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VA ADVANTAGES No down payment in most cases • Home sales price can’t be higher than appraisal value Increased purchasing power • More housing affordability with lower interest rates, plus higher LTV (loan-to-value) ratios allowed No mortgage insurance requirement • Potential annual savings of .30% to 1.15% of the loan amount Reduced out-of-pocket costs • VA borrower’s closing costs are capped • Seller can pay all loan-related costs, plus up to 4% in concessions • Funding fee may be waived for borrowers with service-related disabilities More flexible credit requirements • As low as 580 credit score for some borrowers* VA entitlement isn’t one-and-done** • Reusable as many times as the borrower wants • Won’t expire even if the borrower has never used their benefit before Good for a variety of properties • Single-family homes, one-unit to four-unit properties, manufactured homes, and VA-approved condos VA PROGRAMS • Fixed-rate and Adjustable-rate Terms • VA Jumbo Mortgage - Up to $2 million loan amounts, plus up to 100% financing for veterans with FULL entitlement • Energy Efficient Mortgage (EEM) – Finance cost-effective, energy- saving improvements into the mortgage • Texas Veterans Land Board (TVLB) Loan – Robust home benefits for Texas veterans and military members • VA Interest Rate Reduction Refinance Loan (IRRRL) – Faster refinancing process for existing VA loans • Specially Adapted Housing – Housing grants for disabled veterans 14635 N. Kierland Blvd., Suite 140 | Scottsdale, Arizona 85254 | Branch NMLS 1655517 | AZ BK 0908763 | CARMLA 41DBO-77648. | Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act. *Requires Automated Underwriting System (AUS) Approve/Eligible recommendation. This is an automated program used by loan originators to qualify borrowers based on VA loan guidelines. Not all borrowers with a 580 score will be approved. **VA entitlement is the amount of the loan the Department of Veterans Affairs (VA) will guarantee. Entitlement is restored once the borrower pays off their existing VA loan by selling the home or refinancing. Cornerstone Home Lending is not affiliated with the US Government. Not a commitment to lend. Borrower must meet qualification criteria. Equal Housing Opportunity. KELLY ZITLOW Vice President | CMPS ® NMLS 164330 | D: 480.725.0150 [email protected] | www.KellyZitlow.com CONTACT US FOR A FASTER, BETTER WAY TO GET A VA LOAN VA HOME LOANS MADE EASY HELPING VETERANS + SERVICE MEMBERS ACHIEVE HOMEOWNERSHIP RANK
