VA loans are basically Veterans Affairs Mortgages that are created to help veterans and their surviving spouses purchase a house without having to pay any down payment. These loans are not funded by the government; they are offered by private lenders and guaranteed by the Department of Veteran affairs.

Through a VA loan veterans can have 100% financing without applying for private mortgage insurance; VA loans also provide limiting closing costs.

e-Finance Mortgage LLC has helped numerous veterans across the country purchase their dream houses. We’re proud to announce that our brokering and financing services are now available in Georgia!

Georgia VA Loans Benefits

  • No credit score requirements
  • Veterans don’t need private mortgage insurance (PMI)
  • There’s no penalty for pre-payment
  • Closing costs are significantly lowered.
  • Veterans can receive up to $424,100 through a VA loan.

The majority of veterans, military and surviving spouses of injured or deceased members of the military can apply for Georgia VA loans. Once the duty service requirements are met, veterans/military members can apply for VA loans at any time.

Current members of the military and apply for VA loans after completing 6 months of service. On the other hand, reservists and members of the National Guard will have to wait for 6 years to apply for a VA loan but if they are called to duty during this period, they eligible for VA loans after 181 days of active-duty.  Prior to applying for a VA loan, all applicants will need to obtain a Certificate of Eligibility (COE). In case you don’t have a COE e-Finance Mortgage LLC can help you get it through the application process.

There is no official credit score requirement to qualify for a VA loan in Georgia but lenders prefer if the borrowers have a credit score around 620. Since the credit score requirement isn’t official, lenders usually accommodate according to the borrower’s needs. All applicants should be ready to submit W-2 statements, checking and savings account information, and recent paystubs. Any other documentation that verifies income and shows your capability of repaying a loan should also be submitted.

Those with existing Georgia VA loans can opt for refinance programs. Those who require extra expenses for debt consolidation with high-interests and home improvement can opt for VA cash-out refinance loans. The Interest Rate Reduction Refinance Loan (IRRRL or the VA’s streamline refinance loan) can be used by those who’re looking for lower monthly payments.

e-Finance Mortgage LLC is dedicated to guiding veterans across the state of Georgia through their VA loan applications. Feel free to contact us for more information you may require regarding VA loans in Georgia.