Mortgage Headquarters is your leading lender at the Lake of the Ozarks. Our team of skilled and knowledgeable mortgage lenders are experienced in VA loans in the lake area. Tackling the loan process can be challenging enough, you want the expertise of MHQ on your side to ensure a smooth transaction. VA loans and all the myths surrounding this type of loan are confusing to many, we at Mortgage Headquarters pride ourselves in knowing the facts. Here are some of the biggest myths we hear in the mortgage loan industry.
LETS TALK MYTHS
Myth #1 – VA loans take entirely too long!
FACT: It does not take any longer to process a VA loan than a conventional or other government loan. The key to a smooth VA loan process is a knowledgeable lender.
Myth #2 – VA loans cost more than other loan programs.
FACT: When you crunch the numbers, many times a VA loan can be less expensive than alternative loan options. There is no PMI or mortgage insurance on a VA loan and the one-time funding fee can be financed into the loan. Some members of the military qualify to have the VA funding fee waived. Your VA Certificate of Eligibility indicates if you do need to pay a funding fee and if so how much or if the fee is waived.
Myth #3 – VA eligibility can only be used only once.
FACT: You can use your VA eligibility several times throughout your life. All guidelines are outline on the U.S. Department of Veterans Affairs website.
Myth #4 – You can only have one VA loan at a time.
FACT: You can have multiple VA loans at one time. There are many different situations where this would apply. We recommend contacting Mortgage Headquarters to discuss your specific scenario.
Myth #5 – Widows or widowers are not eligible.
FACT: Surviving spouses of fallen veterans who have died while on active duty or as a result of a service-related disability may be eligible for a VA loan.
Myth #6 – VA loans are too difficult to obtain.
FACT: In many situations a VA loan can be easier to obtain that other loans. With the VA guarantee and guidelines made specifically for those who have served, it can be an easier option for some home buyers when other programs are not feasible.
Myth #7 – Appraisals and home inspections are harder than other financing.
FACT: VA Appraisals and home inspections may have more boxes they want checked, but this is all to protect you and the biggest investment you will make. It is not harder; it is more thorough.
Myth #8 – You are required to have a paper copy of your Certificate of Eligibility.
FACT: Back in the day that was a requirement, but many years ago the VA placed all eligibility online. It can take seconds to
determine your eligibility at any time.
Navigating the home buying process can seem overwhelming, but Mortgage Headquarters is here to make it as simple as possible for you and your family. VA Loan or any of the many other loan programs we offer, Mortgage Headquarters has the fastest mortgage loan closing at the Lake of the Ozarks and the experience & knowledge to help make it happen.
You name it, Mortgage Headquarters can do it! As a mortgage loan expert in the Lake of the Ozarks area one of our knowledge loan professionals can help you through the entire home buying process. Every step of the way we will be there to answer your questions, keep your loan process on track and support you to ensure the best home buying experience. When you get the keys to your new home it should be one of the happiest days of your life and Mortgage Headquarters strives to ensure it happens.
Comments
Post a Comment