VA Loan
A VA loan is perhaps the most powerful and flexible lending option on the market today. Rather than issue loans, the VA instead pledges to repay about a quarter of every loan it guarantees in the unlikely event the borrower defaults. That guarantee gives VA-approved lenders greater protection when lending to military borrowers and often leads to highly competitive rates and terms for qualified veterans.
Benefits of VA Loans
Far and away, the most significant benefit of a VA loan is the borrower's ability to purchase with no money down. Apart from the government's UDSA's Rural Development home loan and Fannie Mae's Home Path, it's all but impossible to find a lending option today that provides borrowers with 100 percent financing.VA loans also come with less stringent underwriting standards and requirements than conventional loans. In fact, about 80 percent of VA borrowers could not have qualified for a conventional loan. These loans also come with no private mortgage insurance (PMI), a monthly expense that conventional borrowers are required to pay unless they put down at least 20 percent of the loan amount.
VA loans offer a few other bells and whistles:
Competitive interest rates that are routinely lower than conventional rates
No prepayment penalties
Higher allowable debt-to-income ratios than for many other loans
Streamlined refinancing loans that require no additional underwriting
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Our happy Clients
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"This refinance went very well. It was completed in less time than prior refinances and the ability to do much of the paperwork on line definitely made it easier. In particular, the use of email allowed questions to be posed and answered at any time and documents submitted concurrently resulted in issues being resolved quicker and the process advanced faster."
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"Great and quick process. They were able to quickly help me refinance with no hassles or issues. I look forward to using them again.Response from Your Mortgage Shop Thank you for your review and the opportunity to work with you again Mr. Fleishman. It was our pleasure to work with you. Referral is a very big part of our business that allows us to provide creative loans with affordable fees and the best rates in the industry, so please spread the word to your friends, colleagues and family. it will be greatly appreciated when they see how much we can save them."
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"I recently refinanced my mortgage with Your Mortgage Shop. The experience was very easy and the whole experience was pleasant. Not only did they reduce my rate considerably, the whole process went down pretty quickly compared to previous re-fi experiences. The loan officer was responsive and very helpful in reducing my mortgage rate and payment. I would highly recommend Your Mortgage Shop to anyone looking for a professional mortgage broker company."