VA loans are available to United States Veterans and their spouses and are guaranteed through the U.S. Department of Veterans’ Affairs. Qualified lenders began issuing these loans in 1944 and they have helped over 18 million veterans purchase or refinance homes. The team at Oceanside Mortgage knows we can never fully thank our veterans for the sacrificed they make. We can, however, give back as much as we can. That is why we offer the lowest rates possible on VA Purchase Loans, VA Cash Out Refinance Loans, or VA Interest Rate Reduction Refinance Loans. Click the options in the drop-down menu to read more about these three types of VA Loans.
Active service members and Honorably discharged members of the United States military are eligible for VA loans. Because VA loans are backed by the Department of Veterans’ Affairs, they have an easier approval process than others. Most discrepancies in credit history can be overlooked with a VA Loan. Generally, no more than 41% of total income can be allotted toward monthly debts, however this ratio can typically be exceeded for Veterans with a good credit history. A loan officer can help calculate what those numbers will look like for your budget. These loans require no assets, and many times the seller will pay the closing costs. Almost all single-family homes, condos, planned urban developments, townhouses, and manufactured homes are eligible for VA financing.
With VA loans, borrowers have little to worry about. No down payment is required even if the Veteran has minimal or no credit history. There are also a few great refinancing options available. VA loans are also guaranteed by the VA, so the mortgage servicer is required to originate and service the loan according to VA standards. Veterans put their life on the line fighting for our country, at Oceanside, we believe the least we can do is make the transition into life back home as easy as possible.
Call or email today to talk with a loan specialist about the possibility of getting a VA loan approved. When you contact us, try to have a few things available to make the process easier. Your driver’s license, 2 year’s of W-2s, 30 day’s pay stubs, the last 2 months of bank statements, DD-214 (discharge papers), certificate of eligibility, and your homeowner’s insurance declaration or agent’s contact information.
Oceanside Mortgage Company is a private corporation. Oceanside Mortgage Company is not acting on behalf or at the direction of HUD/FHA/VA/USDA or the Federal Government. By refinancing your existing loan, your total finance charges may be higher over the life of the loan. NMLS# 80015 Visit the Nationwide Mortgage Licensing System & Registry consumer access website for licensing information: www.nmlsconsumeraccess.org Website authorization by the New York State Department of Financial Services is pending. Until this website is authorized, no mortgage loan applications for properties located in New York will be accepted through this site