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VA Home Loans are mortgage loans guaranteed by the U.S. Department of Veterans Affairs (VA) that offer favorable terms to eligible veterans, active-duty service members, National Guard and Reserve members, and surviving spouses. These loans aim to make homeownership more accessible and affordable for those who have served or are currently serving in the military.
The application process for a VA Home Loan involves several steps, from pre-approval to closing. Applicants must provide documentation to verify their eligibility, income, and credit history. Working with a VA-approved lender who understands the intricacies of VA loans can streamline the application process.
VA loans have specific property requirements, including adherence to minimum property standards (MPS) and appraisal requirements. Not all properties are eligible for VA financing, so it’s essential to ensure the property meets VA guidelines before proceeding with the loan application.
To qualify for a VA Home Loan, individuals must meet specific eligibility criteria set by the VA. This includes service length requirements and meeting certain criteria based on military service status. Obtaining a Certificate of Eligibility (COE) from the VA is a crucial step in the application process, as it verifies the applicant's eligibility for VA loan benefits.
VA loans offer several advantages over conventional mortgage loans. These include no down payment requirement (in most cases), competitive interest rates, no private mortgage insurance (PMI) requirement, and relaxed credit score requirements. VA loans can result in significant cost savings for borrowers compared to conventional loans.
There are different types of VA loans available to suit various financing needs. These include purchase loans for buying a home, cash-out refinance loans for accessing equity, and interest rate reduction refinance loans (IRRRL) for refinancing existing VA loans to lower interest rates or switch from an adjustable-rate mortgage (ARM) to a fixed-rate mortgage.
At Accelerated Home Loans, we offer a wide range of loan types to accommodate the diverse needs of our clients. Whether you’re a first-time homebuyer, a seasoned investor, or looking to refinance your existing mortgage, we have the perfect mortgage solution for you. Our experienced team of loan officers will work closely with you to understand your unique requirements and guide you towards the loan type that best fits your financial goals. Here are some of the loan types we specialize in:
Veterans and active-duty personnel can utilize their VA benefits to purchase new or existing homes with no down payment requirements. The VA Purchase Loan is for an owner occupied home only but the property type can range from single-family homes, condominiums, manufactured homes, multifamily and even new construction. Interested in getting pre-approved for a VA Home Loan today? Call us today at 800-582-2323
The VA Interest Rate Reduction Refinance Loan is one of the best features of the VA Home Loan. Also known as a VA Streamline because of its simpler underwriting process that doesn’t require an appraisal, income or assets. Borrowers that take advantage of the VA IRRRL are able to reduce their interest rate and payment and defer up to two months of mortgage payments. Call us today at 800-582-2323
The VA Cash-Out Refinance allows qualified homes owners to take cash out of their home’s equity. Eligible candidates can take out as much of 100% of their home’s appraised value. Interest rates will vary based on total loan to value with the best rates at or under 90% of the properties appraisal. Call us today at 800-582-2323
The VA Energy Efficient Mortgage allows borrowers to take additional money from their property to pay for energy efficiency improvements to their home. Veterans can finance up to an extra $6000 to cover the cost of qualified improvements. Call us today at 800-582-2323
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Mortgage Moneyline, Inc dba Accelerated Home Loans makes customer service our number one priority. We encourage you to call our Corporate Customer Service department at (800) 582-2323 between 8:00 am and 5:00 pm Pacific Standard Time or email us anytime at info@acceleratedhomeloan.com for any complaint resolution you may have regarding the origination of your loan.
Accelerated Home Loans is a dba of Mortgage Moneyline, Inc, Department of Veterans Affairs Lender ID: 905394000, is licensed Arizona Mortgage Broker License # 1043490; California Department of Real Estate Corporation License Endorsement # 02192492; Colorado Mortgage Company Registration #2412161; Florida Mortgage Broker License # MBR5911; Maryland Mortgage Lender License # 2412161; Michigan NMLS ID FL0025526; North Carolina Broker License #B-219481; Oregon Mortgage Lending License #2412161; South Carolina Mortgage Broker License #2412161; Tennessee Mortgage License # 2412161; Texas – SML Mortgage Company License #2412161; Virginia Broker License # MC-7760. Nationwide Mortgage License System License #1895842. Licensing Information can be viewed at www.nmlsconsumeraccess.org. There is no substitute for a Loan Estimate. Accelerated Home Loans Inc., is an approved VA Lender. VA Lender ID 90-32180000.
State of Texas – Consumer Compliant Notice: Figure: 7 TAC §80.200(b) “CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A COMPANY OR A RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV.”
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