VA Home Loans in Rancho Cucamonga CA are available for retired and active military members to purchase a home with no money for the down payment, that is correct 100% financing.
The VA home loan program is ideal for veterans looking to buy a house with limited funds to do so, with zero for down payment and VA non-allowable fees the applicant can not pay for, this is one of many benefits allotted to our service members, homeownership.
The benefits with the VA home loan program are:
- No money for the down payment unless the applicant wish to
- One of the easiest home loans to qualify for, still must meet all current underwriting guidelines with credit and income
- No monthly mortgage insurance regardless of the loan to value
- A Termite inspection/report and clearance is required in California but the applicant can not pay for the inspection report
- Seller if elected can pay up to 4% of the purchase price towards the buyer’s closing cost
- If the Veteran is disabled by the Veteran’s Affair of 20% or more, the VA funding is waived
- Must obtain a Certificate of Eligibility, we can request for you online, retired applicant should have a legible copy of their DD214 form
- If the applicant had a foreclosure or short sale 2 or more years ago, they are now eligible to apply for a purchase or refinance home loan, the shortest time among any other home loan program
- Opportunity to refinance known as the IRRRL program – Refinance up to 100% of the appraised value of your home and are able to pull out 100% of the home’s equity to do home improvement projects or pay off credit card debt and still all without monthly mortgage insurance, need to qualify for the loan with income, credit and debt ratio
The benefit the VA home loan program has to offer once in the program is, you are able to refinance into a lower rate without a termite report, no income documentation and no appraisal inspection, this is known as a IRRRL (Interest Rate Reduction Refinance Loan). So if the interest rates happen to fall lower than what your current mortgage interest rate is, you can refinance into a lower rate seamlessly, this is a no cash out refinance, just a streamline refinance into a lower mortgage payment.
Let’s discuss your goals and plans with the VA home loan program in Rancho Cucamonga to purchase with no money down or with a streamline refinance to lower your overall monthly mortgage payment. I have been certified by my present employer to offer, originate and fund VA home loans in the state of California.
I am Loan Officer / Mortgage Professional that is properly licensed in the state California and predominately serving the Inland Empire with refinance and purchase VA home loans. I welcome the opportunity to serve you as you did for our country and my services come with the best customer service and communication from the moment you call or text 909-503-5600 as well as emailing me HERE. I look forward in speaking and/or meeting with you soon.