VA LOAN CONSUMER GUIDE

VA LOAN CONSUMER GUIDE

Pursue Your Homeownership Goals with Ease

Sean Biggins

Loan Originator NMLS: 448009 Office 843.258.7015 Cell 843.603.4615 sean.biggins@

TAKE ADVANTAGE OF THE BENEFITS YOU'VE EARNED

Did you know VA home loan program offered by the U.S. Department of Veterans Affairs is the only mortgage program broadly available that offers borrowers zero down payment and no monthly mortgage insurance. Plus, with `make-sense' underwriting, reasonable credit and income requirements and very low interest rates, the VA loan is among the best value home loan programs on the market. Yet, only 6% of all eligible U.S. veterans and active duty service members took advantage of this benefit over the past five years according to the U.S. Department of Veterans Affairs. Why are so few veterans choosing a VA loan? There are several reasons: ? Unaware of the VA loan program or are working with lenders not equipped to handle VA loans ? Worried the multi-step procedures will slow down the process, making it difficult to accurately

predict a closing date ? Frustrated by red tape, confusing guideline and complex government process

THERE IS A BETTER WAY!

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A FIRST-CLASS PROCESS FOR OUR MILITARY HEROES

At PrimeLending, we've perfected the VA home loan process for military families, and since 2012, we've helped nearly 25,000 veterans realize their dreams of homeownership. On the following pages, we'll walk through what you need to know about VA home loans, and how the PrimeLending approach makes it simpler and less stressful to get your loan:

? VA experts who know ins and outs of process

and will manage it for you

? Predictable, transparent and timely process

you can rely on

? Flexible loan options for your situation ? Competitive rates and savings possibly in the

thousands

DO YOU QUALIFY FOR A VA HOME LOAN?

You may be eligible for a VA home loan if you and/or your spouse served or are serving in the Army, Navy, Air Force, Marines, Coast Guard or National Guard and meet one or more of the following requirements:

Have a valid Certificate of Eligibility

Active service duty for 90 consecutive days of combat

Active service duty for 181 days of peace

Served 6 or more years in the National Guard or Selected Reserve

Are a spouse of a veteran who died while in service or from a service-connected disability

SAVE MORE WITH OUR VA NO LENDER FEE LOAN1

For a limited time, we're waiving our lender fees on VA loans! This could save you an additional $1,000 by eliminating the costs associated with underwriting, closing,

document preparation and processing.

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OUR VA LOAN OFFERS THE FINEST BENEFITS WORTHY OF OUR HEROES

Our VA home loan program has all the amazing benefits you deserve, without any of the hassles you've come to expect from government programs. Our VA experts will help you understand your options, navigate the VA loan system and find a solution that lets you put more money into your home.

NO DOWN PAYMENT

You won't have to stress over how much money to put back every month or sacrifice your quality of life to save for the down payment. When you qualify for a VA loan, you won't have to put a cent down. To put into context, many conventional mortgages require up to 20% down payment.

NO PMI

PMI, or private mortgage insurance, is protection for the lender if a loan defaults. For conventional loans, PMI can be charged monthly to a borrower unless they put 20% or more down on a loan. That can add up to hundreds of dollars every month. With our VA loans, you don't have to worry about paying PMI each month, which may save you thousands per year.

EASIER CREDIT REQUIREMENTS

You know the drill: the lower the credit score, the higher the interest rate for most programs. For military members, qualifications are less rigid, meaning your credit score doesn't have to be perfect to qualify for a lower rate.

BUY A SECOND HOME

Even if you've already taken advantage of your VA loan benefit, we may still be able to help you get your VA home loan eligibility restored. If you qualify for a one-time restoration of benefits, we can help you apply for a new VA mortgage.

VA BACKING

All VA loans are backed by the government. Many of the risks and costs associated with conventional loans aren't on your shoulders with a VA home loan. As veterans, you're offered exclusive benefits, competitive loan options and quality rates that you deserve, while keeping your money where it belongs: in your account.

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VA LOAN OPTION FOR YOUR SITUATION

We can guide you through the process and help you make the best decision.

30-YEAR FIXED

Stability and predictability. That's what you're looking for in a monthly payment, and that's exactly what you're getting with a 30-year fixed-rate mortgage. It's a great option if you're planning to settle down in one house for an extended period of time.

15-YEAR FIXED

If you're interested in building more equity in your home, having a lower interest rate and paying off your mortgage sooner, a 15-year fixed-rate mortgage may be the route for you. You'll pay more monthly, but your equity will also build quicker.

ARM OR ADJUSTABLE

Flexibility is often key to active duty military, and an adjustable rate mortgage provides just that. ARM homeowners that are expecting to move within the next few years pay lower interest rates during the first few years and typically decide to move or refinance before it adjusts higher.

JUMBO

VA jumbo loans can be used on homes up to $1.5 million and require a down payment that is much lower than the traditional 10% on conventional jumbo loans.

IRRRL REFINANCE

An Interest Rate Reduction Refinance Loan (IRRRL) can help you improve your financial situation by lowering your monthly payment, changing the term or turn an adjustable-rate mortgage into a fixed-rate mortgage. With this kind of loan, there are no out-of-pocket expenses, appraisal or credit underwriting, and no income or asset verification.

VA RENOVATION LOAN

A VA renovation loan from PrimeLending offers the same benefits as a traditional VA loan, but with additional options to help fund repairs or upgrades to a fixer upper. A renovation loan allows you to roll home improvement costs into one loan and one monthly payment.

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