Ask the
Mortgage Expert,
Mark G. Nagy
Find out what's happening in Southburywith free, real-time updates from Patch.
Mark G Nagy Loan Officer with Cross County Funding and Local Southbury Resident
Find out what's happening in Southburywith free, real-time updates from Patch.
At Cross County Funding - WE MAKE MORTGAGES SIMPLE!
Home Financing really does not have to be so hard on you! With so many lenders, programs and products to choose from -- your best interest is our highest priority. Over 25 years of residential, new construction and commercial expertise! Phone 203 525 0387.
30 Glenn Street, Suite 203, White Plains, New York 10603 / NMLS#63942 ~ New York: Registered Mortgage Broker -- NYS Department of Financial Services. Brokers may not make loans. Loans arranged through third party lenders. ~ Connecticut: Mortgage Broker Only, Not a Mortgage Lender or Mortgage Correspondent. ~ New Jersey: Licensed by the NJ Department of Banking and Insurance. Brokers will not make commitments or fund mortgage loans. Arranges loans with third party providers.
our readers:
What is a VA loan?
VA loans are home mortgage loans guaranteed by the U.S. Department of Veterans Affairs (VA), a branch of the federal government that oversees
Veterans’ benefits. While VA loans are actually fulfilled by private lenders such as banks and mortgage firms, they are protected against loss
by the government.
Due to this government backing, lenders are able to offer home loans to those who qualify without the customary requirement of a down payment. Additionally, borrowers are not required to pay private mortgage insurance (PMI) under the conditions of a VA loan.
Who is eligible for a VA loan?
VA loans are available for veterans of U.S. service or their surviving spouses (provided that they have not remarried). However, not all veterans
automatically qualify for the program. As with all other loan programs, applicants must demonstrate that they can provide the income and other qualifying factors such as good credit to afford monthly mortgage payments. To check your eligibility, you can contact a VA-approved lender such as Cross County Funding to learn about the VA eligibility process.
What type of home can I buy with a VA loan?
VA loans are available for eligible veterans to purchase existing homes or to build a new home. The VA loan program can also be used to finance a condominium or townhouse unit or to buy a manufactured home
if approved by the VA; manufactured homes purchased under the conditions of the loan must conform to certain requirements.
VA loans are designated to be used for personal occupancy, not investment or rental properties.
