VA Home Loans
We’re honored to help veterans refinance or buy their homes with the VA loan
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Standard VA Home Loans
Borrow or refinance up to 100% with our VA Home Loans The VA loan was designed to offer long-term financing to eligible American veterans or their surviving spouses (provided they do not remarry). The basic intention of the VA direct home loan program is to supply home financing to eligible veterans to help purchase properties with no down payment. Most Single Family Homes are Eligible and Peoples Mortgage is able to help approve condos that are not currently approved by the VA. In either case, you will want to work with a Loan Professional to review each individual property. The VA loan for veterans allows for up to 103.3 percent financing without private mortgage insurance. Peoples Mortgage also offers loans for veterans with up to $6,000 for energy efficient improvements. A VA funding fee of 0 to 3.3% of the loan amount is paid to the VA; this fee may also be financed. In a purchase, veterans may borrow up to 103.15% of the sales price or reasonable value of the home, whichever is less. Since there is no monthly PMI, more of the mortgage payment goes directly towards qualifying for the loan amount, allowing for larger loans with the same payment. VA Loan Features & Benefits Loan Terms: Fixed 30 year, 5/1 ARM, 3/1 ARM You are eligible if you served the under any of the following timelines and were honorably discharged:
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VA Jumbo Loans
Low deposits & even lower rates for veterans The VA Jumbo loan (high-balance loans) are probably one of the most misunderstood and underutilized tool in the VA Benefits package. The majority of lenders do not even know how to leverage this lending tool to its full and complete capacity on behalf of their VA Borrowers. We have worked for years on making this tool work for our VA borrowers to its full capacity. If you are a veteran looking to purchase a home above $417,000, call us for a no hassle, no obligation review of your VA benefits so that you can at least examine your true options. VA Jumbo Loan Features & Benefits
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