What is a VA Loan?
In 1944 President Franklin D. Roosevelt signed the GI Bill into law giving many Veterans the opportunity to realize the dream of homeownership through the VA Loan Program. At Wiser Lending, we take very seriously serving those who have served our country. Wiser Lending specializes in all types of VA loans and we have helped veterans and active duty servicemen and women get the best VA loan possible. We are ranked among the top VA lenders for loan volume in the country.
Since we are a wholesale company, we can offer the best VA rates at the lowest costs and we only work with investors that underwrite directly to the VA guidelines. That means our VA loans are qualified based solely on what the VA has established for veterans and active duty servicemen and women to qualify for a home loan.
What are the Different Types of VA Loans Available?
The four types of VA Loans we offer include:
VA Home Purchase Loans
We have some of the lowest rates and lowest cost in the business and our conventional loans prove it.
- You can purchase a home with 0% down up to $453,100
- Lower Rates and Costs than conventional loans
- Low Credit Stores can still qualify even if you had a bankruptcy or foreclosure
- There is no private mortgage insurance or PMI
- Easier qualifying guidelines including income and debt ratio requirements
- No additional processing times versus other loan programs. We can close our VA home purchase loan just as fast.
- No VA specific inspection is required – the VA Appraisal not only determmines the value but also ensures the home is in good condition and ready to move in.
VA Cash Out or Refinance Loans
FHA Loans are great if you have credit or income issues. Our FHA Loans have helped many borrowers who thought they couldn’t buy a house.
- Borrow 100% of the value of your home
- There is no private mortgage insurance or PMI
- Lower Rates and Costs than conventional loans
- Low Credit Scores can still qualify even if you had a bankruptcy or foreclosure
- Easier qualifying guidelines including income and debt ratio requirements
- No additional processing times versus other loan programs. We can close your VA Cash out loan just as fast
- Cash Out not available in Texas, but Texas homeowners can use the loan to refinance their current non VA loan, including a current Texas Cash ut Loan
VA IRRRL (Interest Rate Reduction Refinance Loan)
Wiser Lending Offers Conforming High Balance Loans to keep our customers from paying Jumbo Loan Rates and Costs.
- Refinance Current VA Loan to a lower rate or from an ARM to a fixed rate
- No Credit or Income Requirements
- No Appraisal needed
- LIttle Documentation Needed
- No wait periods for Bankruptcy or Foreclosures
- Lower Rates and Costs than conventional loans
VA Jumbo Loans or VA High Balance Loans
Veterans and their families are one of our main focuses. We offer the best VA Loans available to say Thank You for serving our country!
- Lower Down Payments compared to normal jumbo loans
- Lower Rates and Costs than conventional loans
- Low credit scores can still qualify even if you had a bankruptcy or foreclosure
- There is no private mortgage insurance or PMI
- Easier qualifying guidelines including income and debt ratio requirements
- No additional processing times versus other Jumbo loan programs. We can close your VA Jumbo just as fast.
- No VA specific inspection is required – the VA appraisal not only determines the value but also ensures the home is in good condition and ready to move in.
Why Don’t Realtors Suggest VA Loans?
Wiser Lending also works closely with our client’s realtors to educate them on the VA loan process. In the past the VA loans were difficult to do and because the VA had so many extra guidelines to follow, a lot of realtors steered their clients away from doing VA loans. Today this is simply not true. The VA cut their guidelines down and now closely follow Fannie Mae and Freddie Mac conventional guidelines. Now VA borrowers enjoy easier qualifying and fast turn times. Since most realtors don’t specialize in VA loans, they are simply not aware of the changes and how easy and beneficial the VA Home Loan Program is. The biggest complaint from realtors is the VA appraisal and inspection. The VA did away with the inspection and solely relies on the VA appraiser to ensure the home is in good condition and ready to move in. The VA wants you to buy a home in good condition and as long as the home is, then there is no issue with the VA appraisal either.
Am I Eligible for a VA Loan?
In order to be eligible for a VA Loan, you must meet one of the below requirements:
- You have served 90 consecutive days of active service during wartime
- You have served 181 days of active service during peacetime
- You have more than 6 years of service in the National Guard or Reserves
- You are the spouse of a service member who has died in the line of duty or as a result of a service-related disability.
Don’t be deterred by realtors, other lenders, or horror stories you may have heard from other veterans or active duty service men and women. Our promise is to guide you through the VA loan process and provide customer service that is second to none while delivering the best rate and lowest cost possible. We encourage all past and present military personnel to contact us to see if they are eligible for a VA home loan. It is hands down the best loan program available and if you have served our great country then you deserve to use the benefits you have earned.
Apply for a VA Loan Today
Wiser Lending is 100% transparent with our loan process, rates, and closing costs so there is no worry about trusting us with your business. We have made it our mission to educate and inform all VA eligible homeowners how the loan works, who is eligible and how beneficial the VA loan program is. We don’t sell VA ARMs as fixed rates nor do we try to sell you a higher rate to come back a few months later to offer you a VA Streamline or IRRRL, so we can double our profits. We put our clients in the best loan possible the first time, so they don’t have to worry about their home in the future. Make the Wiser Choice and contact us today for your VA Loan!