 VA Home Loans at Portland Oregon Mortgage Loans
VA home loans through Portland Oregon Mortgage Loans and guaranteed by the U.S. Department of Veteran Affairs (VA) are available to eligible veterans for the purchase of a home.
The guaranty means the lender is protected against loss if you fail to repay the VA home loan. In most cases, no down payment is required on VA home loans and the borrower usually receives a lower interest rate than is ordinarily available with other mortgage loans.
Other benefits of VA home loans include:
- Negotiable interest rate.
- Closing costs comparable – and sometimes lower - than other financing types.
- No private mortgage insurance requirement.
- Right to prepay loan without penalties
- Mortgage can be taken over (or “assumed”) by the buyer when a home is sold.
- Counseling and assistance available to veteran borrowers having financial difficulty or facing default on their loan.
Although mortgage insurance is not required, the VA charges a funding fee to issue a guarantee to a lender against borrower default on a mortgage. The fee may be paid in cash by the buyer or seller, or it may be financed in the VA home loan amount.
VA home loans can be used to buy a home, build a home and even improve a home with energy-saving features such as solar or heating/cooling systems, water heaters, insulation, weather-stripping/ caulking, storm windows/doors or other energy efficient improvements approved by the lender and VA.
Veterans can apply for VA home loans starting with our one page online application. We will provide the rest of the forms requested by the VA and the lender.
Send this page to your veteran friend and we will pay for the home appraisal he needs during the va loan process.
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