Administration guaranteed home loans:
Your source for Oklahoma
Veterans VA home mortgage loans. If you are a US Veteran, we can
- No money
down 100% financing available for veterans.
credit history is considered
- Seller may
contribute up to 6% toward the closing costs.
must have certificate of eligibility from the Veterans Administration
An Oklahoma VA home
mortgage loan is a great choice for those who have served our
country. They are very attractive because allow some flexibilty
other programs can not provide. It is not uncommon for veterans
to buy their homes with no money down and it
is the VA loan program that makes this easy to do. The VA also
guarantees the lender on the loan. This means veterans do not
need to pay for private mortgage insurance (PMI). Closing costs
can also be reduced with this program.
guaranteed home mortgage loans are made by private lenders,
such as banks, savings & loans, or mortgage companies to eligible
veterans for the purchase of a home which must be for their own
personal occupancy. The guaranty means the lender is protected
against loss if you or a later owner fail to repay the loan. The
guaranty replaces the protection the lender normally receives
by requiring a down payment allowing you to obtain favorable financing
In addition to the
benefits found in above, the Veterans also have some great
refinancing options.The Interest Rate Reduction Loan (IRRL)
makes refinancing your VA loan easy and affordable.
- Get a lower
- No appraisal
- No income
or credit check to qualify
- Cash out
- Don't need
to pay up front (closing cost can roll into the new loan)
VA guaranteed loans
are made by private lenders, such as banks, savings & loans,
or mortgage companies to eligible veterans for the purchase of
a home which must be for their own personal occupancy. The guaranty
means the lender is protected against loss if you or a later owner
fail to repay the loan. The guaranty replaces the protection the
lender normally receives by requiring a down payment allowing
you to obtain favorable financing terms.
Here is how the process
1. Select a home and
discuss the purchase with the seller or selling agent. Sign a
purchase contract conditioned on approval.
2. Call us and present us with your Certificate of Eligibility
and complete a loan application.
3. We will develop all credit and income information. We will
also request VA to assign a licensed appraiser to determine the
reasonable value for the property. A Certificate of Reasonable
Value will be issued. Note: You may be required to pay for the
credit report and appraisal unless the seller agrees to pay.
4. We will let you know the decision on the loan. You should be
approved if the established value and your credit and income are
5. You (and spouse) attend the loan closing. We or closing attorney
will explain the loan terms and requirements as well as where
and how to make the monthly payments. Sign the note, mortgage,
and other related papers.
6. The loan is sent to for guaranty. Your Certificate of Eligibility
is annotated to reflect the use of entitlement and returned to
You certainly have
many choices when choosing a lender for your mortgage loan. We
assist you in simplifying the process. Put our experience and
our knowledge to work for you.
As professionals in
the mortgage lending industry, we have built our reputation on
providing outstanding service to our clients. That means you can
count on us to always look out for your best interests, and to
keep you informed throughout every step of the lending process.
If you would like more
information or have any questions, please give us a call at 808.357.5326