Get Your VA Home Loan in Las Vegas
Qualifying for a Veteran’s Administration home loan better known as VA Home Loans is a big perk many service members take advantage of to buy or refinance their home. Va Home loans have the best terms in comparison with most loans in the industry and are a true Zero Down Loan Program.
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Qualify for a VA Home Loan
One of the major pluses to qualifying for a VA Home Loan is you usually do not have to have money for a down payment as long as the home is within county loan limits. Va loans have the lowest interest rates of all programs and no mortgage insurance EVER!
In Nevada, that means you can borrow for a mortgage of up to $484,350 and in 2020 the limit will be removed. In most cases, a minimum credit score of 580 or higher is needed for a Las Vegas VA loan, and since they are underwritten by the Department of Veteran’s Affairs, the loans do not require mortgage insurance. Most Veterans don’t know they can have more that one VA loan at a time.
VA benefits for writing a home mortgage are available to active, retired, previous and certain familial relations to service personnel. It is a great way to get a low interest, zero down loan on your dream home. VA Loans do still have some closing costs involved and in many cases, your Mortgage Broker can recommend a trusted Realtor that can help you negotiate for the seller to pay some if not all of the closing costs for you. Closing costs can also be financed into your loan if needed.
We Specialize in Fast Processing of Las Vegas VA Mortgage
The steps to apply and get approved for a VA loan are not as complicated as many people believe. After contacting a mortgage broker or lender, they will ask some basic questions to see if you are qualified for a VA home loan in Las Vegas NV. They will ask for information about service connection, income, and other financial data. The pre-approval process helps with the actual application, and they will let you know what paperwork needs to be in your possession to start the application process which usually can be started online or over the phone. Once you provide the mortgage broker with the documentation needed and it is submitted, you will get a letter outlining any other documents needed and the next steps to take. Once the pre-approval letter is in hand you can start house hunting.
VA Loans Las Vegas Are A Great Way to Buy Your First Home
Most VA loans require that homes be inspected and appraised prior to closing. There are threshold conditions that are set by the government that the property has to meet which helps to protect our Veteran buyers. Once you find a house you want to make an offer on, the loan process proceeds with an underwriter verifying all the documentation as well as the home appraisal. The process takes roughly the same time as a conventional mortgage from start to finish.
Call us at PIF, the best mortgage company, or send in our contact form with some basic information about your service-connected status, and let us know how soon you plan to look for a home. We will contact you to set up a convenient appointment time to help you start the VA loan process for your new home purchase, or to refinance your current home.