Maryland VA Mortgage Loans

Maryland VA Mortgage Loans

Many veterans in Maryland are aware that the VA home loan is a popular way to finance a home. Getting a VA loan in Maryland to finance a home means that not only will you not have to pay monthly mortgage insurance, but you also can finance up to 100% of the property value. VA loans are popular because they are not only great when purchasing a home, but also when it comes time to refinance. The VA streamline refinance program is one of the easiest refinance programs available.

Most people are aware that the VA isn’t the investor or lender on your loan, they act as an insurer in the case of default. In the event of a default on a VA loan, the VA insures the lender against loss. Because the VA insures against default, many lenders are eager to loan money under the VA loan programs.

Maryland VA Loan Highlights

• With VA loans, all closing costs can be rolled into the loan
• No prepay penalty on VA loans
• Mortgage insurance is not required on VA loans
• A one-time funding fee is charged on a VA loan
• Possible to finance up to 100% of a home’s appraised value

Maryland VA Loan Certificate of Eligibility

To qualify for a VA loan, you must first prove that you are eligible. In order to prove that you are eligible for the VA loan program, you will need to have a Certificate of Eligibility from the VA and it must be presented to the lender at the time of your application. If you don’t currently have a Certificate of Eligibility or need help obtaining your certificate, you can contact us directly for help.

Maryland VA Streamline Refinance Program

For veterans who are currently in a VA loan, the VA streamline refinance program allows you to take advantage of lower interest rates without having to completely re-qualify for a new loan. When you do a VA streamline refinance, there are no out of pocket expenses – which is only one more reason that it is easy to do. There really isn’t an easier refinance program available today than the VA IRRRL streamline refinance.

Maryland VA Mortgage Loan Experts: Contact Us

To find out if the VA loan program is right for you, be sure to contact one of our Maryland VA loan experts. We are happy to work with you to find answers to any questions that you may have.