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This section will give you a good Idea of the mortgage process and the time frame involved.  The knowledge will help you feel more comfortable as you understand and go through the steps.

VA loans are home mortgages backed by the Department of Veterans Affairs (VA). With a VA loan, eligible service members and veterans can buy a home with little or no down payment, or refinance an existing home for a lower monthly payment. 

​We can offer service members, veterans, and eligible surviving spouses favorable terms on all types of home mortgage products. And if you don't meet the qualifications for a VA loan, FHA loans offer similar advantages, including lower down payment requirements for new Purchases and higher loan to value for refinance with an exception of mortgage insurance. VA loans do not have a monthly mortgage insurance added to your monthly mortgage payment although an upfront funding fee could be added to your loan if you are not exempted from the funding fee based on your eligibility.




Thank you so much for your help in refinancing my mortgage loans.  You were wonderful in being patient with me and going into detail to explain anything I had any questions about.  I will be sure and recommend you for future friends. 

- Desiree Young, TX

Key Benefits

  • Lower Down Payments/Equity requirements:- A new home purchase VA loan can be obtained with no down payment and on a refinance the equity requirement is also 0%. This loan is ideal for eligible service members and veterans as it allows you to become a home owner with the least possible down payment requirement, the product is also ideal for eligible service members and veteran home owners who have limited equity in their property and looking to refinance to a lower rate. 

  • No Mortgage Insurance:- One of the benefits of the VA loan program is that service members and veteran home buyers or home owners can qualify without being subjected to pay a mortgage insurance as part of their monthly mortgage payment unlike other programs like FHA. This provides an immediate advantage for additional savings both in the short and the long term of the mortgage. 

  • Easy qualification:- If you are a service member or a veteran with a VA eligibility certificate then qualifying you for the mortgage is extremely easy. The credit qualifying guidelines are not too stringent and VA loan programs offer a higher tolerance on your debt to income ratio as compared to other loan programs like a conventional even without an excellent credit history, If your existing mortgage is a VA loan then VA offers an Interest Rate Reduction Refinance Loan option that does not require an appraisal to help you with the financing. 

Frequently asked questions about this program

  • Is there a closing costs involved in this loan program? - Whether you are buying a new home or refinancing your existing mortgage, there will be a closing cost applicable which would include lender fees, broker fees, title fees and other third party charges as applicable. Requesting a detailed fee worksheet of the closing cost is always advisable when comparing loan offers across different companies.

  • Can I get a no closing cost loan? - On a new home purchase check with your real estate broker if you could negotiate for a seller contribution towards closing cost, VA allows sellers to contribute up to 4% of the purchase price towards your closing cost. On a refinance, you can always opt for a higher rate which would allow your loan officer to apply a lender credit towards your third party charges which could reduce your fees significantly and possible make it a no cost loan for you.

  • Can the closing cost be financed? - On a refinance, YES, the closing cost can be rolled into the new loan amount as long as we do not exceed the maximum allowable loan to value ratio for a VA loan based on your property value. On a new home purchase, the closing cost cannot be rolled into the loan and you will have to bring the money on table at the time of closing. 

  • What is an escrow account and is it mandatory? - An escrow account is a third party account specifically opened to manage your property taxes and home owners insurance. Every monthly mortgage payment you make would include a portion of your property taxes and home owners insurance which would get deposited in an escrow account and when the property taxes and home owners insurance is due the Escrow company will ensure a timely payment for same. On a VA loan an escrow account is mandatory both for new home purchase and refinance.

  • What is a Funding Fee and can it be waived? - On VA loans, there is a funding fee applicable which is usually financed and can be applicable up to 2.50%. The funding fee can certainly be waived if you are exempted from the funding fee, you can find the information regarding the applicable funding fee by either reviewing your certificate of eligibility or by contact Veterans Affairs.

Seguro Financial Services has the copyright for Seguro Loans and including all information on this website. The product and information advertised on this website does not constitute to be a loan approval or a loan guarantee. The loan approval is subject to a thorough review of your profile and documents by the underwriting team.