About VA Guaranteed Home Loans

The VA doesn't actually make loans, they guaranty them by backing them with a protection against loss to the lenders that make the loans. This is why veterans can purchase a home for $0 down and still have no mortgage insurance.

The VA guaranteed loan does come at a cost in the form of a "funding fee". The VA collects this fee on all of their loans, this fee is then added to VA's reserves and helps to offset the cost in the event that a veteran has a home foreclosed on.

Vets with a service related disability are exempt from paying any funding fees.

Fee's Associated with VA Guaranteed Loans

  • Funding Fee: From .50% to 3.60% depending on Purchase or Refi
  • Appraisal: Currently $600, fee is set by VA
  • ​Pest Inspection: This fee is mandatory but usually paid for by the seller
  • Property Taxes and Home Owners Insurance: Varies based on location
  • ​Impound Accounts: These are "savings" accounts set up for property taxes and home owner insurance
  • ​Loan Fees: The MAX allowable by VA is 1%, this includes charges for Title, Escrow and Lender.

Benefits of using a VA Guaranteed Loans

  • Zero Down Payment: Reduced funding fee if putting at least 5% down
  • NO Mortgage Insurance
  • ​Lower Rates: Because these loans are guaranteed, rates are usually lowest
  • Low FICO Scores: Borrowers with scores in the 500's may get financing
  • No Maximum Loan Amounts: The VA will guarantee any loan amount. The MAX loan amount is based on the borrowers abilty to qualify

Would you like to see if you qualify for a VA Guaranteed Loan ?

We've simplified the process so you can getting an initial pre-qualification in 2 easy steps, without Pulling Your Credit !

Simply fill out the forms below

We'll process the information that you supply us and will let you know if you may qualify based on that information... SUPER EASY !

STEP 1

Figuring Your Debt to Income Ratio

What is a Debt to Income Ratio?

The debt to income ratio (known as DTI) is a number lenders use to determine how much money is available to pay monthly bills

The chart shows what items are included in a Debt to Income Ratio

Things such as food, utilities, fuel, cell phones and recreational spending are NOT part of the debt to income ratio

The debt to income ratio (known as DTI) is a number lenders use to determine how much money is available to pay monthly bills

The chart shows what items are included in a Debt to Income Ratio

Things such as food, utilities, fuel, cell phones and recreational spending are NOT part of the debt to income ratio

Figuring your Debt to Income Ratio SIMPLIFIED

Income - this is before taxes
Monthly credit card payments
Car payments
Student Loan Payments
"Other" Loan Payments
Alimony/Child Support Payments

STEP 2

Home Loan Pre-Qualifier
NO Credit Check
How much will you spend on a home?
How much are you putting down?
Do you have a service related disability ?
Loan Term in Years
Fixed rate or adjustable?
What Type of home are you buying?
How will you occupy the home?
Where is the home located?
How is your credit?
When Are you wanting to buy ?
The Quote will be sent by the next business day via text message and email
We promise not to spam or in any way harass you, we dislike that just as much as you do.

What others are saying...

" Ryan and his team are a top notch group they help me in several different ways from repairing my credit to purchasing a home. If it wasn't for his group I probably would still be renting a home "

~ Patrick Berg

"Ryan was referred by a good friend so I called him, and I'm glad I did! Everything seemed to flow flawlessly, from learning about the home buying process, to quickly getting a home loan approval. Super Awesome Experience!"

~ Libby L

"We were quickly approved for a home loan and Ryan helped us focus on our goals. His guidance led us to the perfect one, right down to the sunsets we wanted. He's a great person, we're blessed"

~ Julie P

"Ryan is awesome! He tells you like it is and is very knowledgeable in the Real Estate game. If he tells you it can be done, believe it!"

~ Caroline C

Copyright 2021 -  Grace Mortgage LLC - All Rights Reserved
Grace Mortgage LLC   NMLS ID 2271494  |  909-781-4001
Licensed by the Arizona Department of Financial Institutions, License #MB- 1030403

Ryan Mihld  NMLS ID 1492562, also licensed by the California Dept Of Real Estate #01501609

Equal Housing Lender. Cost and fees may vary. Information is subject to change without notice. This is not an offer for extension of credit or a commitment to lend. All loans subject to credit approval and secured by real estate. 
We are not a certified financial planners/advisors, nor certified financial analyst, nor economist, nor CPA, nor accountant, nor a lawyer. We're not finance professionals through formal education. 
This information is not intended to be an indication of loan qualification, loan approval or commitment to lend. Other limitations may apply.
Grace Mortgage LLC  |  20597 W Garden St  Buckeye, AZ 95396