ABBA First Mortgage, Inc. is pleased to announce that we now offer Veterans Administration Home Loans or VA loans.

The VA loan was designed to offer long-term financing to American veterans or their surviving spouses (provided they do not remarry). The basic intention of the VA direct home loan program is to supply home financing to eligible veterans in areas where private financing is not generally available and to help veterans purchase properties with no down payment.

Some of the benefits of a VA loan include:

• 100% financing without private mortgage insurance.
• VA loans allow veterans to qualify for loans amounts larger than traditional Fannie Mae / conforming loans.
• VA will insure a mortgage where the monthly payment of the loan is up to 41% of the gross monthly income vs. 28% for a conforming loan assuming the veteran has no monthly bills.
• VA allows the seller to pay all of the veteran’s closing costs as long as the costs do not exceed 4% of the sales price of the home.
• The maximum VA loan amount with no down payment is $417,000 and can be as high as $625,500 in certain high cost areas.

We are thrilled to be able to bring our level unparalleled customer service to the brave men and women that have so selflessly served our country.  If you would like to take advantage of this program, please apply online right here on our website- be sure to complete the Full Online Application. Once we receive your application, one of our experienced loan officers will contact you to review the application and discuss the next steps.

Please feel free to contact us if you have any questions. Thank you for the opportunity to EARN your business and your trust- we do not take it for granted!

This entry was posted on Friday, September 11th, 2009 at 3:28 pm and is filed under Consumer Information, Corporate News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.