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VA
Loans

Family First Funding is proud to offer VA loans to active and veteran service members and their eligible spouses. If you’ve served our country, then you may be eligible.

 

The VA loan extends to the Army, Navy, Air Force, Marines, Reservists and National Guardsmen. If you are a Disabled Veteran, you may qualify for additional benefits on a VA home mortgage loan.  An additional benefit to the VA Home Mortgage Program is that it does not limit the number of times a veteran may use the program.

 

 

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VA Loans
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You’ve Served Us… Now Let Our Family Serve Yours!

VA LOAN BENEFITS:

  • No money down
  • Larger loan limits available
  • No monthly Homeowner’s Insurance is required
  • Many VA loans are assumable
  • It is easier to qualify for a VA loan than a conventional loan
  • VA loans can be refinanced
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VA LOAN TYPES:

  • Purchase: Buy a home with zero down. No all property types qualify. You cannot use a VA loan for an investment or vacation home.
  • Cash-Out Refinance: Replace your conventional or VA mortgage with a VA loan that turns your equity into cash.
  • Streamline Refinance: Replace your current VA mortgage with a VA loan with a lower interest rate, or refinance from an adjustable to a fixed rate.

 

  • Rehab & Renovation: Finance the cost of a renovation or home improvement
  • Native American Direct Loan (NADL): For eligible Native American veterans to buy, build, improve, or refinance a home on federal trust land.

 

Explore VA Renovation
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WHAT DOES

VA HAVE FOR YOU?

You do not have to put any money down to qualify for a VA loan for up to $647,200 for a single-family home.  If the seller agrees to pay the closing costs, you may be able to purchase the home with no out of pocket costs.  The loan and sales contract can be set up so that the VA loan covers 100% of the selling price and the seller covers the closing cost.

The Veterans Administration assesses a Funding Fee to all VA loans between 1.4% and 3.4%.  In an FHA mortgage the customer must put down at least 3.5% of the loan amount.  The fee is added into the amount of the loan to be paid over the life of your VA home mortgage loan.  The VA Funding Fee replaces the much higher priced Mortgage Insurance required when you get a conventional home loan.  If you are a Disabled Veteran, you may qualify to get the fee waived completely.

VA loans are also assumable.  If the person assuming the mortgage is a veteran with VA eligibility, the original veteran will not be giving up the amount of eligibility that they used to get the loan at the beginning.  Veterans should use great care and closely investigate the terms of an assumption before allowing someone to assume their mortgage.  It is too great a benefit to give up.

The VA offers excellent qualifying standards.  The VA does not use credit scoring in their analysis of the loan.  Even if you have experienced some financial difficulties in your life that caused your scores to be low but have maintained a good payment record over the past year or so, you may qualify for a VA mortgage loan.  This can be a tremendous savings compared to the cost of conventional loans when the borrower’s credit scores are low.

VA loans have built in features allowing a loan to be refinanced to a lower interest rate without all of the criteria normally associated with a conventional loan.  This is called an Interest Rate Reduction Loan; the veteran can secure a lower interest rate without any credit checks, appraisal, and income or asset verification and can roll the costs of the transaction into the loan so there are no out of pocket costs.

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Testimonials

What Our Customers Are Saying

Testimonials

What Our Customers Are Saying

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Everyone we came across at the company made our process a lot less stressful. They answered all our questions and made sure we handed everything that needed to be handed in on time. Thanks!

Paul K. / Homebuyer, NJ

We highly recommend Family First as they are an amazing team, efficient, honest and always available! Not only would I recommend Family First to my clients, I do use them for our family's mortgage needs!

Lisa C. / Real Estate Agent, FL

Great service, very professional. Highly recommended!

Christofer V. / Homebuyer, TX

Expertise, open communication at all times, and complete confidence knowing that my Buyer was wonderfully serviced and their loan would close!

Laure M. / Real Estate Agent, NJ

It was a smooth process from start to finish and I appreciate the time each of them took to answer any questions I may have had with respect to the process, the paperwork, etc. They were all incredibly kind, helpful, and responsive no matter how small the question may have been, and as a first time homebuyer I am very grateful for that.

Jessica S. / Homebuyer, NJ
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