VA Mortgage Loans

A VA loan is a popular option for many veterans across the Silicon Valley.  VA loans allow veterans to purchase a home with 100% financing and have no monthly mortgage insurance. For veterans who currently have anVA loan that is at a higher-than-market interest rate, they can easily take advantage of the Silicon Valley VA streamline refinance program with no out-of-pocket closing costs required.

As you may be aware, the VA doesn’t actually lend you money for your Silicon Valley VA loan, they only insure your loan so that if you default, the lender gets paid. Because of this reason, lenders are excited about lending money to veterans through the Silicon Valley VA loan program.

Silicon Valley VA loan highlights include:

  • 100% financing for new home purchases
  • No mortgage insurance required
  • No prepay penalty in any Silicon Valley VA loan
  • Silicon Valley VA loans have similar closing costs to other loans, even though they offer 100% financing
  • A one time funding fee is charged – but can be rolled into the loan

A VA loan can be used to buy a home, build a home and even improve a home with energy-saving features such as solar heating or cooling systems, water heaters, insulation, weather-stripping, storm windows/doors or other energy efficient improvements approved by the lender and VA.

Silicon Valley VA Loans: The Certificate of Eligibility

In order to qualify for a Silicon Valley VA loan, you must have a Certificate of Eligibility from the VA, and it must be included in your loan package.  If you don’t currently have a certificate of eligibility or need help obtaining your certificate, you can contact us directly for help!

Silicon Valley VA Loan Streamline Program

For Silicon Valley 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. With the Silicon Valley VA streamline refinance loan, you can lower your monthly payment and interest rate with no out-of-pocket expenses. The VA streamline is also known as the VA IRRRL program.

Silicon Valley VA Loan Experts: Contact Us

For more information about the VA loan program, contact one of our local VA loan experts who can help you with all of your VA loan needs right here in the Silicon Valley.