A VA loan is perhaps the most powerful and flexible lending option on the market today. Rather than issue loans, the VA instead pledges to repay about a quarter of every loan it guarantees in the unlikely event the borrower defaults. That guarantee gives VA-approved lenders greater protection when lending to military borrowers and often leads to highly competitive rates and terms for qualified veterans.
Benefits of VA LoansFar and away, the most significant benefit of a VA loan is the borrower's ability to purchase with no money down. Apart from the government's UDSA's Rural Development home loan and Fannie Mae's Home Path, it's all but impossible to find a lending option today that provides borrowers with 100 percent financing.
VA loans also come with less stringent underwriting standards and requirements than conventional loans. In fact, about 80 percent of VA borrowers could not have qualified for a conventional loan. These loans also come with no private mortgage insurance (PMI), a monthly expense that conventional borrowers are required to pay unless they put down at least 20 percent of the loan amount.
VA loans offer a few other bells and whistles:
Competitive interest rates that are routinely lower than conventional rates
No prepayment penalties
Higher allowable debt-to-income ratios than for many other loans
Streamlined refinancing loans that require no additional underwriting
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Our Happy Clients
"OUTSTANDING JOB in processing my VA refin loan. They were friendly and very knowledgeable. I was very pleased with the speed in which my loan was processed. Approximately 12 days to get to signing documents is GREAT!. My loan funded on the date I was told and I had no issues during the entire process. I recommend them highly and will never go to another lender for future requirements. The company and employees are very good and do excellent work."
"I've been wanting to write a review about Vision Quest Lending, however family and work have kept me occupied. My husband and I closed our loan in April. We had the pleasure to work with Rick Villa. He was extremlely knowlegable and made the process painless. Our situation was unique as we took over our in laws home and all lenders we spoke to previously told us we would need to be on title for 12 months. Right away Rick said that was not the case. We trusted him and are glad we did. He closed our loan within 30 days and provided us with an excellent rate along with no closing cost. I have already recommended a co-worker and family member to Rick and Vision Quest Lending."
"I recently did a loan with Tony Nguyen at Vision Quest Lending and had an exceptional experience. Tony walked me through every step of the loan process and made it very easy for me to understand. He was also able to get me the interested rate that he originally promised and gave me several options to buy down my rate. As we finalized the loan, Tony worked closely with my purchasing agent and was able to reduce the price on my home by 10%! I am still amazed he how willing he was to go the extra mile to accommodate this. I since have referred him to over 10 people, including family members, who have all had great experience’s with him and the associates of Vision Quest lending"