VA Home Loans
LIMITED TIME ONLY WE PAY VETERAN’S CLOSING COSTS!
At the end of 2016 Global Home Finance Inc. secured the rights to provide a special no closing costs program under a special Customer Closing Costs Subsidy Program (CCCSP). The program set aside funds of 100 million to be used to pay Texas Veteran’s mortgage closing costs. When the 100 million in funds is depleted the program will automatically terminate. This is only for Veterans Administration loans for Global Home Finance Inc. customers. We are allowed for a limited time to provide our customers with no closing cost loans under the VA lending program – including VA Jumbo loans with excess entitlement. Once the 100 million is gone this program will be terminated act now by calling 866-923-3222 or Apply Securely Online at:
A VA Loan is Right for Me and I am Ready to get Started with No Closing Costs!
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Questions? Call: 866-923-3222 from 8:00a.m. to 7:00p.m.
Why Pay a Fee When you Can Get It For Free?
The VA Loan traces back to 1944 through the original Servicemen’s Readjustment Act also known as the GI Bill of Rights. 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 became a reality for millions of veterans. The GI Bill contributed more than any other program in history to the welfare of veterans and their families, and to the growth of the nation’s economy.
VA will guarantee a maximum of 25 percent of a home loan amount, which limits the maximum loan amount to $424,100 to allow for 100% financing. Above that figure the veteran must pay a portion towards the down payment of the home. Generally, the reasonable value of the property or the purchase price, whichever is less, plus the funding fee may be borrowed. All veterans must qualify for this program as they are not automatically eligible.
VA guaranteed loans are made by private lenders, such as banks, savings & loans, or mortgage companies to eligible veterans for the purchase of a home, which must be for their own personal occupancy. The guaranty means the lender is protected against loss if you or a later owner fails to repay the loan. The guaranty replaces the protection the lender normally receives by requiring a down payment allowing you to obtain favorable financing terms.
You may qualify for a VA loan even though you have had financial problems.
- Credit scores can be lower than those for a conventional loan. (VA has no minimum score technically for a 90% loan but 580 or above for 100% financing.)
- Bankruptcy. You can obtain an VA loan two to three years from the date of your bankruptcy discharge, as long as you’ve maintained good credit since your debts were discharged.
- Foreclosure. If you keep your credit in excellent shape since a foreclosure, a VA loan will be available to you three years from the final date of your foreclosure.
Competitive Rates & Terms
Even if you have less than perfect credit you still get an “A-paper” like interest rate.
- There is little or no adjustment to the interest rate for an VA loan, as the rates usually vary within .25 percent of a conventional loan.
- A VA funding fee is financed into the loan balance instead of being paid out-of-pocket. In addition, there is no need for any monthly mortgage insurance premium when your loan to value is over 80% as is the case with FHA and Conventional loans.
- Borrowers can finance 100% of the purchase price.
- Allowable debt ratios are higher than the debt-ratio limits imposed for most conventional loans. The VA performs a residual income calculation and as long as your disposable income meets the limit and the automated underwriting system approves your debt ratio you can qualify.