Everyone would agree that serving our nation is one of the most heroic things a person can do. Being in the military is not an easy feat as it means being away from home, taking risks, and making tough choices for the benefit and protection of the country. It is the top reason why the government, with full support from the citizens of the United States of America, passed a law that puts veterans’ best interests first. The Department of Veterans Affairs offers VA loans for people who had served in the military as well as to those who serve in the Reserves or Guard. If you’re a veteran who is having troubles establishing a stable life, learn how a VA loan in Oceanside, California, can help turn your life around.
The moment you begin your search for mortgage companies that offer home loans, you might get overwhelmed with the variety of loan options. VA loans come with various rates and benefits. Unfortunately, you have to be aware that they come with hidden risks as well. At this point, you might agree that you can’t afford to make the wrong decision. It is for this reason that you must seek the help of a trusted mortgage company in Oceanside.
VA loans do not originate solely from the United States Department of Veterans Affairs. Instead, they come from VA-approved lenders, such as banks and other firms, located in the state where the borrower resides. In your case, Oceanside, California. Since the Department of Veterans Affairs backs up the loan, this guarantees the private lenders against total forfeiture in case the borrower or buyer fails to provide sufficient funds.
1. Once you have obtained a certificate of eligibility, you can apply for a VA loan in Oceanside. However, you have first to undergo pre-qualifications. It is the primary step wherein you’ll get an estimate of how much you can afford based on financial factors such as your income, entitlement, credit, and others.
2. If you managed to get a preapproval, the real action begins. Prospective lenders will work on verifying your financial situation. Of course, they need to determine your capability to repay and purchasing power. If your financial information is good enough, they will provide you with a letter that you can use to prove that you’re a serious and robust buyer.
3. Next, it’s time to put in your offer with a trusted VA loan agent who can help you with the ins and outs of contract negotiation. After agreeing upon a deal, your VA lender will order an appraisal of your desired property. The necessary documents will undergo preparations, and then you’ll be a step away from loan closing. Upon finalizing the deal and sealing it with your signature, it’s time to grab the keys to your new home!
People are always in search of mortgage companies in Oceanside that provide affordable loans. Well, you don’t have to endure a rough trial and error method! Connect directly with Severino Financial in Vista, California, a company that offers VA loans with low-interest rates, fast services, and much more.
Here are the advantages of VA loans offered by Severino Financial:
It is a well-known fact that most home loans, conventional or not, require you to pay a small amount as a down payment to purchase a home. However, the VA loan is an exception. You can buy a home without spending even a single dime up front since VA loans can finance your purchase price up to 100 percent.
The federal government assures that a part of your loan will be covered if you, for any reason, are not able to pay your monthly payment.
Since VA loans come without mortgage insurance, you are not required to make any extra payments. The federal government guarantees the loan, so the lender is financially-protected in the event you fail to cover your dues.
As with any other conventional loans, VA loans come with adjustable or fixed rates. Whether you want to purchase a house, condo, manufactured home, or any other type of property, it’s entirely up to you. Moreover, it can be utilized to refinance your current mortgage.
Since VA loans are flexible, you can look for VA-approved lenders through trusted mortgage companies. Also, VA loans are offered by savings-and-loans institutions, mortgage lenders, and banks. Each lender sets its own VA loan terms and fees. These varying details make it important for you to worth with us to choose and compare loan offers that work best with your financial situation.
Severino Financial offers a myriad of loan options for your mortgage. Our president, Mike Severino, is a top-notch mortgage broker with more than 30 years of experience. Our firm is one of the trusted mortgage companies in Vista, California, and we ensure that you will receive no less than the best options and rates in the loan market. Contact us at 760-598-9366 or visit our office located at 2605 Companero Ave., Vista, California.