Achieve your dream of home ownership with a VA loan.
At Harbor Mortgage Company, we want to thank all current service members, veterans, and surviving spouses for their commitment to serving our country. We also want to help you achieve your dream of becoming a homeowner by introducing you to your options for VA loans and other mortgage solutions.
VA loans help current servicemembers and veterans become homeowners by guaranteeing a portion of the loan, which enables us as your lender to provide you with more favorable terms. When you take out a VA loan for your home purchase or refinance, you are also eligible for the following benefits:
- No down payment is required.
- Competitively low interest rates.
- Limited closing costs and no need for Private Mortgage Insurance.
VA loans also come with a lifetime benefit, so you can use this form of financing multiple times.
If you are interested in using a VA loan for your next home purchase, the lending process is similar to securing a traditional mortgage. Our team may require additional verification to determine your current or prior status in the military, but beyond that, we will shop for different VA loans on your behalf that carry the best terms and options over the life of the loan.
We are your guide when it’s time to make your dream of homeownership in Savannah, Georgia a reality. Contact us today to set up an appointment, learn more about VA loans, and start the prequalification process.
FAQs for VA Loans
If you are purchasing a new home and need to refinance this purchase, one option that may be available to you is a VA loan. The following are some common questions we receive about VA loans and their answers.
What is a VA loan?
A VA loan is a type of mortgage loan program guaranteed by the U.S. Department of Veterans Affairs. The purpose of VA loans is to help veterans and their families purchase homes or refinance their mortgages.
Who qualifies for a VA loan?
Generally, active-duty service members, veterans, and National Guard members can obtain a VA loan. Under certain conditions, the spouses of deceased service members may also be eligible for one of these loans.
How do you apply for a VA loan?
To apply for a VA loan, you must obtain a Certificate of Eligibility (COE) from the VA. After you have this, any lender can help you apply for one of these loans.
What are the benefits of a VA loan?
There are many benefits of using a VA loan to purchase a home or refinance. For example, you may not have to put down a down payment, you do not have to pay for private mortgage insurance, and closing costs are limited. You also have access to competitive interest rates.
Are there limitations on properties you can buy with a VA loan?
You can typically use a VA loan to finance the purchase of a single-family home, condominium, or multi-unit property. However, the property must meet the VA’s requirements for occupancy, safety, and soundness.