Michigan – California – Indiana – Texas Mortgages | Loan Refinancing
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Military Service Home Loans

Thank You For Your Military Service

I am proud of our American service members. The American Military makes our lives better with their service. One of the ways I try to give back is by understanding all of the rules and regulations in California, Indiana, Michigan and Texas regarding government home loans for our enlisted men and women. Our enlisted people have families, and often the duties required by the American military require the family to pick up and move to a new home. Moving can be stressful enough. Trying to decide upon the best federal loan can add to the stress.

As a mortgage professional I can help military families navigate the often tricky government loan process. I also help military families use their home loan to plan for their future by finding the best loan to fit their military enlistment plans. No matter if your family is a life-long military family or a limited term enlistment, if you are in California, Indiana, Michigan or – I can help you find the best government home loan for your military situation.

I also offer the benefit of my 14+ years of experience. I know what paper work is needed, how it needs to be filed and how to follow up. All too often the follow up is a failure and people find that their loan acceptance and mortgage closing are delayed. This is where my expertise and attention to detail saves you time, money and stress.

 

Military Service Member Mortgage Specialist

 

VA Loan – Veteran Administration Loan

The VA loan program  is an option for qualified United States Military Veterans in securing a home loan by requiring little or no down payment. VA home loans are available to qualified veterans and guaranteed by the U.S. Veteran’s Administration. VA loan often offer lower interest rates than other available home loan options.  VA guaranteed loans offer the benefit and cost savings of not requiring private mortgage insurance like other home loans.

Potential VA borrower’s need to obtain the Certificate of Eligibility as required by VA mortgage rules and regulations. United States Veterans and active military personnel need to have served for a designated duration of time. The duration of time is depending on war or peace time regulations and rules, in order for the U.S. veteran to be considered eligible.  The Certificate states entitlement amount. Entitlement is the portion of mortgage that the VA will guarantee for each service person.

VA also offers help to veterans looking to refinance for a lower rate. The program is called IRRRL (Interest Rate Reduction Refinancing Loan), and it allows veterans to refinance at little or no expense to them. For additional information, you can visit valoans.com. Contact me for more details!

VA Loan seekers who do not have entitlement and are not VA eligible, should consider one of the other many products we have available. I can help you fill out all the necessary paperwork needed, and find the mortgage financing you deserve if you are stationed in California, Texas, Indiana and Michigan.

Huron Valley Financial offers a versatile array of loan programs, including:

  • Conventional Loans
  • FHA
  • FHA 203(k) Loans
  • VA
  • USDA, Rural Development
  • Debt Consolidation / Cash out Loans
  • Reverse Mortgages
  • HARP Mortgage Programs
  • HomePath Financing
  • Jumbo Mortgages

Conventional Loans

Conventional Loans are not insured or guaranteed by the government – instead, they follow guidelines set by Fannie Mae and Freddie Mac. You may be able to qualify for a conforming loan with as little as 3% down payment. If you’re looking to leverage the equity in your home, conforming loans will also lend up to 85% of your home’s value. The maximum limit for a conforming loan depends on the county and state you live in and can be found here: Fannie Mae Loan Limits. Contact me today for more details!
 

FHA – Government Loan Programs

FHA (Federal Housing Administration) loans are insured by a government agency with the US Department of Housing and Urban Development. These loans have been gaining popularity over the last few years. With attractive interest rates, and more flexible qualification requirements, a FHA Loan may be a perfect fit for you too! FHA loans require as little as 3.5% down payment, and will also lend up to 85% of your home’s value. If you are currently in a FHA loan, you may be eligible to lower your current rate with an FHA Streamline Mortgage. The Streamline process allows you to refinance without an appraisal, and with limited documentation. Contact me today for more details!
 

FHA 203K Loan

FHA also offers a special loan called the FHA 203K Loan. This loan is designed to help buyers purchase homes that are in need of repairs. This type of financing covers the cost of the home, as well as additional necessary home repairs. The loan amount is based on the projected value after the repairs are completed – not the traditional approach, of current appraised value. Contact me today for more details!
 
USDA / RD (Rural Development Loan)

A USDA loan (also called Rural Development Loan “RD”) is another type of financing insured by the government. RD loans allow buyers to purchase a home with NO money down. The program provides 100% financing to qualified buyers, and allows for all closing costs to be either paid for by seller or financed into the loan. To see more information regarding eligibility for USDA financing, visit http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do. Contact me for more details!
 

Debt Consolidation / Cash-Out Loan

If you owe less than what your house is worth, you may want to consider a debt consolidation or cash-out loan. With either type of loan, you refinance your mortgage for more than you currently owe, then take the left over funds to either consolidate other debt you may currently owe.. or leverage the funds for home improvements, purchasing a 2nd or vacation home, etc. Contact me today for more details!
 

FHA Reverse Mortgage

Are you 62 or older? Do you live in your home? Do you own your house free and clear, or have equity in your home. If you can answer “yes” to all of these questions, then a FHA Reverse Mortgage (also known as a Home Equity Conversion Mortgage (HECM)) might be right for you. A Reverse mortgage is a very special type of loan that lets you convert a portion of your equity into cash. One unique difference is, unlike a traditional home equity loan or second mortgage, HECM borrowers do not have to repay the HECM loan until the borrowers no longer use the home as their principal residence or fail to meet the obligations of the mortgage. You are also required to receive consumer information free or at very low cost from a HECM counselor prior to obtaining the loan. You can find a HECM counselor online or by phoning (800) 569-4287.
 

HARP (Home Affordable Refinance Program)

If you are looking to refinance, but haven’t been able to qualify for traditional financing because the value of your home has declined (or you currently owe more on your mortgage balance than you think your house would appraise for), you many qualify for HARP (Home Affordable Refinance Program). You may be eligible for HARP if you meet all of the following requirements: