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VA Loans

American Pacific Mortgage Corporation proudly offers mortgage loan products for active-duty military and veterans. 

A VA loan is a mortgage loan guaranteed by the U.S. Department of Veterans Affairs (VA) that is available to most U.S. service members. VA loans offer a loan guaranty benefit to help eligible veteran borrowers refinance or buy a home. VA loans do not require any monthly mortgage insurance included in the loan amount, and a veteran borrower could purchase a home without putting any money down.

To check your eligibility for a VA Loan, call us at 206-423-2552


Basic VA Home Loan Requirements

What can a VA loan be used to buy?: Primary residence home only
Maximum Loan Amount: $484,350 for single family home in Most Counties of Florida. *2019 limits. Monroe County has a higher limit of $529,000. Both amounts listed are the maximums allowed where a down payment wouldn't be required.
Down Payment Requirement: 0% of the purchase price unless the loan amount goes above the Maximum Loan Amount allowed or based on a low appraised value.
Available Loan Terms: 15 and 30 year fixed mortgage
Is Monthly Mortgage Insurance Required?: No. This is a great advantage of VA Loans. But there is an upfront funding fee required at closing, in most cases.
Are there Property Eligibility Requirements: Yes. A home’s general condition is considered during a VA appraisal. VA Minimum Property Requirements or “MPR” are an important part of the VA loan process. One of our VA Loan Specialists can provide the current standards provided by the U.S. Department of Veterans Affairs.
Income Eligibility Requirements: 
No minimum or maximum income limits but you are expected to have a stable, reliable income that can cover your monthly expenses, including the new mortgage payment. You will also be required to meet VA’s residual income requirements and The Kenton Becker Mortgage Team will facilitate this process with you.

Are Seller Paid Closing Costs allowed: Yes. For a VA Loan, the seller may pay up to 4% of the purchase price towards closing costs plus normal fees that they would typically pay.
Are gift funds allowed?: Yes. For VA Loans, a borrower may receive unlimited gift funds for a primary residence purchase.

Advantages of a VA Home Loan

  • You can buy a home with no down payment (certain eligibility requirements apply).
  • You can refinance for up to 100% of the value of your home.
  • You never have to pay PMI (Private Mortgage Insurance).
  • Sellers can pay your closing costs.
  • If you already have a VA Loan you might be eligible for a VA Streamline Refinance.
  • Disabled Veterans may qualify for a waiver of the Funding Fee if they receive any disability payments from the VA.

Get Pre-approved for a VA Mortgage Today

American Pacific Mortgage Corporation specializes in VA loans.  We love helping to guide veterans through each step of the VA home loan process.  

Contact Our Team today to get started on your VA pre-approval.

206-423-2552

Or start your pre-approval online here

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