VA Loans for Those Who Have Served
It is our great honor at BBC Group to provide home financing to veterans and servicemembers who have served our country. VA loans are a very popular mortgage option with great benefits, such as 0% required down payment. Our mortgage professionals can quickly determine if you are eligible for this unique financing option and help you through the entire process. We work with clients in Anaheim, Riverside, Long Beach, and nearby California cities. Contact BBC Group today for a free quote and to learn more.
A Nonconventional Financing Option
VA loans are a type of nonconventional loan; that is, they are backed by a division of the federal government. There are several types of nonconventional loans, but this type is insured through the U.S. Department of Veterans Affairs (the VA). The VA handles and assists veterans, servicemembers and their families with several matters, including this mortgage solution.
VA loans are fully funded through private investors and only insured through the federal government. Because of this insurance, lenders are encouraged to approve a larger segment of clients and with less risk. If a borrower defaults on his or her loan, the federal government reimburses the lender, at least in part. This means lenders incur less risk when funding clients, even if they have less-than-great credit scores or are unable to make a down payment.
VA Loan Benefits
VA loans have many advantages, including:
- Use for purchase, construction, or renovation
- No down payment
- No penalty for paying off the loan early
- Minimal closing costs, which can be paid for the seller if included in the closing contract
- Competitive fixed rates
- No required private mortgage insurance
While there are other nonconventional loans with great benefits, VA loans have some of the greatest benefits.
Getting Started with a COE
If you think you may be eligible for a VA loan, the first step you’ll need to complete is to obtain a certificate of eligibility (COE). The COE is required for any person applying for a VA loan. In addition to servicemembers and veterans who have met service requirements, certain others can obtain a COE. These include surviving spouses of certain veterans who were killed during service or because of a service-related injury and members of certain other government organizations. Our mortgage professionals can quickly determine if you meet the requirements and help you obtain your COE.
Why Wait? Learn More About Your Options
Whether you’re looking to purchase a new home, renovate an existing one or refinance your current mortgage, consider a VA loan. Our VA loan specialists have local expertise in Anaheim, Riverside, Long Beach, Carson, and nearby California. Start with BBC Group, and we’ll help you at every step of the way.