VA

Proud To Be a Lender to Our Veterans in Arizona

VA Endorsed lender in Arizona: We Process, Underwrite and Fund VA loans In-House right here in Arizona!

The VA Loan offers many special features:

• Zero down loans in Arizona to $417,000 

• VA Home Loans limit the closing costs a Veteran can pay 

• No Monthly Mortgage Insurance – keeps payments low!

• Seller contributions up to 4%

• No Prepayment Penalty

• No 90 day flip rule

• VA Loans are assumable (assuming buyer must qualify)

• VA offers assistance should the Veteran have problems making payments

Important information about the Funding Fee: VA Home Loans have a funding fee that can be financed in to the Purchase loan. Zero Down first time use for a purchase is 2.15% and subsequent use is 3.3% of the loan amount. This fee drops with a 5% or 10% down payment to 1.50% and 1.25% respectively. If the Veteran receives service-connected disability payments each month, they are exempt from the fee altogether. No monthly mortgage insurance is required. Possible higher fees required for Reserves/National Guard

 Frequently Asked Questions

Q: Can I use my VA benefits to purchase a second home or investment property?

A: VA Benefits can only be used to purchase a primary residence. The purchaser must certify that they intend to occupy the home as their primary residence and move in within 60 days. A spouse may satisfy occupancy if the Veteran is on active duty. A Veteran may, however, refinance a property that was originally purchased as a primary residence using VA benefits that has since become a rental property.

Q: Can a family member or other person who isn’t a Veteran be a co-borrower on a VA Home Loan to help them qualify?

A: No, VA generally only allows a spouse to be a non-Veteran co-borrower on a VA loan. Two non-spouse borrowers who are both VA eligible may be able to use shared benefits in obtaining VA financing together.

Q: You mentioned there are some fees that the Veteran is not allowed to pay on a VA Loan. What are these?

A: The most common fees that the Veteran is not allowed to pay is 1) escrow fee 2) Lender processing 3) Underwriting fees and 4) tax service. 

Q: What does it mean that a VA loan is assumable?

A: If a loan is assumable, it means that anyone looking to purchase the home in the future may be able to assume, or take over the loan. If rates have increased significantly from the time the selling Veteran purchased the property, they will have an advantage in that any qualifying Veteran looking to purchase their home may be able to assume the loan, including the interest rate on the loan. This can be a great selling feature where interest rates have increased.