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Thousands of people are using their VA Loan benefit every single month. Let us help you purchase a MN, WI, or SD home with ZERO DOWN payment up to $453,100. Or lower your existing VA home loan with a refinance to today's low interest rates. A small down payment is required if your loan would be over $453,100.
A VA Loan still allows a
active or veterans to buy a
home with Zero DOWN and finance 100% of the home's purchase price. Now more than
ever, banks are requiring larger down payments for conventional loans with more
expensive mortgage insurance. In many cases they require 10-20% down, putting
home ownership out of reach for many prospective buyers.
How much will ZERO DOWN save you? FHA loans require 3.5% down. Conventional loans will require a minimum of 5% down, and in many cases as much as 10% and 20%.
VA Loan offers a HUGE savings benefit. They do NOT require monthly PMI, or
private mortgage insurance. PMI is an added monthly expense required for
conventional loans and FHA loans where the borrower finances more than 80% of
the home's value.
Interest rates are also typically lower with a VA Loan, than a conventional loan. A lower rate combined with monthly PMI savings can substantially lower your monthly payment.
The qualification guidelines are less stringent for VA Loans. Because the loan is backed by the government, lenders don't need to meet strict lending rules.
VA Loans require no down payment, and have no mortgage insurance, plus you can roll all your closing costs into the loan. This makes for one heck of a great first-time home buyer deal for military veterans wanting to buy a home! The country appreciates your service. This is one way we pay you back. Today mortgage rates on VA loans are very low, making homes even more affordable.
VA home loans do not require a down payment, unless the purchase price is more than the appraised value or in excess of current loan limits.
VA home loans have limitations on which closing costs may be assessed to the veteran.
VA home loans have no prepaid without penalty.
Maximum (zero down) VA loan has increased to match conforming loans!
VA home loans may have forbearance extended to worthy VA homeowners experiencing temporary financial difficulty
VA performs personal loan servicing and offers financial counseling to help veterans avoid losing their homes during temporary financial difficulties
VA interest rates are competitive with conventional loan interest rates.
VA home loans do not require mortgage insurance - this is a HUGE savings.
Although there is no down payment required - There are still closing costs, but the seller usually pays ALL of the veteran's closing costs (and with a $0 down payment, the veteran can literally purchase a home for nothing)
VA STREAMLINE REFINANCE
If you have an existing VA home loan, you can refinance to a lower interest rate and payment. No appraisal required in most cases.
Cambria Mortgage - St Paul Office
33 Wentworth Ave E, Suite 290
Saint Paul, MN 55118
Office (651) 552-3681 Fax (651) 994-6425
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33 Wentworth Ave E - St Paul, MN 55118 - NMLS 274132
Equal Housing Lender © 2012 - 2023 - Joe Metzler for Cambria Mortgage
Cambria Mortgage. Nationwide Mortgage Licensing System and Registry (NMLS) # 322798 Saint Paul Branch - NMLS # 1888858. Joe Metzler, Licensed Mortgage Loan Originator NMLS # 274132. Minnesota Lic #: MN-MLO-274132. Wisconsin Lic #: 11418. South Dakota Lic # MLO.03095