Far and away, the most significant benefit of a VA loan
is the borrower's ability to purchase with no money down.
Apart from the government's UDSA's Rural Development home
loan and Fannie Mae's Home Path, it's all but impossible
to find a lending option today that provides borrowers
with 100 percent financing.
VA loans also come with less stringent underwriting standards
and requirements than conventional loans. In fact, about 80
percent of VA borrowers could not have qualified for a
conventional loan. These loans also come with no private
mortgage insurance (PMI), a monthly expense that conventional
borrowers are required to pay unless they put down at least
20 percent of the loan amount.
Down payment as low as 0%.
Competitive interest rates that are routinely lower than conventional rates
No prepayment penalties
Higher allowable debt-to-income ratios than for many other loans
Streamlined refinancing loans that require no additional underwriting
"Marvelous! Rob was absolutely the very best! This was my first time dealing with a mortgage broker and found him based on a friend's referral. We closed my re-fi loan escrow at end of Aug. 2018. I am very happy and strongly recommend Rob Heath of Bayview Mortgage. Should I need any mortgage loans in the future, I will call him first. Rob is: completely knowledgeable of the market; he listened to me and presented a variety of good programs. He was with me 100% through all phases of loan app. and closing process. On a personal level: I appreciated his succinct, to the point and immediate responses to all my question. I appreciated his immediate attention to every aspect - even though he was dealing with a critical personal challenge. Wow. I admired him so much for this equanimity and dedication to service. Bravo Bob!"
"If you are looking for a home mortgage from a caring,highly professional loan broker with all the answers, this is your guy ! His clear,honest and straightforward approach is refreshing to say the least. He was able to answer all of our questions, and quickly lower our rate and save us thousands of dollars a month. Because of his hard work and due diligence the loan process was easy. Forget the banks they can not hold a candle to his knowledge and experience on residential loans.We will definitely be using his services in the future. Save time and money, do yourself a favor, Go See Robert !"
"Rob is stellar. When we needed to refinance our condo, he effortlessly found us a deal that not only lowered our rate but cut years off our mortgage. The process was incredibly painless and he quickly and helpfully answered every dumb question we had. Then, he helped us out of a very tight spot where a lender misled us into thinking we could afford a house that we really couldn't -- at least not without Rob's help! He pieced together a set of loans that kept us from having to back out of that deal, kept our closing costs affordable, and now we just closed on our first single family home. We should have gone with him to begin with. Can't recommend him enough."