VA Home Loans Louisville KY

Broker House Lending Is A Veteran Owned & Operated Business

We are a Veteran owned and operated Mortgage Broker. So it goes without saying that we are experts when it comes to providing VA loans and knowing the ins and outs that our Veterans will be navigating when it comes to qualifying for a VA home loan.

You’ve served our nation in the time of need and you should take advantage of the many benefits extended to you in repayment for your sacrifices.

The Veterans Administration has a multitude of options available to veterans, we make it a point to be thoroughly acquainted with each and every aspect of getting you the absolute best options available for your given situation.
 

VA mortgage loans are one of the best and safest methods to use when buying a home. Now even active duty personnel can qualify. If you are a Disabled Veteran, you may qualify for additional benefits on a VA home mortgage loan. The VA Home Mortgage Program does not limit the number of times a veteran may use the program.

The VA mortgage loans extend to not only the Army, Navy, Air Force and Marines but also to Reservists and National Guardsmen.

The Veterans Benefit Act, signed recently increased the VA loan limit to $417,000 for a loan with no money down. It also increased the eligibility for Veterans and active duty personnel and increased the benefits to Disabled Veterans.


Some of the benefits of the VA Mortgage Loan Program are:

  • The VA Mortgage Loans is guaranteed for no money down up to $417,000
  • No monthly Home Owner’s Insurance is required
  • Many VA Mortgage Loans are assumable
  • It is easier to qualify for a VA Loan than a conventional loan
  • VA Mortgage Loans can be refinanced

No Money Down Up to $417,000

You do not have to put any money down to qualify for a VA Home Mortgage Loan for up to $417,000. If the seller agrees to pay the closing costs, you may be able to purchase the home with no out of pocket costs. The loan and sales contract can be set up so that the VA Home Mortgage Loan cover 100% of the selling price and the seller covers the closing cost.

The VA Funding Fee

The Veterans Administration assesses a Funding Fee to all VA loans between .5% and 3. In an FHA mortgage the customer must put at least 3.5% of the loan amount. The fee is added into the amount of the loan to be paid over the life of your VA home mortgage loan. The VA Funding Fee replaces the much higher priced Mortgage Insurance required when you get a conventional home loan. If you are a Disabled Veteran, you may qualify to get the fee waived completely.

Assumable VA Mortgage Loans

VA loans are also assumable. If the person assuming the mortgage is a veteran with VA eligibility, the original veteran will not be giving up the amount of eligibility that they used to get the loan at the beginning. Veterans should use great care and closely investigate the terms of an assumption before allowing someone to assume their mortgage. It is too great a benefit to give up.

Qualifying for a VA Mortgage Loan

The VA offers excellent qualifying standards. The VA does not use credit scoring in their analysis of the loan. Even if you have experienced some financial difficulties in your life that caused your scores to be low but have maintained a good payment record over the past year or so, you may qualify for a VA mortgage loan. This can be a tremendous savings compared to the cost of conventional loans when the borrower's credit scores are low.

VA Mortgage Loans may be refinanced

VA mortgage loans have built in features allowing a loan to be refinanced to a lower interest rate without all of the criteria normally associated with a conventional loan. This is called an Interest Rate Reduction Loan; the veteran can secure a lower interest rate without any credit checks, appraisal, and income or asset verification and can roll the costs of the transaction into the loan so there are no out of pocket costs.
 

To get started on purchasing a home

 

It’s easy! Pick up the phone and call us or fill out our CONTACT US form. We are a Veteran owned business and private mortgage broker. We know exactly where you’re coming from, because we’ve been there. We’ll schedule a time for us to meet and go over your current situation. We’ll discuss creating a game plan to get you where you want to be as a home owner.

It’s our great pleasure to help you through the home buying process. You will no doubt have a lot of questions and we’re here to answer them for you in an understandable and timely manner.

You payed your dues in service to our nation. Now let us help you realize the benefits that come along with it. If you don’t get started. You’ll never get there.

 
 

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Purchase

If you're like most people, purchasing a home is probably one of the biggest investments you'll ever make in your lifetime. If you're considering buying a home, you're likely aware of the complexity of the endeavor. 

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