OFFICE 925-231-7505
BAYSIDE MORTGAGE AND REAL ESTATE SERVICES, INC. (DBA BMRES)
Updating ,, Company thanks all the first responders and front liners against this nasty Virus. May God bless you and America, and the rest of the world's people to be well and safe.
*Offering Covid-19 Relief Packages to our American Heroes !
The VA loan is a $0 down mortgage option available to Veterans, Service Members and select military spouses. VA loans are issued by private lenders, such as a mortgage company or bank, and guaranteed by the U.S. Department of VeteransAffairs (VA).
You may be eligible for a VA loan by meeting one or more of the following requirements: You have served 90 consecutive days of active service during wartime, OR. You have served 181 days of active service during peacetime, OR. You have 6 years of service in the National Guard or Reserves, OR.
Top 10 VA loan benefits
No down payment on a VA loan. ...
No mortgage insurance for VA loans. ...
VA loans have a government guarantee. ...
You can shop for the best VA loan rates. ...
VA loans don't allow a prepayment penalty. ...
VA mortgages come in many varieties. ...
It's easier to qualify for VA loans. ...
VA loan closing costs are lower.
*What is a FHA loan and who qualifies?
A Federal Housing Administration (FHA) loan is a mortgage that is insured by the Federal Housing Administration (FHA) and issued by an FHA-approved lender. FHA loans are designed for low-to-moderate-income borrowers; they require a lower minimum down payment and lower credit scores than many conventional loans.
What is the difference between a conventional loan and a FHA loan?
Conventional loans require borrowers to pay for mortgage insurance if their down payment is less than 20%. FHA loans require mortgage insurance regardless of down payment amount. Other differences are: ... FHA mortgage insurance premiums last for the life of the loan if you make a down payment of less than 10%.
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