Georgia VA Mortgage Loans

Georgia VA Mortgage Loans

Many veterans in Georgia are aware that the VA home loan is a popular way to finance a home. Getting a VA loan in Georgia to finance a home means that not only will you not have to pay monthly mortgage insurance, but you also can finance up to 100% of the property value. Once you have a VA loan, when the time is right, it is also very easy to refinance thanks to the VA streamline refinance (aka VA IRRRL streamline) program.

As many people are aware, the VA isn’t the actual entity who actually lends you money, they act as an insurer on your loan in the event of a default. Whenever a VA loan defaults, the VA steps in and insures the lender against loss. Because the VA insures against default, many lenders are eager to loan money under the VA loan programs.

Georgia VA Loan Highlights

  • Possible to finance up to 100% of a home’s appraised value
  • VA loans do not require that you pay monthly mortgage insurance
  • There is no prepay penalties in VA loans
  • A funding fee is charged on all VA loans – except for veterans who have at least 20% disablilty
  • All closing costs can be rolled into the loan with a VA loan

Georgia VA Loan Certificate of Eligibility

In order to qualify for a VA loan, the first step is to prove that you are eligible under the VA guidelines. In order to prove that you are eligible for the VA loan program, you will need to have a Certificate of Eligibility from the VA and it must be presented to the lender at the time of your application. If you need help getting your Certificate of Eligibility, your loan officer should be able to help you.

For veterans who are currently in a VA loan, the Georgia VA streamline refinance program allows you to take advantage of lower interest rates without having to completely re-qualify for a new loan. The VA streamline requires no out of pocket expenses – which means that you can relax at closing knowing that you won’t have to bring a big fat check. The VA IRRRL streamline refinance is really the easiest refinance program available – no matter what kind of refinance you compare it to.

Georgia VA Mortgage Loan Experts: Contact Us

To learn more about the VA loan program and find out if it is right for you, be sure to contact one of our Georgia VA mortgage loan experts. We are happy to be your trusted expert when it comes to Georgia VA loans.

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