Housing  |  VA Mortgages


What is a VA Loan?

Since 1944, VA home loan guarantees have been used to buy more than Thirteen Million homes. VA does not make the loans- VA guarantees the loans, which minimizes risk to the lender and reduces their loss in the event of foreclosure.

Any Lender can be used to purchase an existing home (house, condo or townhouse) OR one under construction. A VA loan can also be used to refinance an existing mortgage.
VA no longer establishes a maximum interest rate. Rather, VA loans are guaranteed at an interest rate agreed upon by the buyer and the lender. Discount points, which are used to buy down an interest rate, are negotiable and may be paid by the buyer or seller.
All potential qualifiers for a VA loan must be active duty military or must have been honorably discharged. Reservists also have eligibility, but there are some restrictions.
There are no restrictions on the number of times one may obtain a VA home loan. There must be, however, enough entitlement to obtain the loan. Once the home has been sold and the loan paid off, or assumed by a qualified borrower, the veteran can then apply for his/her full entitlement to be restored. A one-time special restoration of entitlement has recently become available.

U.S. Congress makes Big Changes for Veterans!
Now it's even easier for Veterans to buy their own home, the one they've always dreamed about! Congress and the President have recently passed legislation increasing the guaranty and maximum loan to:
$417,000

Order your relocation packet today at no cost to find out more on how to take advantage of this opportunity.

Jodi Shibler and JR Gehrmann
Abbey Realty, Inc.
4621 Lacey Blvd, Lacey, WA 98503
360-701-2595