VA Loans

Gilbert AZ VA Loans

Many Veterans have chosen to call Gilbert their home – and one of the most popular home loan programs for Veterans is the VA loan. VA loans let Veterans buy a house and pay no monthly mortgage insurance and still get 100% financing.  In addition to these benefits of getting into a VA loan, once you have a VA loan, it is easy to refinance the VA loan when needed with the VA streamline refinance program (also called the VA IRRRL program).

Many Veterans in Gilbert know that VA doesn’t actually lend you money – they act as an insurer in the event that the loan goes into default.  Lenders like loaning money under the VA loan program because they have HUD acting as an insurance company – so even if the homeowner is unable to continue making their mortgage payment, the lender is insured against loss.

Gilbert AZ VA loan highlights:

  • 100% financing for new home purchases
  • No mortgage insurance required
  • No prepay penalty in any Arizona VA loan
  • Arizona VA loans have similar closing costs to other loans, even though they offer 100% financing
  • A one time funding fee is charged – but can rolled into the loan

Gilbert AZ VA Loans: Certificate of Eligibility

When getting a VA loan in Gilbert, you will be required to have a Certificate of Eligibility from the VA and it must be in your loan package in order to qualify for a VA home loan. If you don’t currently have a certificate of eligibility or need help obtaining your certificate, you can contact your loan officer for help, they are usually able to help you obtain your certificate easily.

Gilbert AZ VA Loan Experts

We live and work right here in Gilbert and are happy to answer any questions that you may have. Contact us today for help in getting your VA loan closed – fast – or with any other questions that you have about VA loans.

Comments on this entry are closed.