VA Mortgages

Providing Mindful Lending to Arizona, California, and Colorado

VA mortgages offer a valuable opportunity for active-duty service members, Veterans, and eligible surviving spouses to buy a home. VA mortgage loans provide benefits such as no down payment, competitive interest rates, and no private mortgage insurance (PMI), making homeownership accessible and more affordable for those who have served the country.

The flexibility of VA mortgages allows borrowers to buy single-family homes, condominiums, and even multi-unit properties. VA mortgages also have less stringent guidelines than traditional mortgages, which helps more Veterans become homeowners.

  • One significant advantage of VA mortgage loans is that borrowers may finance up to 100% of the home’s value, which means a Veteran home buyer has lower upfront costs to achieve their goal of homeownership. VA mortgages are a great benefit for those who have served our country.

    Borrowers benefit from fewer restrictions regarding credit scores, compared to conventional loans. This accessibility helps those with less-than-perfect credit histories secure financing and achieve homeownership. Additionally, VA mortgages are assumable, meaning future buyers can take over the loan under its original terms, potentially enhancing the property’s marketability.

    The VA also offers assistance to borrowers struggling with their mortgage payments, providing a safety net in times of financial hardship. This support underscores the VA’s commitment to helping Veterans and their families maintain homeownership and financial stability.

Types of VA Mortgages

  • VA Jumbo Mortgages

    VA jumbo mortgages allow Veterans and service members to purchase a home with a sales price above the VA Loan Limits. Veteran borrowers using a Jumbo VA loan still have all of the VA mortgage benefits, such as competitive rates, no monthly mortgage insurance, and a smaller down payment than a traditional "Jumbo" mortgage. VA Jumbo mortgages are a great option for buyers in areas with higher costs.

  • VA Cash-Out Mortgages

    VA cash-out mortgages allow Veterans to refinance their existing mortgage and take equity out of their home. This allows Veterans to convert their home’s equity into cash for debt consolidation, home improvements, or other financial needs. Borrowers can refinance up to 100% of their home’s value, offering significant flexibility and financial leverage. A VA cash-out mortgage offers Veterans the ability to access their home’s equity with more favorable terms, such as better interest rates than conforming mortgages, no monthly mortgage insurance, and the ability to take 100% of their equity out of their home.

  • VA Interest Rate Reduction Refinance Loan (VAIRRL)

    VA Interest Rate Reduction Refinance Loans are a streamlined process for Veterans to refinance their existing VA mortgage and lower their interest rate. Also known as the VA Streamline Refinance, this option helps reduce monthly mortgage payments with minimal paperwork and no appraisal. This refinance loan is an excellent choice for those seeking to take advantage of lower rates.

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Who Should Consider a VA Mortgage?

Military veterans and active-duty service members seeking to buy a home should take advantage of the VA Home Loan benefits. VA Mortgages are backed by the Department of Veterans Affairs and are specifically designed to support those who have served in the military. They offer competitive interest rates and no down payment requirement, making home ownership more accessible, especially for those who might struggle to save for a large upfront payment.

Individuals seeking a VA Mortgage can put no money down and not have monthly mortgage insurance. Not having mortgage insurance helps keep VA homebuyers’ monthly mortgage expenses lower. Additionally, VA mortgages are designed to help more Veterans experience home ownership. These loans have lower credit score requirements and underwriting guidelines.

Home buyers interested in buying a home in high-cost areas will appreciate the flexibility of VA jumbo mortgages, which allow borrowing beyond standard loan limits without losing the advantages associated with VA loans. Veterans looking to leverage their home equity can also consider VA Cash-Out Mortgages, which provide access to the home’s equity for various financial goals.

Ultimately, anyone with eligible military service seeking affordable home financing, lower monthly payments, and a smoother approval process should consider using their VA Home Loan Benefits. VA Mortgages are designed to recognize and reward military members’ service by making home ownership more attainable and less financially burdensome.

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Mindful Money aims to provide personalized guidance and support throughout the VA mortgage process to residents in Arizona, California, and Colorado, ensuring eligible individuals can take advantage of their VA home loan benefits.

All types of loans we provide:

  • A Qualified Mortgage is a category of loans with certain, more stable features that help make it more likely that you’ll be able to afford your loan.

    Conventional Mortgages, Conventional Rate, and Term Refinance, Conventional Cash Out Refinance, Conventional Down Payment Assistance Programs, Conventional First-Time Home Buyer Programs, Fixed Mortgages, ARMs Adjustable-Rate Mortgages, FHA Mortgages, FHA Down Payment Assistance Programs, FHA First Time Home Buyer Programs, FHA Streamline Refinance, FHA Cash Out, FHA 203K – Rehab Mortgage, FHA Reverse Mortgages, Non-FHA Reverse Mortgages, VA Purchase Mortgages, VA Jumbo Mortgages, VA Cash Out Mortgages, VAIRRL – VA Interest Rate Reduction Refinance Loan, Manufactured Home Mortgages - Conventional, FHA, VA, Construction Mortgages

  • Non-QM stands for Non-Qualified Mortgage. These loans are for borrowers who may not meet the requirements of standard loan programs. Non-QM loans typically have a special income qualification and are designed for people with unique income streams.

    Purchase, Cash Out, & Rate & Term Non-QM, 40 Year Term Mortgages. Interest Only Mortgages, Jumbo Mortgages, Alternative Income Qualifications for Self-Employed Borrowers, Fixed 2nd Mortgages, HELOC Home Equity Loan of Credit Mortgages, Bridge Loans, Fix & Flip, Foreign National Mortgages, ITIN Mortgages, Investor Loans, More than ten financed properties, DSCR: Rental income used to Qualify, Airbnb and VRBO Short term rentals