VA LOANS

WHAT IS THE VA? The Department of Veterans Affairs Government regulated and endorsed Government guarantees portion of loan

The Department of Veterans Affairs

Government regulated and endorsed

Government guarantees portion of loan

WHO QUALIFIES FOR VA? Retired U.S. Veterans with Certificate of Eligibility Active Duty with proof of military service Ask us how your status may qualify you - National Guard/Reservists Unmarried surviving spouse of veteran deceased from service-related death

Retired U.S. Veterans with Certificate of Eligibility

Active Duty with proof of military service

Ask us how your status may qualify you - National Guard/Reservists

Unmarried surviving spouse of veteran deceased from service-related death

WHO CAN PROVIDE VA LOANS? Only Brokers/Lenders approved to provide VA Home Loans

Only Brokers/Lenders approved to provide VA Home Loans

VA UNDERWRITING Automated Underwriting Flexible Manual Underwriting Speedy underwriting process

Automated Underwriting

Flexible Manual Underwriting

Speedy underwriting process

CREDIT Rates are lower than Conventional No minimum score requirement for eligible veterans – 12 months of payment history Rate does not increase/decrease because of credit score Can be approved for VA 2 years after discharge of a Bankruptcy

Rates are lower than Conventional

No minimum score requirement for eligible veterans – 12 months of payment history

Rate does not increase/decrease because of credit score

Can be approved for VA 2 years after discharge of a Bankruptcy

VA loans are owner-occupied only – not for investment property unless you owner occupy 1-4 unit Buyer must occupy the property within 60 days of closing Remarried spouse of deceased veteran is NOT eligible Full Documentation loan requirements Funding fee is 2.15% 1 st use and 3.3% subsequent use can be added to mortgage

VA loans are owner-occupied only – not for investment property unless you owner occupy 1-4 unit

Buyer must occupy the property within 60 days of closing

Remarried spouse of deceased veteran is NOT eligible

Full Documentation loan requirements

Funding fee is 2.15% 1 st use and 3.3% subsequent use can be added to mortgage

Types of VA Loans 10-30 year fixed rate mortgages and adjustable rate mortgages available Eligible loan amount is the same as a conforming conventional loan-currently at 417K Properties that qualify: Single Family Homes, 1-4 Units, Town Homes, PUDS, Condos VA Purchase 100% LTV Refinance 90% LTV

10-30 year fixed rate mortgages and adjustable rate mortgages available

Eligible loan amount is the same as a conforming conventional loan-currently at 417K

Properties that qualify: Single Family Homes, 1-4 Units, Town Homes, PUDS, Condos

VA Purchase 100% LTV

Refinance 90% LTV

HOT FEATURES OF VA LOANS Interest rate buy down available All funds can be gifted No Monthly Mortgage Insurance No Down Payment – Zero Down Able to finance funding fees into the mortgage Funding fee may be waived for disabled Veteran May use non-veteran 2 nd party income to help qualify (only the veteran’s portion is secured)

Interest rate buy down available

All funds can be gifted

No Monthly Mortgage Insurance

No Down Payment – Zero Down

Able to finance funding fees into the mortgage

Funding fee may be waived for disabled Veteran

May use non-veteran 2 nd party income to help qualify (only the veteran’s portion is secured)

VENTURE DEVELOPMENT INC MINNESOTA MORTGAGE BROKER APPROVED TO PROVIDE VA HOME LOANS. VISIT OUR WEBSITE AT: WWW.VENTURELOANAPP.COM 952.285.4319 [email_address]

MINNESOTA MORTGAGE BROKER APPROVED TO PROVIDE VA HOME LOANS. VISIT OUR WEBSITE AT:

WWW.VENTURELOANAPP.COM

952.285.4319

[email_address]