We are pleased to announce that 7 Mortgage now offers VA Loans. Extending these products to those who have served the U.S. is a great honor. Great benefits like 100% financing, No PMI, no flipping restrictions, and more are just the beginning!
- Eligibility – Be an eligible veteran or active duty service member.
- Credit- Be able to meet the VA and lender’s credit Standards. Flexibility with lower credit scores, bankruptcies, foreclosures, and collections may be available.
- Income- Have enough qualifying income to support the mortgage payment and existing consumer debts.
- Assets- Be able to produce valid asset documentation if needed.
Eligibility – A Certificate of Eligibility (CPE) must be issued from the VA to make a final determination for eligibility. The VA considers the following before issuing the CPE:
- You have served 90 consecutive day of active service during peacetime. or
- You have served 181 days of active service during peacetime. or
- You have more than 6 years of service in the National Guard or Reserves. or
- You are the spouse of a service member who has died in the line of duty or because of service- related disability.
- Single Family
- Multi-family up to 4 units
- Manufactured Homes
- Purchase Loans- Up to 100% financing with no money down and the seller is permitted to pay closing costs.
- Cash Out Refinance- Financing up to 100% of the current value of your home. The proceeds may be used to pay off your existing mortgage, consolidate debt, or for home improvements.
- VA IRRRL- Sometimes referred to as a VA Streamline Loan. Allows borrowers with a current VA loan to refinance to a lower rate if available. Appraisal, income, or asset verification typically isn’t required
You’ve served the U.S. Now let us serve you!