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- Video: Veteran Mortgage ~ Purchase & Cash-Out Refinance Home Loans
- About the VA Home Loan Guaranty
- The VA Home Loan
- The VA guarantee provides more favorable terms.
- No down payment if sales price doesn’t exceed appraised value.
- No private mortgage insurance premium requirement.
- VA rules limit the amount you can be charged for closing costs.
- Closing costs may be paid by the seller.
- The lender can’t charge you a penalty fee if you pay the loan off early.
- VA assistance if you run into difficulty making payments.
- You don’t have to be a first-time homebuyer.
- You can reuse the benefit.
- VA-backed loans are assumable, for qualified borrowers.
- The VA Home Loan
- Video: Homes for Heroes® Program
- Our Heroes Promise:
Video: Veteran Mortgage ~ Purchase & Cash-Out Refinance Home Loans
With a Veteran Mortgage Purchase Loan, the Veterans Administration can help you purchase a home at a competitive interest rate, and if you have found it difficult to find other financing. The Veterans Administraion’s Cash-Out Refinance Veterans Mortgage is for homeowners who want to take cash out of your home equity to take care of concern like paying off debt, funding school, or making home improvements. The Cash-Out Refinance Loan can also be used to refinance a non-VA loan into a VA loan. VA will guaranty loans up to 100% of the value of your home.
About the VA Home Loan Guaranty
Most VA Home Loans are handled entirely by private lenders and VA rarely gets involved in the loan approval process. VA “stands behind” the loan by guaranteeing a portion of it. If something goes wrong and you can’t make the payments anymore, the lending institution can come to us to cover any losses they might incur. The VA loan guaranty is the “insurance” that we provide the lender.
The VA Home Loan
Video: Homes for Heroes® Program
What is this program about?
Homes for Heroes® provides real savings and rewards for heroes who work every day to make our communities safer and better places to live. Homes for Heroes is a network of real estate professionals who are prepared to give real savings to those who serve their communities, when they buy, sell or refinance a home. This program is our way to say Thank You!
Who qualifies as a hero?
Our core group of heroes are military (active and retired), police officers, firefighters, educators and healthcare workers. If you think you might qualify tell us what you do for your community. When you are buying, selling or refinancing a home, let us say thank you for all you do!
How much will I save with a Homes for Heroes® Realtor®?
The total amount you save will depend on the final selling or buying price of your home. Homes for Heroes affiliate Realtors® agree to a rebate equal to 25% of the gross commission they receive on your transaction. An agent is typically paid a commission of between 2% – 3% of the purchase/selling price of the home. Assuming, your agent receives the full 3% commission, here is an example of what your savings could look like:
How much will I save with Broadview Mortgage?
Most lenders in the Homes for Heroes Network provide discounted lender fees on purchases and refinances. Broadview Mortgage has established a program that covers the cost of your Home Valuation (Appraisal), and up to $1,475. in credit towards lender closing costs. That is nearly $2,000. in additional savings* on your new mortgage.
Do I have to use all of your affiliates to receive the savings?
The rebates and savings offered through the Homes for Heroes program come directly from our Realtor® and lender affiliates. You can take advantage of either the lending discounts, the Realtor rebates or both!
Are there a lot of extra applications, forms and paperwork?
No! Register at HomesForHeroes.com and we will take care of directing you to our affiliated real estate professionals.
Our Heroes Promise: