Maine Mortgage Solutions is proud to serve our Veteran’s. We have extensive knowledge of the VA mortgage loan process and are here to help every step of the way.
American Veterans deserve to realize the American Dream of Home Ownership. The VA mortgage program can help make this right a reality.
A VA based home loan is guaranteed by the U.S. Veterans Administration and issued by federally qualified lenders. Generally the VA loan program provides long-term financing and is easier to qualify for than conventional loans. The VA loan program has much lower minimum credit score requirements than a conventional loan. The VA determines a borrowers eligibility and rewards a certificate to eligible applicants who can then move forward with the lender of their choice. The guarantee from the Veterans Affairs encourages VA lenders to offer competitively lower rates which results in a VA mortgage program offering interest rates that are typically much lower rates than conventional mortgage interest rates. Borrowers will also have access to lower closing costs, because the VA limits fees that veterans pay at closing and also VA borrowers can ask the sellers to pay towards purchases costs with collections, insurance and prepaid taxes. VA borrowers are not subjected to prepayment penalties if they choose to pay off their mortgage early.