The VA Loan Program has been an important financing option for service members since 1944, and today there is no better way for military members and veterans to finance a Virginia Beach, VA home than with a VA Loan. The benefits of a VA Loan continue to increase with the tightening of lending requirements nationwide. A conventional mortgage cannot match the financial advantages of a VA Loan, and unlike conventional mortgages, VA Loans offer reduced or no required down payment. Additionally, VA Loans have competitive interest rates and no private mortgage insurance.
Benefits of a VA Loan:
- VA Jumbo mortgage loans offer the lowest down-payment Jumbo Loans on the market today.
- Interest rates on VA Loans are often lower than their conventional counterparts.
- VA Loan can offer better interest rates for borrowers with lower credit scores than conventional loans.
- Underwriting guidelines and qualifications are often easier than conventional loans.
- VA Loans allow for seller to pay ALL traditional closing costs and up to 4% towards the buyer prepaid expenses and existing liabilities or debts of the borrower.There are no prepayment penalties.
- VA Loans are assumable.
- VA Loans can be refinanced without an appraisal up to 100% of the loan amount or more.
- Cash-out refinances up to 85% Loan-To-Value
Who is eligible for a Virginia VA Loan?
- Active Duty
- Retired Military
- Reservist or National Guard Members
- Surviving spouses (some instances)
Hampton Roads VA Loan Limits:
$417,000 for all Hampton Roads areas
Movement Mortgage proudly offers active duty and retired military VA Loans in Virginia Beach Va and the surrounding Hampton Roads cities.
If you’d like to discuss your individual situation as you prepare to purchase in Virginia or North Carolina, please, feel free to call my cell at 757-652-3999.
Pat Bowler | Market Leader & Mortgage Consultant
575 Lynnhaven Parkway Suite 101 | Virginia Beach VA 23452 | 757-652-3999
Movement Mortgage, LLC is an Equal Housing Lender. NMLS # 39179 | 877-314-1499. Movement Mortgage, LLC is licensed by the “Virginia Bureau of Financial Institutions” Lic # MC-5112. Interest rates and products are subject to change without notice and may or may not be available at the time of loan commitment or lock-in. Borrowers must qualify at closing for all benefits. “Movement Mortgage” is a registered trademark of the Movement Mortgage, LLC, a Delaware limited liability company.
NMLS license number 21095