VA Loan  You served your country: 

Now we can make your home purchase easier.

VA guaranteed loans are made by lenders and guaranteed by the U.S. Department of Veteran Affairs (VA) to eligible veterans for the purchase of a home. The guaranty means the lender is protected against loss if you fail to repay the loan. In most cases, no down payment is required on a VA guaranteed loan and the borrower.

Other benefits of a VA loan include:

• Negotiable interest rate.
• Closing costs comparable – and sometimes lower - than other financing types.
• VA regulated allowable closing costs  (click here for the list of items the Buyer CANNOT pay)No private mortgage insurance requirement.
• Right to prepay loan without penalties
• Mortgage can be taken over (or “assumed”) by the buyer when a home is sold.
• Counseling and assistance available to veteran borrowers having financial difficulty or facing default on their loan.
• 100% financing up to $417,000 with full eligability and up to $1,094,625 based on CA County mdeian imcome information.  VA 100% Loan LimitsPer County

Although mortgage insurance is not required, the VA charges a funding fee to issue a guarantee to a lender against borrower default on a mortgage. The fee may be paid in cash by the buyer or seller, or it may be financed in the loan amount.  Most buyers finance the funding fee.

A VA loan can be used to buy a home, build a home and even improve a home with energy-saving features such as solar or heating/cooling systems, water heaters, insulation, weather-stripping/ caulking, storm windows/doors or other energy efficient improvements approved by the lender and VA.

Veterans can apply for a VA loan with any mortgage lender that participates in the VA home loan program. A Certificate of Eligibility from the VA must be presented to the lender to qualify for the loan.

VITEK Mortgage Group has a Full Eagle Lender rating.  This rating means that your VA loan can proceed smoothly to a quicker close of escrow since the entire process is done "in house".  Where other lenders need to send your loan file to VA for approval, VITEK is a "one stop shop".

FHA also offers specialized benefits to veterans, as well as the state of California through the CalVet home loan program. At VITEK MORTGAGE GROUP we are proud to participate in all VA home loans.Please let me know if you have further questions -I'm are ready to assist you with all options.

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