Atlantic Bay Mortgage Group

We support our Active Duty, Reservist and Retired Service Borrowers!

Because of your honorable service to our country, Atlantic Bay Mortgage Group and the Department of Veterans affairs wants to help you purchase or refinance your home with a VA-Guaranteed Home Loan.

The main purpose of the VA home loan program is to help veterans finance the purchase or refinance of a home with favorable loan terms and at an interest rate which is usually lower than the rate charged on other types of mortgage loans. For VA loans the term “Veteran” includes certain members of the Selected Reserve, active duty service personnel and certain categories of spouses.

One of the great benefits of purchasing a home with a VA home loan is that you can receive 100% financing (zero down payment), no monthly mortgage insurance and competitive interest rates. Borrowers have the option to receive closing cost assistance from home sellers to pay all closing costs and even some consumer debt. These loans also have no prepayment penalty, flexible qualifying guidelines and are more lenient on credit scores.

The VA home loan allows eligible borrowers to refinance their current VA home loan and lower their rate with no qualification of credit, income or assets, no appraisal of value on the home and limited paperwork. Borrowers may also be eligible to take cash out of a property ­up to 90% of the value, with full qualifications.

Even if you have purchased a home before with a VA home loan or you currently own a home with a VA home loan on it, you may be eligible to buy another primary residence using a VA home loan.

Another great feature of a VA home loan is that the maximum loan amount with no down payment is $417,000. Loan amounts can exceed $417,000, upwards to over $1 million, with a down payment on the property. Contact an Atlantic Bay Mortgage Banker for more information on VA home loans and a free pre-qualification on how much you could borrow for a new home.