Buying your first house is a big deal, but it doesnt have to be a big hassle. Whether you're considering purchasing or refinancing your home, VACUs mortgage loan officers are here to help you every step of the way. To complete the application, your loan officer will gather additional information about you such as: Having all thenecessary informationwhen you apply saves time and helps your loan request move more quickly. * If youre refinancing, you can apply for your loan any time you are ready to move forward. The loan product and rate examples seen here are current as of 7/20/2022 11:04:34.

Your mortgage loan officer will let you know what documents and information are needed. While you are free to select your own real estate brokerage and title insurance company in connection with your mortgage transaction, we offer our members a voluntary program that includes listing discounts for sellers and rebates at settlement. Buying or refinancing a home is easier and you can feel more confident when you know what to expect. Other product and rate options are available. Virginia Credit Union offers a variety of mortgage programs to fit members needs. What to Expect During the Mortgage Process, Three Options to Use the Equity In Your Home. Once final approval is given, your loan will be prepared for closing. Protect your company name, brands and ideas as domains at one of the largest domain providers in Scandinavia. Discounts and special rates are available for these government loans if you meet certain requirements, such as first-time homebuyers. Get the confidence you need to make smart decisions about buying a home. Guiding you through this stage of the process will be your loan processor, who will work closely with your loan officer. This domain has been purchased and parked by a customer of Loopia. Good options if you plan to stay in your home for a while. Here's a guide to our mortgage loan process. Virginia Credit Union is offering a $500 discount on closing costs on new mortgage loans subject to qualification and credit approval.

Apply now Talk to a mortgage loan officer, Apply nowTalk to a mortgage loan officer, Good option if you are purchasing in a rural community, Available to eligible veterans as defined by theAdministrator of Veterans Affairs. See product details below including types of refinances available. Points are a percentage of the loan amount. Once you have submitted your application, a loan estimate disclosure package will be sent to you containing important information and documents for you to review, sign and return to proceed with the processing of your mortgage. Reminders: From the time you apply until after your loan closing, you should avoid doing any of the following, which could impact your mortgage request: Please contact your mortgage loan officer first if you must do any of these things. (804) 323-6800 Get startedby providing us with a few pieces of information so we can match you with a personal Mortgage Loan Officer.

Multiple loan options for property located in VA Loans for primary residences, second homes and land. You should apply as soon as you have made an offer that has been accepted and you have a fully executed sales contract. You can pay points at closing to receive a lower interest rate. Are you the owner of the domain and want to get started? Theycan meet with you by phone or schedule an appointment to meet with you at a branch. You will be notified of the decision as soon as it is available. Specifically to qualify for the rebate, you must be a Virginia Credit Union member and close your mortgage through Virginia Credit Union, use Virginia Statewide Title Services for title insurance, and use an agent from Virginia CU Realty as your buyers agent. Explore different loans that are offered for specific homebuyers or land type. Save at closing with ourmortgage rebate program. Create your website with Loopia Sitebuilder. 8 a.m. - 6 p.m. (ET) For example, when your loan officer mentions one point on a $100,000 loan, the loan officer is talking about one percent of the loan or $1,000. No, Monday-Friday, Before your loan closing appointment with a settlement agent or attorney, we will prepare and send you an initial closing disclosure for your review. Options with little to no down payment for qualified members. Rate/term refinances & cash out refinances A "rate/term" refinance refers to the refinance of a first mortgage balance to change the rate and/or term without advancing new money on the loan. A pre-qualification letter is a tool that says to the seller youre serious about your intent to buy. Your mortgage loan officer will then guide you through the entire process from start to finish. Your actual rate and APR are dependent upon your application and may vary based on factors such as your credit score, loan purpose, occupancy, property type, loan amount, and the value of your home. The more you know and plan, the better off youll be throughout the process. Give us a call anytime Monday through Friday from 8:00am-6:00pm. This list will help you gather information and documents for your mortgage application, to help get the mortgage process off to a fast and efficient start. It doesnt have to be a big hassle. Not available in all areas. Please contact your settlement agent in advance to verify the final amount and payment method of any funds you need for closing. Yes That way you can move quickly when you find the home you want. Learn more aboutwhat to expect during closing. The closing cost reduction will be limited to the lesser of $500 or lender closing costs and may not exceed maximum seller contribution limits set by program guidelines. You can decide you dont want to pay or receive points at all. You can lock your loan rate once weve received your signed documents, application deposit, and fully executed sales contract if a purchase. Please provide some brief information for a mortgage loan officer to contact you. When you get your mortgage loan through Virginia Credit Union, use an agent from Virginia CU Realty as your buyer's agent, and use Virginia Statewide Title Services for your title insurance, you could save hundreds. These traditional loans have either a fixed-rate or a lower initial monthly payment. Whether you're buying your first home or refinancing a current mortgage, Virginia Credit Union is there at every step. Use LoopiaWHOIS to view the domain holder's public information. Once everything is completed, youll receive the keys to your new home! Mortgage loan must close by 12/31/2022. Rebate void where prohibited. How much will I save by increasing my mortgage payment? Financing Your Dream Home with a Construction Loan. Whether youre thinking about a starter home, upsizing, downsizing, or just looking for a change of scenery, this is the webinar for you! Read more at loopia.com/loopiadns . Learn more aboutrate locks. Once we have your signed documents and application deposit to proceed, we will order an appraisal and preliminary title work for the property.

Is the property located in the state of Virginia? Buying a home is one of the biggest financial decisions youll make in your life. Frequently asked questions about construction loans. Work with yourmortgage loan officer to find a solution based on your individual needs and goals. Purchases & refinances Loan programs listed here are available for purchases and refinances unless otherwise noted. This is called a zero point loan. It cannot be combined with any other promotion or discount and is subject to compliance with Virginia Credit Union's loan program guidelines. Frequently asked questions about mortgages. With a "cash out" refinance, additional funds are advanced, such as for home improvement, debt consolidation or other purposes. U.S. Department of Agriculture (USDA) Rural Development Loan, HomeReady Loan (Federal National Mortgage Association), Virginia Housing Development Authority (VHDA) FHA Plus Loan, Virginia Housing Development Authority (VHDA) with FNMA No MI. We offer options for single-family homes, town homes, warrantable condos, modular homes, and manufactured homes. Search available domains at loopia.com , With LoopiaDNS, you will be able to manage your domains in one single place in Loopia Customer zone. Talk to a mortgage loan officer to discuss your options. Move money from one financial institution to another. Our full-featured web hosting packages include everything you need to get started with your website, email, blog and online store. How much will my fixed rate mortgage payments be? At the loan closing meeting, the settlement agent will review the closing documents with you and ask you to sign them. Your mortgage loan officer will talk with you to learn about your individual situation and help you evaluate your options based on things such as: Before you go home shopping, you should consider gettingpre-qualifiedfor a set loan amount. This promotion is valid on new applications submitted between 04/01/22 and 09/30/22. Interest rate and APR are updated daily and subject to change without prior notice. Or you can choose to have points paid to you (also known as a lender credit) and use them to cover some of your closing costs. Your VACU mortgage team will assist you throughout. Our mortgage loan officers are here to help you evaluate the options that best fit your needs. The loan decision involves reviewing the property, your loan application information and documentation, the amount you are requesting, and the specific loan program requirements based on your income, debts and assets. You can view assumptions and a payment example by clicking on a rate or APR above. How much will my adjustable rate mortgage payments be? This includes your authorization for us to collect an application deposit that will be applied toward the cost of your loan. There are three main choices you can make about points. Your loan officer will answer all your questions and assist you with finding the mortgage option that fits your individual needs. (800) 285-6609. This is a statement of loan terms and closing costs, which includes any funds you will be receiving or that you may need to provide for closing. Certain restrictions apply. This offer can be used in conjunction with the VACU Realty, Virginia Select, and Joyner Fine Properties rebate. A mortgage loan officer with knowledge and support to help you at every step of the way. Your processor will talk with youabout any additional information and documents needed, complete verifications such as employment, assets and liabilities, answer questions you may have, and keep you updated on the progress of your loan. Whether youre looking to purchase or refinance, we got you! Contact a mortgage loan officerdirectly and submit a request for to be contacted about a home purchase loan or refinance. Your loan officer is a mortgage expert who will answer all your questions and discuss options to help you find the right loan for you. We will also prepare your loan documents and send them to the settlement agent/attorney handling your closing. What to Expect During the Mortgage Process, Approximately how much you want to spend on your new home, How much money you have for a down payment and, How much you are comfortable with for your monthly payment, Borrower information The basics about you, Income Where you work and how much you earn, Assets Source of funds for your down payment and closing costs. Lenders offer different interest rates on loans with different points. Construction loans can be complicated, so lets break down this option and what the home-building process could look like for you. Can lower your monthly payments by refinancing your original VA-backed loan, If you have a variable rate, this converts your loan to a fixed interest rate, Easier, faster paperwork allows you to refinance your loan more quickly, Good option if you plan to stay in your home for a while, The principal and interest portion of your payment stays the same for the term of the loan (escrow amounts such as property taxes and insurance may change), Loans up to 95% of your primary single-family homes value are available for purchases and rate/term refinances, or up to 80% for a cash out refinance, Loans up to 97% of a homes value are available for first-time home buyers, Financing options for second homes and investment properties, Private mortgage insurance (PMI) required for loan to value ratios greater than 80%, Good option if you want a lower initial monthly payment or think you wont be in the home for many years, May be a good choice if rates are expected to go down in a few years so you could refinance with a fixed-rate loan, Rate changes will affect your monthly payment, Primary residence and second home financing available, Private mortgage insurance is required for loan to value ratios greater than 80%, Purchase loans, rate/term refinances and cash out refinances available, Rate-term refinances available up to 95% of your homes value, Cash out refinances available up to 80% of your homes value, Good for first-time home buyers or others with down payment as low as 3.5%, Monthly mortgage insurance premium is required on all FHA loans, Income, sales price, and property eligibility restrictions apply, No down payment required for purchase loan, Good for FHA mortgage holders looking to refinance and lower their monthly payments, Save time and money with less paperwork, often without an appraisal, Must refinance a current FHA mortgage loan in good standing, Available for mortgage balances greater than conventional or government thresholds, Adjustable-rate mortgage (ARM) for purchase or refinance of land or a lot, Rate may adjust annually, but not more than 2% annually or 5% over the life of the loan, Good option if you are building a new home, whether you own or are planning to purchase the land, Loan covers the cost of constructing a home and can include the land purchase or pay off an existing land loan, Fixed-rate loan with 6, 9, or 12-month construction term options, Easy-to-use digital platform to help you manage your draws and overall construction project, Once construction is complete, VACU can help you transition to a standard mortgage, For doctors, dentists, veterinarians, and more, Flexible source of funds, such as a Community second mortgage within certain limits, may be used for down payment and closing costs, Purchase loans and rate/term refinances available, Income, sales price, and property restrictions apply, Buyer must provide 1% of own funds toward the transaction, In addition to VHDAs FHA-insured first mortgage, qualified borrowers may obtain a second mortgage within certain limits to help fund the down payment and closing costs, Down payment assistance may be available through VHDA, Income and sales price restrictions apply, For qualified current or previous home owners, Up to 100% financing available on homes valued up to $500,000.

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