VA Loans

Approved VA loan lender in MN, WI, SD

A VA loan is perhaps the most amazing loan in the housing market today!

Minneapolis, MN: 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 active duty personal and veterans.

VA Loan Solutions Right For You!

Whether you’re buying your first home with a VA loan, or you’re an experienced buyer using your VA benefits again, we have the right VA loan for you!a home lending solution just for you.
Get a No-Obligation Rate and Closing Cost Analysis!
VA Loans MN, WI, SD

Benefits of VA Loan

Far and away, the most significant benefit of a VA loan is the borrower’s ability to purchase with no money down. Apart from the USDA Rural Development loan, there are essential no other nationwide mortgage loan programs that offer 100 percent financing. 

VA loans are also a bit more liberal in the underwriting standards and requirements than many other loans. For example, allowing for lower credit scores than conventional loans. These loans also come with no monthly mortgage insurance (PMI), a added expense that other loans require borrowers to pay unless they put down at least 20 percent of the loan amount. 

VA loans offer a few other bells and whistles:

  • Down payment as low as 0% up to $484,350 in MN, WI, SD (where we lend).
  • 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 (called an Earl) – IRRRL loan with no appraisal needed
  • Cash out refinance – Get up to 100% of the homes appraised value. Use the money for anything you wish!

Realtor’s are wrong about VA Loans

Unfortunately, many Real Estate Agents have a unrealistic negative understanding of VA home loans. If you are making an offer on a home with a VA, many agents will improperly advise the sellers to select other offers over a VA loan offer.

Not only is discriminatory, it is flat out wrong, and usually based on old wives tales past around the real estate agent world, versus actual experience from the agent.

If your Real Estate Agent talks negatively about a VA loan – FIRE THEM – IMMEDIATELY!

I ALWAYS contact the listing agent personally when you submit your offer to see if they have any illogical feelings towards VA loans, and if they do, I set them straight!

Second VA Loan (or 3rd, 4th 5th…)

After getting one VA loan, often veterans think they can’t get a second VA loan. That’s not true. Your VA home loan benefits can be used over and over again. In fact, you can actually have two or more VA loans at the same time. If a VA lender has turned you down for a second VA loan you shouldn’t give up. A second VA loan is allowed by the Veterans Administration!

VA Loan Application

Click to start your VA loan application for homes in MN WI SD
Click to start your VA loan application for homes in MN WI SD

Ready to get started with your VA Loan? We make it easy. Most people start by completing the online application. It only takes about 15 minutes, and all the information you need to complete the application is in your head, No need to go find documents, or look up anything at this stage.

You can always call our local VA loan Experts at (651) 552-3681.

Finally, you can schedule an office appointment at our St Paul location, or schedule a telephone application. Just click the scheduling link, along with a day and time that works best for you.

The Department of Veteran Affairs requires mortgage companies who offer VA Loans go through a stringent approval process. We are a VA approved mortgage lender and are proud to help military families use their VA Loan Benefits for home located in Minnesota, Wisconsin, and South Dakota. We are not acting on behalf of, or under the direction of the VA or the Federal Government. The Veterans Administration does not lend directly to the public, only through approved lending institutions like Mortgages Unlimited. NMLS 274132. Equal Housing Lender.


VA Streamline Refinance Loan

Mortgage Rates are at Historic Lows. Start saving money now on your VA Home Loan!

Minneapolis, MN: If you are active or retired U.S. Military veteran, you are eligible for a great benefit, the VA Home Loan. If you currently have a VA Home Loan, you may qualify for another great benefit, the VA Streamline Refinance Loan.

Officially known as The Interest Rate Reduction Refinance Loan (IRRRL), it is one of the easiest refinance loans available today.  The VA Streamline Refinance is the second best programs offered to you through your housing benefits from the Veterans Affairs (the first was buying the home with a VA Home Loan!)

BENEFITS OF A VA STREAMLINE REFINANCE

NO Appraisal (upside down might be OK)
Lower Credit Scores
NO Qualifying Debt Ratios
NO Income Verification
NO Out of Pocket Expenses

Minnesota VA Loan Application
VA Streamline refinance Application for homes in MN, WI, or SD

A good local VA Mortgage Leader will show you how to utilize your Certificate of Eligibility and lower your rate and start saving money today.

100% CASH OUT VA REFINANCE

VA loans also allow you to take cash out up to 100% of the current appraised value of your home. Use the money for anything you want, like paying off higher interest rate credit cards, or simply consolidating all your debt into one easy loan payment. The VA cash out refinance is not streamlined, and will require an appraisal and all standard income documentation.

VA guaranteed Loans are originated by private approved and authorized lenders. VA Mortgage Home Loans must be used for their own personal occupancy. The VA will guarantee a portion of the mortgage to the lender reducing their risk and allowing opportunity for lower interest rates. The VA Guaranty minimizes the risk to the lender which results in better financing terms.