Global Mortgage: VA Loans San Diego
Are you a veteran searching for an affordable home loan in San Diego? Did you know that you may qualify for a low interest VA loans San Diego – insured through the U.S. Department of Veterans Affairs? The VA enables private lenders to provide affordable mortgage products to veterans, service members, and surviving spouses throughout the United States, including San Diego County and the surrounding area. Since the VA is backing up the loan, it represents a less risky product to San Diego mortgage lenders. As a result, San Diego VA loans offer friendlier terms to borrowers.
VA Loans San Diego Options:
- Purchase loans: A VA purchase loan allows you to buy a San Diego property with a low down payment or no down payment, depending on what you qualify for. You will be able to enjoy competitive interest rates that are substantially lower than those that you would otherwise have to pay.
- Cash out refinancing: If at some point in the future you should need some extra money, cash out refinancing allows you the option of converting some of your home equity into cash to pay off important debts. This cash can be used to pay for school loans, medical bills, and more.
- Interest rate reduction refinance loan (IRRRL): If you already have a VA loan and you are struggling to keep up with payments, you may be able to refinance your VA loans San Diego at an even lower rate.
Additional benefits are available to disabled or Native American veterans. Adapted housing grants assist disabled veterans with buying or building a home that can accommodate their disability. If you simply need to make some modifications to an existing home, an adapted housing grant may still offer you what you need to finance the upgrades to your property. If you are an eligible Native American veteran, you may be able to take out a VA loan to build or buy a home on Federal Trust Land.
If you are interested in VA loans San Diego, we can help you determine whether you are eligible for any programs. As you can see, VA loan products go well beyond the basic purchase loan.
VA purchase loan terms are some of the best you will find. As long as the sales price of the home does not exceed the property appraisal value, you literally will have no down payment. No lender can ever charge you a penalty fee if you pay your loan off early. The VA further limits closing costs, providing you with yet another direct benefit. And if you do run into trouble later down the road, cash out refinancing and IRRRL are available to help.
Are you ready to see if you qualify for one of these excellent VA loans San Diego? Then give us a call at (619) 692-3630. We’ll discuss your situation, your eligibility, and which products may best suit your needs.