VA Loan SAQ’s

VA Loan SAQ’s

-Am I being charged any lender fees or points? We at First Priority Home Loans do not charge any lender fees or points unless, the Veteran chooses to pay discount points to secure a lower interest rate. **Third party fees apply**

-Is my loan fixed or Variable? We at First Priority Home loans offer full transparency and always provide full disclosure of the loan terms.

-What property types are eligible for VA financing? With VA financing you can purchase Condo’s/town homes, single family, and multi unit properties.

-If the interest rates were to drop after I close my purchase, how long must I wait before I can submit for a VA Streamline refinance? You must pay at least 6 monthly payments before you can become eligible for a VA Streamline, also known as a VA IRRRL.

-Can I buy with less than perfect credit? Yes, We at First Priority Home Loans have helped many Veterans who have less than perfect credit purchase their home.

-How many years must I wait to once again purchase a home using my VA loan benefit after a BK-7 or Foreclosure? After a foreclosure or BK-7 discharge, there is a two year waiting period. I recommend during this time you keep all you current debt paid on time as this shows re-established credit.

-Is there a benefit of putting money down on a VA loan? Yes, as long as you put at least 5% down, the funding fee will be reduced and the interest rate may be reduced as well. **If more than 10% disabled then the only advantage may be a lower interest rate. **

-If I’d like to cash out some equity whether it be for home improvements or debt consolidation, what’s the max the VA will allow me to take out? With a VA loan you can cash out up to 100% of the appraised value of your home. With this loan program an appraisal and income documentation would be required(must credit qualify).

Getting started is easy. We offer very competitive rates, have great service, and always close on time.

Best Mortgage companies in Chula Vista

Licensing

Andre Enriques
License # NMLS 220937
DRE # 01713544

Contact Us

Andre Enriques Mortgage Banker - VA Loan Expert, a dba of Anchor Funding Inc

Chula Vista Office
Phone: (619) 323-2066
Cell (619) 208-6499
891 Kuhn Drive, Suite #204
Chula Vista, CA 91914

San Diego Office
Phone: (619) 208-6499
6336 Greenwich Dr, Suite A
San Diego, CA 92122

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Equal Housing Lender

NOT ALL APPLICANTS QUALIFY. First Priority Home Loans is a DBA of Anchor Funding, Inc. is licensed by The
California Bureau of Real Estate #01276087. FHA Non-supervised lender #00257-0000-5
NMLS #1626581 & #236419
NMLS Consumer Access
Loans made or arranged pursuant to the California Department of Financial Protection and Innovation
California Finance Lenders Law license number 603 L293