(Brentwood, 01/13/2018) – According to the Mortgage Investors Group (MIG), about 80 percent of VA borrowers could not qualify for a conventional home loan. To address the housing needs of veterans and other qualified personnel, MIG assists them in obtaining a VA loan.
Accommodating Eligible Members
VA loans guarantee better financing rates and terms for veterans. In fact, Investopedia states that a VA loan can offer up to 100 percent financing on the value of a home. But veterans must first secure a Certificate of Eligibility before applying for a VA loan.
For veterans and military members seeking expert advice and help, MIG readily provides their services. The Knoxville, TN-based lender assists active military personnel, veterans, and spouses of fallen members.
The company shares, “MIG will first get a Certificate of Eligibility from the Department of Veterans Affairs for the borrower. This certificate will verify if the veteran has a VA entitlement and can participate in the program. A VA-approved lender can help a borrower obtain the form, or the veteran can request it online.”
Eligible members can then apply for a VA loan with MIG.
Benefits of a VA Loan
VA loans are the perfect way for members of the service to become homeowners. MIG explains, “VA loans are very popular because they do not require a down payment (up to conforming loan limit) and underwriting standards offer more flexibility when qualifying a veteran, compared with conventional mortgages.”
But there are far more advantages to a VA loan than having no down payment, including:
1. Low, competitive interest rates
2. Flexible credit, income, and debt requirements
4. No prepayment penalties
5. Loan is assumable
6. Available to eligible borrowers with a prior bankruptcy or foreclosure
About Mortgage Investors Group
In 1989, Chuck Tonkin II and Chrissi Rhea opened Mortgage Investors Group (MIG) with five colleagues. Now trusted lender in Knoxville, Tennessee for more than 28 years, MIG continues to fulfill homeownership dreams all around the state with 400 employees and 24 branches. As the Tennessee Housing Development Agency’s best lender for 14 years straight, MIG has served more than 100,000 clients in excess of $16.5 billion.
Visit https://migonline.com/ today for further information.