Spurr Mortgage

233 E. 10th Street Plaza

Suite 3

Edmond, OK 73034

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VA Loan

Serving in the military is one of the greatest sacrifices an American can make. All who’ve enlisted for active duty during peacetime or war are heroes to our country. Those who sign up to protect our freedom deserve honor and respect. It’s with pride that we can offer veterans assistance when it comes time to buy a house or refinance.

The VA Loan program

VA loans have always been a unique opportunity for those in the service, retired, or in the reserves to buy a house, but the recent changes in the housing market over the past several years have made this benefit even more advantageous. When compared to other mortgage options like conventional loans or FHA loans, the VA loan outperforms them all:

  • ZERO money down – 100% financing.
  • NO PMI insurance on the loan.
  • Lower interest rates on VA loans.
  • More lenient on loan qualifications.
  • No pre-payment penalties for the loan.
  • Cash-out options for VA loan refinances.

Qualifying for a VA Loan

Because the Federal government backs up the VA loan, qualifications may be relaxed for active and non-active military. The VA loan requires a 620 credit score, however as certified credit experts, we can help you even if you don’t have that score. Please contact us for assistance on qualifying for your VA loan benefit and credit restoration services.

Certificate of Eligibility

To begin the process of your VA loan, you will need your Certificate of Eligibility (COE). This indicates that you are eligible for the VA loan program. You may obtain this certificate yourself, or, we can obtain it for you. As VA loan specialists, we have access to an online database and can pull all the paperwork we’ll need for your loan in a matter of minutes.

Understanding your VA Loan Benefits

The VA home loan is designed to offer active and non-active military real estate benefits. You can choose to use your VA loan benefits right away, or hang on to them throughout your lifetime. If you’ve ever served in active military or in the reserves/National Guard – you will always have the VA loan benefit at your disposal. You can choose to use it when you’re ready to buy a house as your primary residence, even if your active duty was some time ago. The VA Loan benefit:

  • Never expires – you can use it throughout your lifetime.
  • Can be used every time you purchase a home as your primary residence.
  • Can be used even if you’re not currently serving – or have no plan to go back.
  • Applies to all branches of the military.
  • Can be refinanced to a lower rate.