Honoring Your Service with 0% Down Payment Mortgages
At The Onyx Group Mortgage, we express our deepest gratitude to the brave men and women who have served and continue to serve our country. Your dedication and sacrifice deserve recognition, and we're committed to helping you achieve the dream of homeownership through the powerful benefits of VA Loans.
What are VA Loans?
VA Loans are government-backed mortgages specifically designed for eligible veterans, active-duty military personnel, and their surviving spouses. These loans offer unparalleled advantages that make homeownership more accessible and affordable than ever before.
No Down Payment:
The most significant benefit of VA loans is the ability to purchase a home with zero down payment, eliminating the need for years of saving for a large down payment.
No Private Mortgage Insurance (PMI):
Unlike conventional loans, VA loans do not require private mortgage insurance, even with no down payment, further reducing your monthly costs.
Competitive Interest Rates:
VA loans typically offer lower interest rates compared to conventional loans, saving you thousands of dollars over the life of your mortgage.
Flexible Credit Requirements:
VA loans have more lenient credit score requirements, making them accessible even if you have less-than-perfect credit.
Limited Closing Costs:
VA loans have specific limitations on closing costs, saving you money upfront.
Assumable Loans:
VA loans can be assumed by qualified buyers, potentially making your home more attractive to future buyers.
What are VA Loans?
VA Loans are government-backed mortgages specifically designed for eligible veterans, active-duty military personnel, and their surviving spouses. These loans offer unparalleled advantages that make homeownership more accessible and affordable than ever before.
No Down Payment:
The most significant benefit of VA loans is the ability to purchase a home with zero down payment, eliminating the need for years of saving for a large down payment.
No Private Mortgage Insurance (PMI):
Unlike conventional loans, VA loans do not require private mortgage insurance, even with no down payment, further reducing your monthly costs.
Competitive Interest Rates:
VA loans typically offer lower interest rates compared to conventional loans, saving you thousands of dollars over the life of your mortgage.
Flexible Credit Requirements:
VA loans have more lenient credit score requirements, making them accessible even if you have less-than-perfect credit.
Limited Closing Costs:
VA loans have specific limitations on closing costs, saving you money upfront.
Assumable Loans:
VA loans can be assumed by qualified buyers, potentially making your home more attractive to future buyers.
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Who Qualifies for VA Loans?
Eligibility for VA loans is based on service requirements and other factors. Generally, you may be eligible if you meet one of the following criteria:
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Veterans
You have served 90 consecutive days of active service during wartime or 181 days during peacetime.
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Active Duty
You've served at least 90 days of active service and are currently on active duty.
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Guard/Reserve Members
You've served at least 6 years.
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Surviving Spouses
You may be eligible if your spouse died in service or from a service-connected disability.
Benefits of VA Loans
These specialized mortgage programs offer a range of benefits to help health care professionals achieve homeownership:
Affordable Homeownership
Achieve your homeownership dreams without a large down payment and with lower monthly payments.
Government Backing
The VA guarantee provides security to lenders, leading to more favorable loan terms for borrowers.
Types of VA Loan Programs
Why Choose The Onyx Group Mortgage for VA Loans?
The Onyx Group Mortgage is dedicated to serving those who serve our country. Here's why veterans and active-duty military personnel choose us:
Our team has extensive experience in helping veterans and active-duty personnel navigate the VA loan process.
We understand your unique needs and provide dedicated support every step of the way.
We offer some of the most competitive VA loan rates in the market.
We leverage technology and expertise to expedite the loan approval and closing process.
We are dedicated to serving those who serve our country.
Complete and Advance Guidelines for VA Loans
Certificate of Eligibility (COE): Obtain a COE from the VA to prove your eligibility.
Credit Requirements: While flexible, lenders still consider your creditworthiness.
Residual Income: Lenders assess your ability to cover basic living expenses after making your mortgage payment.
Property Requirements: The property must meet the VA's Minimum Property Requirements (MPRs).
Key Points of VA Loans
Millions of Veterans Served: VA Loans have helped millions of veterans and active-duty personnel become homeowners.
High Approval Rates: VA loans have higher approval rates compared to conventional loans.
Lower Default Rates: Veterans have a proven track record of responsible homeownership.
Frequently Asked Questions
Anything Unclear or Need Some Help? Relax, We Are Here for You 24/7
Relax and take comfort in knowing that our 24/7 support ensures you're never alone on your financial journey.
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NMLS# 397532
NMLS# 1416824
NMLS# 397532
(949) 396-1204
18071 Fitch Ste. 200 Irvine, CA 92614
kkennedy@emortgagecapital.com
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Onyx Group Mortgage is a division of Onyx, NMLS #397532 located at 6 Hutton Centre Drive, Suite 1030, Santa Ana, CA 92707. Onyx does not provide legal, tax, or financial advice or guidance and is not associated with any government agency. This is not an offer for an extension of credit nor a commitment to lend. Programs, rates, terms, and conditions are subject to change without notice. Certain restrictions may apply. All approvals are subject to underwriting guidelines and minimum credit requirements. Not all loans or products are available in all states. For current licensure information, please visit: www.nmlsconsumeraccess.org.
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