Veterans Affairs (VA) loans are loans provided to active-duty military and veterans. These loans are guaranteed by the U.S. Department of Veteran Affairs. For those who qualify, VA loans are usually easier to obtain than conventional loans.
Active members of the military, veterans, and members of the National Guard qualify for VA loans. And, granted they do not remarry, spouses of deceased military members or veterans are also eligible for these types of loans, if the deceased spouse died while on active duty. There is no minimum credit score required to be eligible for a VA loan from the government, although some lenders may enforce one.
One benefit qualifying personnel receive when taking out a VA loan is the absence of a required down payment. While many other loans for homeowners in Orange County, Los Angeles, San Diego and Riverside counties require a certain amount of money set aside for a down payment, VA loans don’t require a down payment or even mortgage insurance.
Another benefit of taking out a VA loan is the assistance offered to those struggling to pay back the mortgage. The VA as an organization will step in and negotiate with a lender when the borrower is having trouble paying the loan payments.
Keep in mind, when choosing to take out a VA loan a one-time fee will still be required, the amount dependent upon the size of the loan and the type of veteran applying. Even though VA loans generally carry less costs than other types of loans, it is still good to keep this one-time fee in mind.
For further queries, please Contact Rene Ruiz today and find out if you qualify for a VA loan for your SoCal home!
Clear communication, a smooth process and great results. I felt well-supported and in good hands throughout. Being self-employed, obtaining any financing is a challenging process these days. However, my lender discussed a strategy and options for which I could prepare. The process went smoothly and I received guidance and support throughout. All questions and concerns were answered promptly and I was always treated with respect and courtesy. The loan exceeded expectations and fees were low.Sobrien la
Everything was very smooth and we feel the staff went above and beyond to obtain our loan!!!! Documents were presented to us in a very understandable way as well.newjanam
This is the second time I have refinanced with Rene. Both times Rene had worked relentlessly to help find me the best rate possible. This time he has actually exceeded my financial goal! He is pleasant, precise and explains everything clearly. He answers any question you might have in a timely manner if not immediately. I have recommended him to friends in the past and am happy to use this forum to recommend him to others!user746881
Rene was thorough, professional, knowledgeable and always willing to answer questions. He walked us through every step and we couldn’t be more pleased with his services. Recommend without hesitation.Jeff Frohner
This was my 2nd refi with Rene on my new home purchase within the past year. The goal was to lower the payment and get a low 4% rate on our loan. The process was quite easy and i would recommend Rene to a family or friend any time. Outstanding attention to detail and always quick to respond to my requests. Overall, Rene and his team met our refinancing needs very well! The entire process took approximately 3-4 weeks and we had a decent lender refund also.mmasero99
Rene was very helpful. He went over details and insisted we look at other loan options to make sure we had the information we needed. We were able to refi very quickly and are very happy with our new loan. The use of the internet made the sending and receiving necessary documents a breeze. Rene and his team were prompt helpful and fun to work with. I definitely recommend them for your Mortgage needs.user8001030
I had worked with Rene for the second time in refinancing my property. Rene is very knowlegable, helpful and responsive. He explains every detail of the refinance process. His whole team is awesome. I will recommend Rene to my friends and to anybody who is interested in refinancing their properties.koriyente
Rene was informative and laid out all of my options during my initial call about my refinance. He was willing to answer all of my questions & he wasn’t pushy.sbucher288
Best experience I have ever had in refinancing, Rene was all of the above and then some!!!. Always a pleasure working people as pleasant, helpful and knowledaable as Rene!gritone65
My wife and I purchased our home a little over two years ago and after a horrible experience we were hesitant to go through the process again. However our experience with Rene Ruiz was amazing! He was very clear and concise about how the process would take place. Most importantly we received what was quoted during our initial conversation! This refi went smooth and couldn’t have asked for a better result. Thank youzuser20140603000717611