A VA home loan is a great benefit to military personnel during and after their service. BluEleven understands the importance of a “home base” for military and their families and is proud to be able to help active and retired military use this product to meet their unique needs.A VA home loan is a great benefit to military personnel during and after their service. BluEleven understands the importance of a “home base” for military and their families and is proud to be able to help active and retired military use this product to meet their unique needs.
* Upon closure of your loan with BluEleven, BluEleven will donate up to $250.00 towards a Military charity of your choice.
(Qualifying disabled veterans get their funding fee waived which could be as much as 3.3% of the loan amount) for example: 410,000 purchase amount X 3.3% = 13,530.00 in savings.
To get you qualified and in your home within 30 days, call our loan experts at 1-800-872-5063
A 30-year fixed rate option gives you a stable, predictable monthly payment. These loans are great for people settling down in one house over a long period of time. They give deployed soldiers a warm place to come home.
A 15-year fixed-rate option could help current service members who would like to build equity more quickly. You pay more monthly, but this pace builds more equity in your home.
The flexibility of an adjustable rate mortgage can be appealing to current military service members expecting to move in the next few years. ARM homeowners pay a low introductory interest rate for the first few years, then move or refinance before it adjusts upward.
The VA will guarantee a maximum of 25% on your home loan up to the conforming loan limit of $417,000. For a loan greater than that amount a VA Jumbo Loan is needed. With a VA Jumbo Loan you can apply for a home up to $1,500,000 and will only need a down payment of 25% on the difference between $417,000 and the asking price of the home.
For example, you want to purchase a home that costs $500,000. You would be required to pay 25% down on the amount over $417,000.
$500,000 – $417,000 = $83,000. Then $83,000 x 25% = $20,750. This would be your down payment. This payment is still considerably lower than the 10% traditionally required for jumbo loans.