Apply for Military Home Loans in San Diego at Equis Mortgage Group
“Military Home Loans in San Diego at Equis Mortgage Group”
Learn about military home loans now available from Equis Mortgage Group in San Diego and how to apply for them for veterans and veterans.
For many who qualify, military home loans in san diegoaka the VA loan program is the best possible mortgage.
Backed by the U.S. Department of Veterans Affairs, VA loans are designed to help active-duty military, veterans, and other groups become homeowners at an affordable cost.
VA military loans in San Diego require no down payment, require no mortgage insurance, and have lenient rules on qualification, among many other benefits.
Provided one is on the fence about veteran and military home loans in San Diego, here are the top five benefits of VA loans:
No Down Payment on VA Military Home Loans in San Diego
Most home loan programs require you to make at least a small down payment to buy a home.
The VA home loan is an exception.
Rather than paying 5%, 10%, 20% or more of the original purchase price of the home in case, with a VA loan one can finance up to 100% of the purchase price.
Military home loans in San Diego, more commonly known as VA loans, are a true no down payment home loan opportunity.
1. No mortgage insurance for VA military home loans in san diego.
Typically, lenders require you to pay for mortgage insurance if you have a down payment of less than 20%.
This insurance — known as Private Mortgage Insurance (PMI) for a conventional loan and Mortgage Insurance Premium (MIP) for an FHA loan — would protect the lender in the event the loan defaults.
Military home loans in San Diego do not require a down payment or mortgage insurance.
This makes a VA-backed mortgage very affordable upfront and over time.
2. The VA loan amount in San Diego has a government guarantee!
There’s a reason the VA loan comes with such favorable terms.
The federal government guarantees these loans – meaning that a portion of the loan amount will be returned to the lender even if one is unable to make monthly payments for whatever reason. This guarantee encourages and enables private lenders to offer VA loans on exceptionally attractive terms.
3. You can buy the best VA military home loans in san diego by the tariffs.
VA military loans are not originated or funded by the VA.
Nor are they direct loans from the government.
Mortgage rates for military home loans in San Diego are not set by the VA itself, but VA loans are offered by US banks, savings and loan institutions, credit unions, and mortgage lenders – each setting their own VA loan rates and fees.
This means that one can shop around and compare loan offers and still choose the VA loan that best suits their budget.
4. Military home loans in San Diego have no prepayment penalty!
A VA loan will not restrict the right to sell the property during the term of the loan.
There is no prepayment penalty or early exit fee, regardless of how soon one decides to sell the home.
5. Finally, there are no restrictions regarding a refinance of one’s VA loan.
One can refinance an existing VA loan into another VA loan through the agency’s Interest Rate Reduction Refinance Loan (IRRRL) program, or switch to a non-VA loan at any time.
Provided one is active duty or veteran, in the military or one of the other departments, consider locking in today’s low interest rates and get help applying for military home loans in san diegotoday.
Equis Mortgage Group NMLS #2009443 / DRE #01438695
David LePari, Broker NMLS #2027739
Company Name: Equis Mortgage Group, LLC
Contact: David Leparis
E-mail: Send an email
Call: (619) 368-0941
Address:11440 BERNARDO COURT WEST, SUITE 300
Town: San Diego
The country: United States