Why our mortgage team supports veterans.

A veteran — whether active duty, discharged, retired, or reserve — is someone who, at one point in his or her life, wrote a blank check made payable to the “United States of America” for an amount up to and including his or her life. Above all, at the Jasper Mortgage Group, powered by Benchmark Mortgage, it is our mission to honor and support our veterans accordingly. We support our veterans by providing them with all the VA loan resources they will need.

Links For VA Loan Resources

The VA Loan
Process
Our Commitment
To Veterians
FAQ
VA Loans
Realtors
VA Information
Property
Requirements
COE
VA Eligibility
Download
PCS Basic Guide
VA Loan
Questions

5 Common VA Loan Myths

Weak Buyer

Zero Down = Weaker Buyer

  • Median FICO score: 725
  • Median household income: $88,700
  • Average loan amount: $255,539

 

VA Loans Take Longer To Close

VA loans take longer to close.

Conventional loans are black and white.  But there is a grey area for VA loans. Meanwhile, we provide certainty in the marketplace.

Average turn time for an application to close (2021):

  • 47 Days = National Average
  • 24 Days = Us

 

Seller Has To Pay

The seller has to pay the Veteran's fees.

Any lender cost charged to veterans is capped at 1% of the loan amount. On the other hand, we waive the "non-allowable" closing cost so that neither the buyer nor seller has this extra burden. However, some inspectors do free termite inspections for veterans.

 

NationalGuard-web

National Guard/Reservists don't qualify for a VA loan.

There are different eligibility requirements for the National Guard and reserve members. But these members may still qualify for the same VA-home loan benefits.

 

Only One Loan

You can only have ONE VA loan at a time.

The VA will allow for the financing of more than one property. But the veteran has sufficient eligibility and will occupy the property as their primary residence.

 

VA Appraisal Are Harder

VA appraisals are more challenging.

VA has two appraisal rebuttal processes. Initiate tidewater and reconsideration of value (up to 21 days). With a VA appraisal, if the appraiser cannot justify the purchase price, the lender and realtors have an opportunity to provide additional data to the appraiser before the final report.

 

Our Dedication To Helping Veterans Get Their Dream Home

The VA Loan Process

The VA Loan provides up to 100% financing for veterans who qualify. Most importantly, this allows veterans to purchase a home with no down payment or required Mortgage Insurance (MI).

Above all, we want to ensure our veterans get the American dream they served to protect. When it comes to VA loans, our team of certified Veteran Specialists is the special forces of the mortgage industry and wants to provide you with the best transparent VA loan resources.

  • Aug 4, 2022

    1. Verify Eligibility & Loan application

    The first step is verifying your VA loan eligibility by obtaining your Certificate of Eligibility (COE). The COE is issued by the Department of Veterans Affairs. You can start filling out your loan application by clicking here.

  • Aug 4, 2022

    2. Apply and Provide Documentation

    Provide us with all military, personal, and financial documentation required to get Pre-Approved. We are certified veteran mortgage specialists with the knowledge and passion for helping veterans like you achieve the American dream of homeownership. 

  • Aug 4, 2022

    3. Pull Credit

    With your permission, we will pull your credit. Our minimum credit score requirement for VA financing is 580 (some restrictions may apply).

  • Aug 4, 2022

    4. Approval

    After a thorough review of VA eligibility, credit, income, and asset documentation, our team will:

    1. Issue a Pre-Approval to present Realtors, and you may begin the home buying process.
    2. Consult with you on any issues that result in a denial of a Pre-Approval Letter.
    3. If necessary, refer you to a Credit Repair Consultant.
  • Aug 4, 2022

    5. Make Your Offer

    Once you find your dream home and are ready to make an offer, it is extremely important that your Realtor understands how to properly “Present a VA Offer that Sellers Will Accept.” We train Realtors on the VA loan process and how to make a strong VA offer.

  • Aug 4, 2022

    6. Processing and Underwriting

    You have found your home, made an offer, and are now under contract to purchase! At this point, your loan documentation will be submitted to one of our experienced VA Underwriters for review.

    Our underwriters are experts on the VA guidelines and have a history of succeeding in situations that other lenders have said were impossible.

  • Aug 4, 2022

    7. VA Appraisal

    Our team approaches the VA appraisal process more aggressively than most lenders. Our appraisal team will ensure this process goes smoothly for all parties involved, both buyers and sellers. We have a dedicated team for all VA appraisal orders.

  • Aug 4, 2022

    8. Closing

    Once the loan is "Clear to Close," a closing time will be scheduled at the attorney's office on your closing date. Once you have finalized all of your paperwork and the property is recorded, you will take ownership of your new home and be presented with keys. Congratulations, you are now a proud veteran homeowner!

FAQs

General FAQs

What Real Estate Agents Should Know About VA Loans

You just went under contract. Now what?

VA Loan Resources For Realtors

Above all, our team advocates for veterans to use their VA home loans.

Zero down and no monthly mortgage insurance are two of the amazing benefits qualifying veterans have earned by serving our country. Accepting an offer with VA financing is one very small way you can say “thank you” to our servicemen and women.

Check out our realtor tools for more resources.

Benefits of working with our team for your VA Clients:

  • Zero percent down.
  • No monthly mortgage insurance.
  • Multiple VA loan usage is allowed in specific scenarios.
  • Qualified surviving spouses may use the benefit.
  • We do quick closings.
  • Local lending teams (No call centers, your clients will speak to a loan officer)
  • In-house underwriting, closing, and funding team.
  • Disabled vets may be exempt from the funding fee.

Our commitment to the seller and the listing agent.

  • VA loans are our specialty.
  • Our team is approved for the automatic processing of VA loans.
  • We have also taken the extra steps to become “LAPP” approved under VA’s Lender Appraisal Processing Program.
    • Primarily this means that our loans are processed and closed in-house without waiting for the VA’s approval of the veteran or property. Taking these extra steps allows us to reduce the time required to close a VA loan.

6 reasons to go with our team for VA home loans:

  • Benchmark has very few guideline overlays.
  • We know the VA guidelines and the guideline exceptions.
  • We offer a wide variety of VA products.
  • Speedy closings
  • Free COEs

Do you qualify for a VA loan?

  • Active duty members who have served for 90 continuous days or 181 days during peacetime.
  • Active reserve or national guard with six years in selected reserves with 16 points.
  • Surviving unmarried spouse. The veteran must have died on active duty or from a service-connected disability.
  • POW/MIA spouse. The veteran must be POW or MIA for 90 days.

VA Minimum Property Requirements

1. No safety hazards.

2. No lead-based paint.

3.  No asbestos.

4.  Windows on the first floors need to be screened.

5. No visible debris in the crawl space.

6. Can not have chipping paint.

7. All windows have to be operational.

8. Handrails with 36” drop.

9. Splash blocks from gutters.

10. Electrical

11. GFCI within 2 feet of the water source.

12. Old electrical boxes are okay if they are functional.

13. No exposed exterior wood.

14. No visible insect damage.

15. Trees cannot touch the rooftop.

Have more questions about VA loans or need more VA loan resources? Reach out to us today.

Team Phone Line: 984.999.7799
Email: Christina.Jasper@Benchmark.us