Congrats Joel & Ashlee on your new home in Seattle – Seattle VA Home Loans

 Congrats Joel & Ashlee on your new home in Seattle – Seattle VA Home Loans

Joel was transferring down with the Coast Guard from Alaska and was searching around for a local lender that specialized in VA Home Loans.  Joel contacted us and after our initial phone conversation, we started with the pre-approval process.  Joel & Ashlee found this home on May 5th, 2014 and we closed on May 28th, 2014.

We were able to secure a VA 30 year fixed rate loan at 3.75% (4.096% APR) for their VA home loan.

Lyon House Pic

Looking for a local mortgage company based in Washington State that specializes in VA Home Loans, call 253-472-1500 or visit us online at www.vahomeloans.com.

VAMS Business Card

 

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VA Home Loans Puget Sound University Place WA – Mortgage Rates

applynowHolt PicThis beautiful home located in University Place just sold for $356,000.  

The buyers used their VA loan benefits and were able to secure a 30 year fixed rate loan at 3.75% (3.972 APR).  The entire VA home buying process took a little over a month to close from the time the purchase and sale agreement was signed to the closing of escrow.  Are you ready to get pre-approved for a VA Loan?  It’s a fast and easy process!
Call today, 253-472-1500

Looking for a local VA mortgage professional to assist with the financing of your new home?  Our lending partners pay our loan origination fees, saving you thousands off closing cost with our “lender paid” closing cost option.  Compare our rates to BECU, Wells Fargo, and Veterans United.  Feel free to call or visit our main website at www.VAHomeLoans.com Washington State’s #1 Source for VA Home Loans – Serving Military Members since 1996

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The Power of a Home!

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VA Home Loan FAQ’s in Washington State

FREQUENTLY ASKED QUESTIONS – VA Home Loans 

What Does Having Basic Entitlement of $36,000 Mean?

The $36,000 does not represent the maximum loan amount you can obtain through the VA Home Loan Program. The figure merely provides evidence to your lender that you have full VA entitlement. With this entitlement and underwriter approval, you can obtain a loan in an amount up to $417,000; some high cost counties have even higher limits.

Washington State 2014 VA Home Loan limits: http://vamortgagesource.com/new-va-loan-limits-in-washington-state-for-2014/

I Now Have My COE, What Do I Do Next?

Contact any VA approved lender and start the loan process. Do note that the COE does not guarantee you a VA loan; you still must qualify based upon your income and credit.

How Do I Apply For a Loan?

VA does not do any direct lending, and as such VA does not accept loan applications from veterans. You must contact a VA approved lender in order to apply for a VA loan. For more information about VA loans, visit www.benefits.va.gov/homeloans/.

How Do I Find a VA Approved Lender?

VA does not provide a list of approved lenders; it is up to the veteran to decide which lender they wish to use to obtain their loan. The Internet or real estate agents are ideal sources for locating and performing customer satisfaction research on VA lenders.

What is the VA Interest Rate?

VA does not establish interest rates or closing costs for VA loans. Rates are negotiable between you and your lender. It is advisable to obtain quotes from at least three different lenders.

What is the Minimum Credit Score Required for a VA loan?

VA has no minimum credit score requirement. However, the lender you choose to do business with may have such a requirement.

What Types of Property Does My COE Cover?

The VA Home Loan program guarantees loans for real property that is to be used by the veteran as a primary residence. The program does not cover vacation homes, vacant land, multiplexes in excess of four units, motor homes, small business loans, or commercial buildings.

Can I Use My VA Entitlement to Refinance?

Yes. You can refinance any type of loan on your property using your VA entitlement. Contact a VA approved lender for details.

Why Does My COE Reflect a Paid-in-Full Loan With No Restoration of Entitlement? 

In order for entitlement to be restored, the prior VA loan must be paid in full and the property disposed of. If you no longer own the property, please state as such on your application form 26-1880 and resubmit. Do note that you can obtain a restoration of entitlement without disposing of the property when the loan is paid in full on a one time basis.

VA People Logo2For additional information about the VA home loan program in Washington State, call Kevin Tinsley at VAHomeLoans.com 253-472-1500 or email at kevin@vahomeloans.com.

 

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Congrats Sidney & Anne on your VA 100% Cash Out Refinance in Washington State

Congrats Sidney & Anne on your VA 100% Cash Out Refinance in Washington State!

Sidney and Anne were searching online for a local Washington State based VA mortgage company that could assist with a higher loan to value VA cash out refinance.  The lender they started with was limited to 90% loan to value.  They were paying off a Bank of America mortgage on another property and needed the additional funds to accomplish their goals.  Taking just a little over 30 days, we closed and they were able to consolidate these debts.

Looking for a local VA mortgage expert, right here in Washington State with over 27 years of mortgage lending experience to help you?

VAHomeLoans.com - All Tech Mortgage Inc. Your Washington State VA Home Loan Experts since 1996.  Locally based in Tacoma, WA (near Joint Base Lewis McChord) we are proud to serve our active duty and retired military members with their VA home loan needs. By focusing exclusively on VA loans, we offer a streamline loan process form pre-approval to closing. Plus our VA Mortgage Rates are typically .25-.50% lower than most National, Regional and local VA lenders.  We offer true wholesale pricing from some of the top VA mortgage lenders in the country.  Take the first step and contact us today to learn more about your VA Home Loan benefits.  

Address & Driving Directions:
VAHomeLoans.com – Proud to Serve, You!
7403 Lakewood Dr W, STE 2, Lakewood, WA 98499

Voice: 253-472-1500
Fax: 866-421-1788

Email: kevin@vahomeloans.com

 

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Need a quote for a VA Home Loan in Washington State?

VA Home Loan Rates are still near all time lows. Visit our website for up to date current VA Home Loan pricing.  Ask for a no-risk quote to compare our rates and fees with your bank or mortgage company.  It’s pays to shop around…VA loan rates and closing costs DO vary from bank to bank. www.VAHomeLoans.com
Our VA Lenders Pay Our Fees, Saving You Thousands!

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Searching for VA Purchase, VA IRRRL or VA Cash-Out Home Loan Rates in Tacoma, Lakewood, JBLM – Joint Base Lewis McChord, Seattle, DuPont, Everett, Silverdale, Lacey, Olympia, Gig Harbor, Puyallup, Spanaway, Kirkland, Issaquah, Snohomish, Bremerton, Bellevue, Kent or Auburn? We offer some of the lowest VA Home Loan Rates in Washington State.

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Washington State VA Appraisal Fee Schedule 2014

va appraisal fee scheduleFor more information on the VA Home Loan Program in Washington State, please visit our website at www.vahomeloans.com Washington State’s #1 Source for VA Home Loan Information.

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What to look for on your Certificate of Eligibility or COE

Getting a VA home loan will require you to obtain a Certificate of Eligibility or COE.  As an approved mortgage company with VA, we have access to the VA portal and can assist you with getting your COE.  Once you have it, here’s an explanation of how to read it and what the codes mean.

A = Entitlement Code (see chart below)
B = Funding Fee – You will see either Exempt or Non Exempt (see chart below) to determine funding fee amount.  If you receive 10% or more in VA disability, you should receive a COE with Exempt.  If not, you lender can fax to the nearest VA office and update your funding fee status by fax.
C = This will show if you have any remaining entitlement left – even if it shows 0, you still may have bonus entitlement left to use on another home.
D = Total amount of entitlement charged on previous use – this will us determine how much partial entitlement you have left if you have previously used your VA benefits.
E = As referenced in A, Code 11 stands for Reserve/National Guard – This is subject to a higher funding fee than active duty benefits.  See chart below.  On subsequent use, the reserve and active duty zero down VA funding fee rates are the same.
F = Subsequent Use Funding Fee Notice – See chart below to determine amount.  Putting a 5% or more down payment will greatly reduce your subsequent use VA funding fee.
G = Funding Fee Exemption – this will also show how much you are receiving in VA disability benefits per month.

Sample COE vahomeloans.com

Entitlement Codes:

Entitlement Code Code Meaning
01 World War II
02 Korean War
03 Post Korean War
04 Vietnam War
05 Entitlement Restored
06 Un-remarried Surviving Spouse
07 Souse of POW/MIA
08 Post World War II
09 Post-Vietnam
10 Gulf War
11 Selected Reserves

Purchase or Construction Loans

Type of Veteran Down Payment First Time Use Add’l Uses
Regular Military None 2.15% 3.3% *
5% to 9.9% 1.5% 1.5%
10% or more 1.25% 1.25%
Reserves or
Nat’l Guard
None 2.4% 3.3% *
5% to 9.9% 1.75% 1.75%
10% or more 1.5% 1.5%

Cash-Out Refinancing Loans

Type of Veteran First Time Use Add’l Uses
Regular Military 2.15% 3.3% *
Reserves or Nat’l Guard 2.4% 3.3% *

* – If the first time use was for a manufactured home,
the veteran can use the “first time use” column to calculate.

Other Loan Types

Type of Loan Percentage
Streamline (IRRRL) Loan 0.5%
Manufactured Home 1.0%
Loan Assumptions 0.5%

For additional information on the VA Home Loan program for Washington State, Call Washington State’s #1 Source for VA loans at 253-472-1500 or visit us online at www.vahomeloans.com Proud to Serve, You!

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5 Things Not To Do During the Closing Process! VA Loans Seattle Tacoma

5 Things

Posted in Bank of American VA loans, BECU VA Loans, Puget Sound VA Loans, Seattle Mortgage Company, Seattle Mortgage Rates, Seattle VA Lenders, Seattle VA Mortgage Rates, Tacoma VA Mortgage Rates, USAA VA Loans, VA Home Loans, VA Home Loans BECU, VA IRRRL Wells Fargo, VA Loan Bremerton, VA Loan Seattle, VA Loans, VA Loans DuPont, VA Loans Federal Way, VA Loans Lacey, VA Loans Lakewood, VA Loans Ocwen, VA Loans Olympia, VA Loans Olympia. WA, VA Loans Puyallup, VA Loans Tacoma, Veterans United Home Loans, Washington State VA Loans, Wells Fargo VA Loans | Leave a comment

Thinking about buying a home in Seattle using your VA Home Loan Benefits?

Thinking about buying a home in Seattle using your VA Home Loan Benefits?  Here’s a list of things that you need to know before you start.

1. What do I need to get approved for a VA Home Loan?  First let’s start dupont home values webistewith collecting the documents you will need to apply for VA loan.  Plan on supplying copies of you last months worth or paycheck stubs (usually the last2), 2 months worth of bank statements (all pages), 2 years worth of W2 forms, Copy of your driver’s license, and copy of your social security card.   Once the underwriter reviews these, they may ask for additional items if you have a large non payroll deposit on your bank statement or an additional clarification from your employer if you income as dropped from previous years, or if your year to date earnings are less than your hourly wage times the  number of hours you work per week.

2. What comes first, buying the home or getting pre-approval?  It’s best to start the conversation with a mortgage professional experienced with VA loan before you begin your home search.  Usually this initial conversation will uncover a few details that will make the transaction go smoothly over the next few weeks.  When your loan officer reviews the items listed in question #1, most of the “things” that can pop up in a real estate transaction are uncovered and you have a chance to clear them up before you purchase the home.

3. Is there any other money due when I close on my new home?  VA home loans do not require a down payment, but you will have closing cost associated with your home purchase.  You may choose to pay these yourself or negotiate with the seller to have them included as part of the purchase price.  Always make a call to your loan officer before signing your purchase contract to make sure you have the appropriate amount of closing costs included with your offer.

4. Do I need to get a home inspection? Keep in mind a home inspection is different from a VA home appraisal.  The home inspection will be a 2-3 hour inspection (you typically attend) where the inspector will inspect, test and determine if all the systems in the home are working properly.  VA does not require you to obtain a home inspection, but the information uncovered here will be very helpful in determining what future repair costs you can expect to pay.  The VA appraisal is a report prepared by an appraiser assigned by the VA to determine market value of the home you are buying.  It’s usually a 30-45 minute inspection (you typically do not attend) to determine if the home meets VA’s minimum property standards.  The home inspection will run approximately $300-$450 and the appraisal around $500.00.

For more information on the VA home loan program in Washington State, call the local VA mortgage experts at 253-472-1500 or visit our main website at www.vahomeloans.com

Proud to Serve, You!

VAHomeLoans.com - All Tech Mortgage Inc. Your Washington State VA Home Loan Experts since 1996.  Locally based in Tacoma, WA (near Joint Base Lewis McChord) we are proud to serve our active duty and retired military members with their VA home loan needs. By focusing exclusively on VA loans, we offer a streamline loan process form pre-approval to closing. Plus our VA Mortgage Rates are typically .25-.50% lower than most National, Regional and local VA lenders.  We offer true wholesale pricing from some of the top VA mortgage lenders in the country.  Take the first step and contact us today to learn more about your VA Home Loan benefits.  

  

VAHomeLoans.com – Proud to Serve, You!
7403 Lakewood Dr W, STE 2,
Lakewood, WA 98499

Voice: 253-472-1500
Fax: 866-421-1788

Email: kevin@vahomeloans.com

Posted in BECU VA Loans, Seattle Mortgage Company, Seattle Mortgage Rates, Seattle Refinance, Seattle VA Mortgage Rates, Tacoma VA Mortgage Rates, USAA VA Loans, VA Home Loans, VA Home Loans BECU, VA Loan Seattle, VA Loans Tacoma, Veterans United VA Loans, Washington State VA Loans, Wells Fargo VA Loans | Leave a comment