FRENQUENTLY ASKED QUESTIONS & ANSWERS:

Q: What is a V.A. loan?
A: The GI Bill was signed into law by President Franklin D. Roosevelt and provided veterans with a federally guaranteed home with no down payment. This feature was designed to provide housing and assistance for veterans and their families, and the dream of home ownership become a realty for millions of veterans.

Q: Why is a V.A. loan a good idea?
A: The more you know about our home loan program, the more you will realize how little “red tape” there really is in getting a VA loan. These loan are often made without down payment at all, and frequently offers lower interest rates than ordinarily available with other kind of loan.

Q: How do I apply for a V.A. loan?
A: You can apply for a VA loan with us by calling us. Or send us an e-mail:
arcew@commonfundmtg.com

Q: What are the maximum V.A. loan?
A: Although there is no maximum VA loan (limited only by the reasonable value or the purchase price), lenders generally limit the maximum VA loan to $240000 because most VA loans are sold in the secondary market, which limits VA loans that amount.

Q: Do I need to occupy the home than I buying with a V.A. loan?
A: The law requires a veteran obtaining a VA loan to certify that he or she intends to personally occupy the property as his or her home.

BENEFITS OF A V.A. LOAN
It Pays To Be a Vet!

1. NO DOWN PAYMENT
Down payments is not required in most cases.

2. NO MORTGAGE INSURANCE
There is never a monthly mortgage insurance premium to pay.

3. MINIMAL TOTAL MOVE-IN COSTS
We negotiate with the seller to pay for most or all your closing cost.

4. LIMITATIONS ON BUYERS CLOSING COSTS
Your closing cost are limited by the Department of Veterans Affairs to lower your costs.

5. ASSUMABLE MORTGAGE
Make more money when you use this great tool.

6. STREAMLIME REFINANCES
V.A. does not require an appraisal, income, and employment verification, credit report nor termite report.

HOW IT WORKS
THE 5 STEPS HOME BUYING PROCESS

1. PRE-QUALIFY BY CALLING 315-572-0932
Income, debt, credit, and military record verification

2. FIND YOUR DREAM HOME
Working with your VA home specialist, locate a property you will love to call home

3. NEGOTIATE
Your V.A. home specialist will research the fair market value for your home and negotiate favorable terms on your behalf

4. LOAN APLICATION
Once you have an agreement with the sellers, sit for loan application. Documents required: W2 tax form, recent pay stubs, driver license, SSN card, and bank statements.

5. CLOSE
Congratulation!! You have successfully utilized your V.A. benefits and are happy homeowners.