USA VA LOAN PROGRAMS : LOANGIANT.CASH : LoanGIANT Finance & Insurance Corp.

LOAN PRODUCTS FOR:

PURCHASING REAL ESTATE

0% Down / 580 Minimum

Down Payment Assistance

MIP paid the life of the loan

41% DTI Allowances

Paystub / Self Employed

One-Time VA Funding Fee of 2.3%-5%

Paystub / Self Employed / Pension

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Let us help you achieve your home financing goals!

Our team of home loan experts are standing by to assist you with determining if an FHA loan is the perfect match.

LoanGIANT’s experienced LoanGIANT Loan Consultant professionals are always happy to help answer any questions you may have about Conventional loans, requirements, or the mortgage process.

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WORKS WITH VA PROGRAMS: Programs for First Time Homebuyers

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VA VETERANS AFFAIRS

PURPOSE & HISTORY:

We at LoanGIANT Home Loans, believe that it’s important to provide a range of lending solutions that fit all types of buyers. That’s why we offer VA loans – because they can be a smart choice for buyers with limited funds and marginal-to-average credit. The Veterans Affairs (VA) under Homes for Disabled Volunteer Soldiers was created in 1930 to make it easier for veterans and spouses of veterans to purchase a residence or facility, even for buyers with limited capital and/or imperfect credit.

Why you may benefit from an VA home loan:

VA loans are partially insured by the government, which reduces a lender’s risk and makes qualifying for the loan simpler. That means you may be able to make that purchase investment much sooner than you hoped. Give us a call and we’ll walk you through everything you need to know to find out if this is the right solution for you.

No Private Mortgage Insurance is required because of entitlement:

Do VA loans require PMI? No, unlike other loans, you don't need to worry about private mortgage insurance (PMI). Due to the entitlement, which usually amounts to more than 20 percent of the home's value, you don't need to pay PMI on a VA loan.

VA Funding Fee Required:

The VA funding fee is a one-time fee paid to the Department of Veterans Affairs that supports the VA home loan program. Veterans who put down less than 5% on their home purchase will pay 2.3% of the total loan amount when buying a home for the first time and 3.6% on subsequent loans. VA borrowers can pay less on the funding fee by putting down more money on the home.

Key Features and Benefits of FHA Home Loans:

You may qualify to buy with a low, 3.5% down payment.
Credit scores from 620 are allowed for fixed-rate loans.
Both fixed-rate and adjustable-rate mortgages (ARMs) available.
You may finance a single-family home, 2-4 unit property, modular home, condominium or a Planned Unit Development (PUD) property.
Temporary buydowns may reduce your initial interest rate for 1-2 years.
Usually, FHA loans work very well with government, state and local down payment assistance programs.

As a Veteran, you know the importance of home.

To thank you for your service, LoanGIANT offers VA loans to provide Veterans the opportunity for homeownership. Our knowledge combined with exceptional service leads to a successful homebuying journey for our deserving Veterans.

What Is a VA Loan?

VA loans are guaranteed by the U.S. Department of Veterans Affairs. Referred to as a “government” mortgage, VA loans are available to Veterans, Reservists, Active Duty Personnel, and surviving spouses of Veterans (based on military entitlement).

Advantages of VA Loans:

No down payment required
30-year and 15-year fixed loans
No monthly mortgage insurance premium
Limited closing costs
No prepayment penalty

Determine Your Eligibility for a VA Loan

You may be eligible for a VA loan if you meet AT LEAST one of the following requirements:

You have served 90 total days of active service during wartime or 181 continuous days of active service during peacetime.
You served less than 90 days of active service during wartime or less than 181 days of active service during peacetime if you were discharged for a service-connected disability.
You served six creditable years in the Selected Reserve or National Guard.
You are the surviving spouse of a Veteran who lost their life while serving or as the result of a service-connected disability, and you have not remarried.

What about a Certificate of Eligibility (COE)?

A COE shows that you are VA-eligible, and this can be obtained from the VA online or by mail, or we can assist you with securing it.

VA GOVERNMENT HOME LOANS FOR PURCHASING

WITH AS LITTLE AS 0% DOWN

VA FIXED

How do VA home loans work?

A VA home loan is a mortgage loan that’s issued by private lenders and partially back by the federal government. It helps U.S. veterans, active duty service members, and select widowed military spouses to buy a home.

VA home loans have been around since 1944, but they’ve become increasingly popular in recent years and now account for about 8%* of home purchases. This type of loan is often a good option because requirements are less restrictive to qualify for and require little to no down payment.

VA home loans can be a great way into homeownership. They differ in some key ways from traditional home loans, so contact us to find out if a VA home loan is the best way for you to buy that dream home. 

Key Features and Benefits of VA Home Loans:

Little or no-down-payment
Minimum credit of 620 is required for fixed-rate financing.
Borrowers with credit scores from 580 to 619 are subject to stricter guidelines.**
Adjustable-rate mortgages (ARMs) require a minimum 620 credit score.
High-balance loans are allowed. If you're buying a home in a high-cost area, you may qualify for up to $2.5 million in loan funds.
A variety of property types are allowed, including single-family residences, 2-4-unit properties, VA-approved condominiums, manufactured homes and properties in Planned Unit Developments (PUDs).
Loans are for primary residences only and can’t be used for investment properties.

LoanGIANT is proud to support veteran and military home buyers, you can find out more about our initiatives by visiting LoanGIANT Military Lending.

* Source: U.S. Census Bureau and U.S. Department of Housing and Urban Development, New Residential Construction,   https://www.census.gov/construction/nrs/pdf/quarterly_sales.pdf
**Borrowers with credit scores from 580 to 619 may only qualify for purchase transactions of one-unit single-family residences. Gift funds and down payment assistance is not allowed. Other restrictions may apply.

VA Streamline Refinance

A VA Streamline Refinance, or IRRRL, provides you with a faster way to lower or lock in your interest rate with limited costs.

The fast and easy way to refinance your VA mortgage:

A VA IRRRL is a streamlined process that allows you to eliminate a lot of red tape when refinancing your existing VA mortgage. As a current LoanGIANT customer with VA loan, we make the process easier for you and deliver a smoother, faster path to closing than your typical loan process.*

IRRRL stands for Interest Rate Reduction Refinance Loan (pronounced “Earl”) and it’s an easy way to replace your current VA loan with one that has a lower interest rate. You can also use it to shorten your VA mortgage term or to switch from an ARM to a fixed-rate loan. And while most funding fees typically range from 2.14% to 3.3%, an IRRRL comes with a lower VA funding fee of just 0.5%.

Key Features and Benefits of VA Streamline Refinance:

An easy way to lower your monthly payments if the interest rate has decreased since you got your original VA loan.
You can also use an IRRRL to change an adjustable-rate mortgage (ARM) to a fixed-rate loan, shorten your loan’s term or pay for energy-efficient home improvements.
No appraisal is required.
No need to verify your income.
Your VA entitlement is re-used, so your amount is not affected.
The VA funding fee is lower than on original VA loans.
Less expensive overall and often has no out-of-pocket costs.

LoanGIANT is proud to support veteran and military home buyers, you can find out more about our initiatives by visiting LoanGIANT Military Lending.

*VA Streamline Refinance Eligibility and Property Requirements: Be current on your mortgage with no more than one 30-day late payment within the past year. Your new monthly payment for the IRRRL must also be lower than the previous loan’s monthly payment unless you refinance an ARM to a fixed-rate mortgage. You must not receive any cashback from the VA Streamline Refinance. You must have previously used your VA Loan eligibility on the property you intend to refinance and certify that you previously occupied the property. You may see this referred to as a VA to VA refinance.

VA Refinance Loan Options:

VA IRRRL (Interest Rate Reduction Refinance Loan)

Do you want to reduce your monthly mortgage payment or make your payment more stable? A VA IRRRL may be the right choice for you! VA IRRRL is available for those with an existing VA-backed home loan.

Advantages of a VA IRRRL:

Lower interest rate for a lower monthly mortgage payment
Move from a loan with an adjustable or variable interest rate to one that’s fixed for a constant payment
Option to roll closing costs into the total loan for little or no out-of-pocket expenses
No appraisal, few documents needed, and flexible eligibility requirements

Note: You must prove that you currently live in or used to live in the home covered by the loan.