live in certain high-cost areas like New York City Prince Georges County Maryland and other high cost areas nationally. 

Another benefit is that there is no PMI (Private Mortgage Insurance, the monthly insurance fee charged to protect the bank until you reach at least 20 percent equity) required by other FHA and conventional loans.

For most of our service-members and veterans who do qualify, a VA loan is one of their most valuable benefits over other, traditional mortgage loan types.  Let us help you qualify for your VA loan. The sooner you get started the better.

Not only do we provide the best VA Loans for our Veterans but we put together hundreds of vendors that provide special pricing for our Veterans. Click Above.

Home Loan Expert Loan Information

Commercial-bridge-loans-chl

Commercial Bridge Loan

Commercial Bridge Loans A Commercial Real Estate Bridge Loan is defined as a short-term real estate loan for a Commercial Property – such as a retail store,

Read More »
first time home buyer

First Time Home Buyer

Are you a first time home buyer that’s wondering if you can qualify for your first home. First time home buyers typically have information thrown

Read More »
Share This Post

Leave a Reply