Are you are a veteran, member of the military or military spouse? You may qualify for a VA Home Loan. VA Loans offer flexible options as either fixed-rate or ARM mortgages. You may qualify for fast approval and a hassle-free loan even with less than perfect credit. Refinance up to 100% of your home or buy a new home with no down payment and never pay monthly insurance (PMI)!
Is a VA loan right for you?
VA loans are government-backed loans intended to help eligible service members, veterans, and military spouses to purchase homes. These loans come with great rates and payment terms, and require no down payment. Are you an active military member, veteran, reservist, or surviving spouse? You may be eligible for a VA loan!
A VA Mortgage is one of the most popular paths to becoming a homeowner. The cost savings can be substantial – A program designed specifically to benefit the American military.
Benefits of a VA loan
- No money down: Purchase or refinance at 100% of the home’s value.
- Fast processing: Let our VA team guide you through a fast and easy process.
- Multiple uses: Use your VA loans to purchase property, refinance an existing loan, and even to build or improve your home.
- Save on mortgage insurance: VA loans don’t require mortgage insurance no matter how much deposit you put down.
- $0 Downpayment Option – No downpayment is required for a VA Mortgage.
- Lower Monthly Payments – Competitive rates and no mortgage insurance bring your monthly costs down.
- Getting Qualified can be Easier – Qualification guidelines are more flexible than traditional mortgage products.
- Getting Started is Easy – VA home loan specialists are available to step you through the process, NO OBLIGATION.
VA loan eligibility requirements
You may be VA Home Loan Eligible if:
- You meet the minimum active service requirements (vary by active-duty dates, wartime & peacetime periods).
- You are the spouse of an American Veteran and meet the requirements.
To obtain a Certificate Of Eligibility, you must have been discharged under conditions other than dishonorable and meet the service requirements. Our VA home loan Minnesota specialists can help you obtain your Certificate of Eligibility as we go through your VA Home Loan process together.
Working with Refined Lending, a division of Luminate Bank,
- Proudly approved to offer VA loans – The Department of Affairs has a strict process required for lending offices offering VA loans.
- Your Experience – We want you to have a positive experience during this exciting time of your life!
- Our Processes – Our actual loan processes are easy and efficient.
- Our Philosophy – It’s simple. You’ve been there for us. Now we want to be there for you.
We are staffed with VA home loan specialists who take pride in making your home purchase as smooth as possible because you deserve it. Visit out VA Home Loan specific website for more FAQ’s- VA HOME LOAN MN
Check out what your monthly payment could be by using our VA Mortgage Calculator…
Our mortgage calculators are for demonstration purposes only and may not reflect actual numbers for your specific mortgage. Contact us and we will walk you through the best possible mortgage scenario for your specific needs!
Principal & Interest (P&I)
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Taxes & HOA
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Homeowners Insurance
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VA Funding Fee
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Purchase Price
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Down Payment
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VA Funding Fee
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Total Loan Amount
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Estimated Taxes & Insurance
Property taxes are generally estimated to be 1.2% of the home's value, but may vary based on your location. Annual homeowners insurance is roughly 0.35% of the home's value but can change based on insurer. Your loan specialist can help you determine property tax and insurance rates in your area.
VA Funding Fee
The VA Funding Fee is paid to the VA to help fund the program and varies depending on type of service, loan amount, down payment and subsequent VA Loan usage. This fee can be paid in cash at closing, but most borrowers choose to roll this cost into their monthly payments. The VA Funding Fee is waived for Veterans entitled to VA compensation for a service-connected disability and surviving spouses of Veterans who died in service or as a result of a service-connected disability.
Amount Financed
Purchase Price (-) Down Payment (+) VA Funding Fee.
Estimated Payment
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Loan amount
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VA Funding fee
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VA Funding fee percentage
Down payment
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Interest rate
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Taxes & insurance included?
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Homeowner's insurance
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HOA dues
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Payment Breakdown
Amortization
Principal vs. Interest
Amortization Schedule Breakdown
Our detailed amortization schedule breaks down your mortgage payments, showing how they are split between interest and principal over the life of your loan.
Note: The actual monthly payment may be higher than what is shown here, as this schedule does not account for variable costs such as property taxes and home insurance, which are often included in your total mortgage payment.
- Principal payments: $$240,000 (the amount borrowed)
- Interest payments: $$297,554 (the cost of borrowing)
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No matter what your situation is, there is a home financing solution for you. We are ready to guide you through your options and get you the best deal possible!
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