VA Loans: No Buzz, Just Benefits! 🐝

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**VA Loans:**

A VA loan is a no down payment mortgage guaranteed by the U.S. Department of Veteran Affairs (VA). This program is available to most U.S. service members and offers some great benefits to those who have served our country.

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**Benefits of VA Loans:**
- **No Down Payment:** Buy a home with no money down.
- **High Refinance Limits:** Refinance up to 100% of your home's value.
- **No PMI:** Never pay Private Mortgage Insurance.
- **Closing Costs Covered:** Sellers can pay your closing costs.
- **Easier Approval:** Government insurance reduces lender risk.

 

**VA Streamline Refinance:**

Already have a VA Loan? You might be eligible for a VA Streamline Refinance.

**What is a VA Streamline Refinance?**A VA Streamline Refinance allows you to refinance an existing VA mortgage to lower your interest rate with little or no out-of-pocket closing costs. No need for bank statements, W2s, job verification, or paychecks.

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**Who is Eligible for a VA Loan?**
Almost all active duty or honorably discharged service members are eligible for a VA loan. You may be eligible if any of these describe you:
- Served 181 days during peacetime (Active Duty)
- Served 90 days during wartime (Active Duty)
- Served 6 years in the Reserves or National Guard
- Spouse of a service member killed in the line of duty
- Currently receiving disability payments from the VA

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**What is the VA Funding Fee and is it required?**
Yes, the VA Funding Fee is required. It's paid directly to the Department of Veteran Affairs to guarantee your loan and offer you the opportunity to receive a loan with little to no money out of pocket. Eligible disabled vets and widowed spouses are often exempt from this.

**How much is the VA Funding Fee?**
The fee depends on several factors including your service status (Active Duty, Retired, Guard, or Reserve), whether this is your first-time use, subsequent use, or a cash-out refinance, and your down payment amount. The fee can range from 1.25% to 3.3% of the loan. Generally, the more money you put down, the lower the VA funding fee. Contact us to determine the exact cost for your situation.

**Do I have to pay the VA Funding Fee out of pocket?**
No, you can include the VA Funding Fee in your loan and pay it over the course of your loan.

**Funding Fee Waiver:** Disabled Veterans receiving disability payments or considered at least 10% disabled may qualify for a waiver of the Funding Fee.

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**Do I still have to pay other normal closing costs like Appraisal, Title, and Escrows?**
Yes, however, if you are purchasing a new home, the seller can pay for all or part of your closing costs.

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**Contact Us:**
We’re here to help 7 days a week. Reach out by calling or texting 941.499.7315

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**Ready to get started? Let's make your homebuying journey a sweet success!** 🐝

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