Cedar City VA Loans
If you live in Cedar City and have served in the military, chances are that you have at least heard that VA loans are the most popular way to finance your house when you buy a home.
Many Veterans all across the Iron County area have chosen a VA loan because they were able to qualify for 100% financing (no down payment) and also didn’t have to pay mortgage insurance – either up front mortgage insurance or monthly mortgage insurance. One other reason that many Veterans have a bias toward the VA loan program is that when it comes time to refinance, it is easy to refinance the VA loan when needed with the VA streamline refinance program.
Cedar City VA Loan Highlights:
- 100% financing for new home purchases
- No mortgage insurance required
- No prepay penalty in any Arizona VA loan
- Arizona VA loans have similar closing costs to other loans, even though they offer 100% financing
- A one time funding fee is charged – but can rolled into the loan
Most Veterans know that the VA doesn’t actually lend the money for a VA mortgage, they only insure the loan. What this means is that to qualify for a VA loan, the Veteran will work with a lender and then once the lender agrees to provide the financing, the VA will insure the loan in the event of a default by the Veteran.
When getting qualified for a VA loan, the Veteran will need to provide a Certificate of Eligibility from the VA and it must be in the loan package in order to have the loan approved for a VA home loan. In the event that the Veteran is not able to find their COE, their loan officer should be able to help locate it fairly easily.
Cedar City VA Loan Expert
I am a VA loan expert and I am happy to answer any questions about VA loans that you may have. Contact me today for help in getting your VA loan closed – fast – or with any other questions that you have about VA loans.
