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VA Loans (Veterans Affairs)

VA Loans (Veterans Affairs)VA Loans (Veterans Affairs) are mortgages made by banks but guaranteed by the department of Veterans Affairs. The key aspect of the VA loans is that it allows you to purchase a home without a down payment and without mortgage insurance.

You are required to pay a funding fee to the VA ranging from 0 to 3.15% but that funding fee can also be financed. For most purchasers the funding fee for first time use is around 2.15%. VA Loan is a better option than FHA because there is down payment requirement and no monthly mortgage insurance which can be quite expensive.

VA Loan Requirements

When I first meet with a potential VA eligible client, I instruct them to get their certificate of eligibility from VA which outlines the entitlement that the client is eligible for. With that in place we can determine maximum loan calculations and other detailed items.

VA Loan (Veterans Affairs) is a great loan product for a eligible veteran or surviving spouse whether you are in Long Island, Queens or Brooklyn. VA debt to income ratios can be a little tighter with a maximum of 41% but is by far better option than FHA if qualified. Although the VA does not designate minimum credit score requirements, most banks will require a minimum score of 620.

If you are an eligible veteran or service member who is looking at purchasing a home, this is the ticket!

VA Loan Specialist

 

Gil Citrin Mortgage Loan OriginatorGil Citrin served in the US Army from 1970 to 1973. Basic training was at Fort Jackson, South Carolina. Gil actively served in the Vietnam War.

He was stationed outside of Saigon for a year as an administrative specialist. His remaining two years active duty, back in the states.
Following his three-year active commitment Gil was in the reserves for 3 years.

Gil is proud to have served his country and as an Army veteran.

He looks forward to helping other active military and veterans fulfill the dream of owning their own home.

Ready to get started today?

Contact Gil for more information or fill out form to request a custom quote!

 

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Accreditation & Awards

  • A+ Rating with Beter Business Bureau (BBB)
  • Over 19 years of experience
  • Voted The Best Mortgage Company on Long Island
  • New York Association of Mortgage Brokers NYAMB
  • National Association of Mortgage Brokers NAMB
  • www.benefits.va.gov/homeloans/