Veterans Affairs (VA) loans are loans provided to active-duty military and veterans. These loans are guaranteed by the U.S. Department of Veteran Affairs. For those who qualify, VA loans are usually easier to obtain than conventional loans.
Active members of the military, veterans, and members of the National Guard qualify for VA loans. And, granted they do not remarry, spouses of deceased military members or veterans are also eligible for these types of loans, if the deceased spouse died while on active duty. There is no minimum credit score required to be eligible for a VA loan from the government, although some lenders may enforce one.
One benefit qualifying personnel receive when taking out a VA loan is the absence of a required down payment. While many other loans for Southern California homeowners require a certain amount of money set aside for a down payment, VA loans don’t require a down payment or even mortgage insurance.
Another benefit of taking out a VA loan is the assistance offered to those struggling to pay back the mortgage on their Southern California home. The VA as an organization will step in and negotiate with a lender when the borrower is having trouble paying the loan payments.
Keep in mind, when choosing to take out a VA loan a one-time fee will still be required, the amount dependent upon the size of the loan and the type of veteran applying. Even though VA loans generally carry less costs than other types of loans, it is still good to keep this one-time fee in mind.
For further queries, please Contact The Forester Team today and find out if you qualify for a VA loan for your Southern California home!
Thank you so much for all that you have done for us throughout this process. I honestly do not know if we would have our dream home if it weren’t for your amazing work ethic and ability to get the ball rolling so quickly. Two offers were put on our home while awaiting the loan approval! No one else could have made that happen as quickly and efficiently as you did! We are eternally grateful to you and your amazing team at Team Forester Home Point Financial. Thank you. Thank you. Thank you.Amy Stock
I would like to appreciate you and your team’s work for getting this refinancing processed and finished in time with such an efficiency. You made it go through with such an ease. I would most definitely recommend you and your team in the future.Thank you again for your support and help!Helena Chun
Thank you for assisting me and my family with the purchase of our home. The entire process was beyond expectations. All of you have made my first time home buying experience enjoyable and memorable.I’m very pleased and will definitely recommend and work with all of you again.Semper Fidelis
Thank you all for your assistance and guidance through our first purchase. It went very well (much smoother than anticipated) and we thank you for all the hard work you all have put in to getting us into this home. We look forward to working with you again in the future.Eric & Nicole Roachell
Casey Forrester is the best in all regards, I can’t say enough good things about him. We just closed a VA loan in 21 days yesterday. He is able to fully underwrite the file before he even gives a pre-approval letter which allows you to offer without a loan contingency! Also, you can close in 21 days which cuts the escrow period by 30% and increase profitability and cash flow for you as the agent. He also has an online pre-approval link in his signature that makes getting pre‐approved super easy!Drew Schulte
Thank you, Casey, for a job well done. I was so glad that I called you to refinance our home. The moment that I talked to you on the phone that first day about the refi, it felt like a huge weight was lifted off my shoulders.You put my mind at ease, I was calm and confident that I had made the right choice.Derek Paddock
I have truly appreciated working with you and your team and will continue to recommend you to our friends!Brian & Nina Kasper
You and your team didn’t have the easiest case, but you handled it so well. Your communication was great, and everyone we dealt with was very friendly. I wish we had worked with you on the first go-around, but either way, we are looking forward to working together again in the future.Andrew & ArielKinsler