 |
Prequalify for Your VA Loan
Prequalifying gives you a general idea about your borrowing power as a veteran. If you prequalify for
a VA loan, it means that you have told a lender what your income and assets are,
and that based on those statements, you should be able to qualify for a given loan.
Keep in mind that prequalifying merely gives you an estimate based upon the information you
provide. Prequalifying can give you an estimate of how much you can afford in a mortgage payment.
Prequalifying for a mortgage will help answer these questions:
| |
Once you are Prequalified for a specific loan amount, you will
enjoy the following advantages:
- House Hunting with Confidence:
Knowing that your mortgage loan is already approved, you can look for your new home with the confidence that the closing process will be smooth and easy.
- Negotiating Power:
With your financing secured and a closing date guaranteed, sellers know that your offer is solid.
- Flexibility:
Although our pre-approvals will be for a specific loan amount, we realize that your loan requirements may change. Simply call us if you need to change your loan amount, or the term or type of loan.
- Service Excellence:
Our service is outstanding and we will answer all of your mortgage questions promptly and thoroughly.
|
FREQUENTLY ASKED QUESTION # 23 [ -more VA Loan questions- ]
- - - - - -
Q: Does the VA Charge A Fee? - Are there fees associated with my VA home loan?
A: There is a "VA funding fee" required by law. A first-time buyer will pay a little over two percent for a 'no money down' loan, and a second time buyer's fee is just above three percent. The reason for the fee includes the idea that the veteran is reducing taxpayer burden by contributing to the cost of his VA mortgage. The higher fee for second-time borrowers presumes that there is equity in the home, or the borrower has had plenty of time to save in order to pay for the extra percentage. There is also a fee for VA refinance loans, and they fall within the same general price guidelines; just above two percent for first-timers and just above three percent for those who borrow again.
|
 |
|
VA Loan Rates
for 8/20/2008
30 year fixed
-----------------
0.000 points
6.500%
6.618% APR
15 year fixed
-----------------
0.000 points
6.500%
6.500% APR
Life Insurance for Military Members
|
- AIU Online
- Capella University
- DeVry University
- Kaplan University
- Westwood College
- Walden University
- Strayer University
- Virginia College
- Grand Canyon U.
- Grantham Univ.
- Jones Int'l Univ.
- South University
- Ellis College
- CTU Online
- Baker College
VALoans.com is a private company specializing in VA financing and is
not a government agency.
|
|
 
|
Get Started with a
VA Home Loan
|
Copyright © 1997- 2008
VALoans.com
All Rights Reserved
Web Design
Archimage
Houston, Texas
|
