A VA loan is perhaps the most powerful and flexible lending option on the market today. Rather than issue loans, the VA instead pledges to repay about a quarter of every loan it guarantees in the unlikely event the borrower defaults. That guarantee gives VA-approved lenders greater protection when lending to military borrowers and often leads to highly competitive rates and terms for qualified veterans.
Benefits of VA LoansFar and away, the most significant benefit of a VA loan is the borrower's ability to purchase with no money down. Apart from the government's UDSA's Rural Development home loan and Fannie Mae's Home Path, it's all but impossible to find a lending option today that provides borrowers with 100 percent financing.
VA loans also come with less stringent underwriting standards and requirements than conventional loans. In fact, about 80 percent of VA borrowers could not have qualified for a conventional loan. These loans also come with no private mortgage insurance (PMI), a monthly expense that conventional borrowers are required to pay unless they put down at least 20 percent of the loan amount.
VA loans offer a few other bells and whistles:
Competitive interest rates that are routinely lower than conventional rates
No prepayment penalties
Higher allowable debt-to-income ratios than for many other loans
Streamlined refinancing loans that require no additional underwriting
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Our happy Clients
"I've been in the Real Estate Industry for over 15 years and I've worked with a lot of lenders. I can truly say that Andy Gobin with NewStar Mortgage is one of the BEST!! His integrity and his above and beyond attitude is SO refreshing, No matter the size of the loan he goes that extra mile, even when I'm over the top he remains his same calm self. He genuinely cares for our clients and is ALWAYS accessible I mean on weekends late at night and even on Holiday's. I truly enjoy having him on my team and is a JOY to work with. "
"In the latter part of 2014, I sold and bought a home two months apart which can be a very stressful and daunting task on anyone. However working with Mr. Andy Gobin of New Star Mortgage was one of the best decisions I made in securing a home loan. Mr. Gobin came highly recommended from a friend and from my very first conversation with Mr. Gobin, I had NO regrets. While mortgage loan officers from other companies gave up on my financing, Mr. Gobin didn’t and worked hard from day one to find a loan that would work and that he did! During the process, I called him numerous of times of the day, Mr. Gobin’s kindness, professionalism and demeanor never changed. Additionally, my realtor was so impressed with Mr. Gobin’s professionalism, responsiveness and the efficient way Mr. Gobin handled the processing of my loan docs, he is also referring customers to Mr. Gobin! He (Mr. Gobin) carefully explained the loan process; kept me updated throughout the process; closed my loan in a timely manner; and was able to get me an outstanding (low) rate. If you are looking for a mortgage loan and are not concern about the processing time or getting a great rate....... then call any mortgage company. IF you want your mortgage loan processed quickly, professionally AND get the best rate…. then I HIGHLY RECOMMEND that you call Mr. Andy Gobin of New Star Mortgage!"
"Your company was so much more professional then the last mortgage company I used. Every question I asked was answered honestly and accurately. I would recommend you to anyone."