VA LOANS


Designed to offer long-term financing to American veterans, VA mortgage loans are issued by federally qualified lenders and are guaranteed by the U.S. Veterans Administration. The VA determines eligibility and issues a certificate to qualifying applicants to submit to their mortgage lender of choice. It is generally easier to qualify for a VA loan than conventional loans.

Here's how it works:

• 100% financing without private mortgage insurance or 20% second mortgage.
• Generally easier to qualify for a VA loan than a conventional loan.
• A VA funding fee of 0 to 3.3% (this fee may be financed) of the loan amount is paid to the VA.  This fee is waived for qualifying service disabled veterans.
• When purchasing a home veterans may borrow up to 100% of the sales price or reasonable value of the home, whichever is less.  The funding fee is rolled into the loan.
• When refinancing a home, veterans may borrow up to 90% of reasonable value in order to refinance where state law allows.

Advent Mortgage is an experienced VA Qualified Lender.