Ogden Mortgage Loans is a VA mortgage lender for VA Home Loans located in Ogden,Utah, close to Hill Air Force Base, Utah (HAFB). Ogden Mortgage Loans provides VA Home loans to veterans residents and those that are buying homes in all areas of Utah. We are located in Ogden Utah,
VA Mortgage Loan Benefits
No Prepayment Penalty VA mortgage loans do not have a pre-payment penalty if you are to pay off your loan early. A prepayment penalty is a provision in loans that in the event you pay off the loan entirely before a certain time period you will pay a penalty to the bank.
Assumability A VA loan can be assumable. VA Loans originated on or after March 1, 1988 are eligible to sell their home to someone who agrees to assume the VA loan if the creditworthiness of the new borrower is approved by the lender. This is a significant selling point when it comes time to sell the home if interest rates are higher than when they get a loan. Down Payment & Mortgage Insurance Not Required The VA loan allows veterans to get 100% financing without private mortgage insurance to avoid mortgage insurance. Because of the government guarantee, VA mortgage lenders are protected against financial loss in case of default by the home-owner. This is the reason why VA mortgage loans have better pricing than conventional mortgage loans. Late Payment Guidelines One of the requirements for the servicing company of VA home loans is that there cannot be a late charge unless the payment is more than 15 days past due. Any late charge may not exceed 4% of the monthly payment amount. Another key item for veterans is for those having financial distress is the availability to have financial counseling from the VA. Related Links
Cash Out Refinance
If you need money to consolidate high-interest debt, home improvement, medical bills, or you just need funds, we have a solution that will work you. Ogden Mortgage Loans allows for 100% Cash-Out Refinance of the value of the home.
Frequently Asked Questions
- How do I know if I qualify for a VA Loan?
- Why would I want a VA loan?
- Can I purchase with $0 money down?
- Can I lower my monthly payment?
- Is a VA more lenient on a qualification?
Would you like to speak with a VA Loan Specialist who can help guide you through the loan process? We have specialists standing by to assist you in making this a quick and easy process. Call 1-385-298-5130 VA Streamline IRRRL A VA streamline refinance is also known as an IRRRL (interest rate reduction refinance loan). IRRL’s are a way for homeowners that have a current VA loan to lower their interest rate with no out-of-pocket costs. Streamline refinances do not require the standard loan documentation compared to purchase or refinance transactions.