• Tel: (651) 552-3681
    Email: joe@joemetzler.com

  • Why get a VA Loan

    Thank you for your service, you deserve nothing but the best.

    VA Refinance Loan | VA Certificate of Eligibility | VA FAQ 

    It's simple ... Lower Rates. Lower Payments. NO Mortgage Insurance, and NO down payment We are here to provide our active or military veterans and their families with affordable VA Loan housing. We are your LOCAL top source for VA loans in MN, WI, and SD. We are not some out-state person on an 800 phone number.  We know, and understand local VA loan, rules, and guidelines.

    VA Loans require no down payment, and have no mortgage insurance, plus you can roll all your closing costs into the loan. This makes for one heck of a great first-time home buyer deal for military veterans wanting to buy a home! The country appreciates your service. This is one way we pay you back. Today mortgage rates on VA loans are very low, making homes even more affordable.

    Take Advantage of your VA Benefits! VA Home Loans for Minnesota, Wisconsin, and South Dakota military veterans

    The country appreciates your service. This is one way we pay you back. Take advantage of your VA benefits  with a VA loan in MN, WI, SD

  • U.S. Military - VA Loan
    U.S. Military - VA Loan
    U.S. Military - VA Loan
  • Buy a home with a VA Loan

    VA Home Purchase with Zero Down Payment

    A VA Loan allows our military personal to buy a home with NO DOWN PAYMENT and finance 100% of the home's purchase price up to $484,100, with a small down payment required over $484350.

    Now more than ever, banks are requiring larger down payments for conventional loans with more expensive mortgage insurance.

    Down payment requirements are one of the biggest obstacles to home ownership.

    VA loans have NO PMI = Lower Monthly Payments

    A VA Loan offers a HUGE savings benefit. They do NOT require monthly PMI, or private mortgage insurance. PMI is an added monthly expense required for conventional loans and FHA loans where the borrower finances more than 80% of the home's value to offset the lenders risk.

    Interest rates are also typically lower with a VA Loan, than a conventional loan. A lower rate combined with monthly PMI savings can substantially lower your monthly payment.

  • Getting VA Qualified is Easier

    The qualification guidelines are less stringent for VA Loans. Because the loan is backed by the government, lenders don't need to meet strict lending rules.

    • VA Home Mortgage Loan Advantages vs Other Mortgage Loan Options
    • VA home loans do not require a down payment in MN, SD, and WI (up to $484,350)
    • VA home loans have limitations on which closing costs may be assessed to the veteran, saving you money.
    • VA home loans have no prepaid without penalty if you pay extra or sell the home
    • VA home loans may have forbearance extended to worthy VA homeowners experiencing temporary financial difficulty
    • VA performs personal loan servicing and offers financial counseling to help veterans avoid losing their homes during temporary financial difficulties
    • VA interest rates are competitive with conventional loan interest rates.
    • VA home loans do not require mortgage insurance - this is a HUGE savings.
    • VA loans in MN, WI, and SD only require a small down payment for loans over $484,350
    • Although there is no down payment required - There are still closing costs, but the seller usually pays ALL of the veteran's closing costs (and with a $0 down payment, the veteran can literally purchase in most cases with little to nothing).
  • Keep It Local

    There is nothing some out-state internet lender can do or offer that you can't get from us, Cambria Mortgage, your local VA lender. They do not offer better rates or lower costs. As a matter of fact, it is usually the other way around, as you are not paying for all their expensive advertising.

    We live, work, play, and support veterans in Minneapolis, St Paul, Duluth, Rochester, St Cloud, Madison, Milwaukee, Sioux Fall, Aberdeen, Pierre, and and all of Minnesota, Wisconsin, and South Dakota.

  • Plenty of VA Loan Experience

    Your VA loan will not be our first VA loan! We love VA Loans and are proud to help those who have served our country. This dedication and focus gives our Loan Officers far more VA experience over a typical Loan Officer at another firm who may do one or two VA Loans per year. It is important that your Loan Officer know the in's and out's of the VA program in order to get the process done quickly and to ensure you maximize your financial benefits.

    Why use the Metzler Mortgage Group at Cambria Mortgage for your VA Loan in MN, WI, or SD?

    We Make the VA Loan Process Fast and Simple. Our extensive VA experience enables us to streamline the VA Loan process, making it smooth and easy for you. Once you get started, your VA Loan Officer will be there with you every step of the way, gathering the necessary paperwork and will work with the VA on your behalf.

  • VA Jumbo Loans

    VA loans allow most military personal to buy a home with no down payment, but only up the VA loan limit in your area.  Where we lend in MN, WI, and SD, the no down payment loan limit is $484,350. 

    The vast majority of the country has the same $484,350 limit, but a small number of high cost loan areas in Florida, California, and Hawaii have higher limits. So can you buy a home over $484,350 with a VA home loan? YES, you sure can.

    GETTING A VA LOAN OVER $484,350 = Down

    VA loans allow most military personal to buy a home with no down payment. This is true up to the VA loan limit in your area.  Where we lend in MN, WI, and SD, the no down payment loan limit is $484,350. 

    The vast majority of the country has the same $484,350 limit, but a small number of high cost loan areas in Florida, California, and Hawaii have higher limits. So can you buy a home over $484,350 with a VA home loan? YES, you sure can.

    GETTING A VA LOAN OVER $484,350 = Down payment Required

    When buying a home with a VA loan over the local no down payment VA loan limit for your area, a down payment WILL be REQUIRED.

    How To Calculate a Jumbo VA Loan Down Payment

    The exact formula to determined your VA down payment is not too complicated to calculate. The simple math is you'll need about 25% of the difference between the purchase price, and $484,350 (or your areas VA loan limit in your area), plus your funding fee. 

    For example, in MN, WI, or SD - you wanted to buy a $550,000 home. There is a $125,900 difference between the no down payment maximum VA loan of $484,350. Now take the difference times 0.25% (so in our example $125,900 X .25% = $31,475).

    Now we need to add your VA funding fee.  In this example, I am assuming the client is a first time user of a VA loan, the person is regular military (not reserves or National Guard, and does not have a VA related disability). Their difference between the maximum and purchase price works out to be a down payment of 5.723%, so their funding fee of 1.50%.

    So now take your maximum loan amount, which is the purchase price minus the difference (in this example, $550,000 home, minus $31,475) = $518,525.

    Now multiple your VA funding fee times your loan amount (in our example, $518,525 X 1.50% = $7,777.88).

    Your required down payment is the combination of the two items. So in our example, $31,475 difference plus $7,777.88 funding fee = $39,252.88 down payment required.

    Confused? Simply call our VA loan Experts at (651) 552-3681 if you need help determining your required down payment.

    How to Obtain your VA Certificate of Eligibility in MN, WI, and SD

    US FlagA VA Certificate of Eligibility is required to get a VA Loan. Your Certificate of Eligibility is a document issued by the Department of Veteran Affairs that determines your eligibility.

    Click HERE for details on how to obtain your VA Certificate of Eligibility.

    VA Lender in Minnesota, Wisconsin, and South Dakota

    VA Loan Frequently Asked Questions...

    VA loans can seem a bit overwhelming if you don;t know what to expect. Our experienced MN WI SD VA loan experts can help guide the way to a smooth and successful closing.

    Just call us at (651) 552-3681, or Click HERE for commonly asked VA Loan Questions and Answers

    VA Loan Eligibility Requirements

    VA loans are not automatic. You do need to meet some basic eligibility requirements first. Here is a list of service requirements for a VA loan.

    World War II 09/16/40 - 07/25/47 90 Days
    Peacetime 07/26/47 - 06/26/50 181 Continuous Days
    Korean Conflict 06/27/50 - 01/31/55 90 Days
    Post Korean 02/01/55 - 08/04/64 181 Continuous Days
    Vietnam 08/05/64 - 09/07/80 90 Days
    Post Vietnam 05/08/75 - 09/07/80 181 Continuous Days
    Enlisted 09/08/80 - 08/01/90 2 Years
    Officers 10/17/81 - 08/01/90 2 Years
    Persian Gulf 08/02/90 - present 2 Years of period called to active duty, not less than 90 days.

    Income Guidelines for VA Home Loans

    When buying a home in Minneapolis, St Paul, Milwaukee, Madison, Pierre, Aberdeen, or all of MN, WI, and SD, the VA still requires a borrower to have sufficient and adequate income to cover the repayment of the mortgage.  Before a borrower can be approved for a VA home mortgage loan, the stability of income and the continuance of the borrower's income must be established through acceptable sources of income, the borrower's past employment record, and the employer's confirmation of continued employment must be established. 

    Stability of a person's income is generally derived from their employment history.  VA requires verification for the previous two full years and must be documented through lender verification of previous employment or W-2's.  This income must be analyzed to determine whether it can be expected to continue through the first 3 years of the mortgage loan (if the borrower intends to retire during this period, the expected retirement income, social security benefits, etc. should be used).  Any gaps in employment must be reasonably explained by the borrower.  Schooling or education for  the borrower's profession (e.g. nursing school) can be counted towards the 2 year requirement.  Allowances for seasonal employment, such as is typical in the building trades for example, may be used.  

    The VA Funding Fee

    In order for VA to guarantee the home loan in Minnesota, Wisconsin, or South Dakota, there is a closing cost assessed by the VA to originate the loan called a funding fee.  This fee will vary, depending upon the type of VA loan, whether this is your first time to use your entitlement, if you are a disabled veteran, the down payment and if you served active duty or in the National Guard/Reserves.

    The VA funding fee is required by law. The fee, is intended to enable the veteran who obtains a VA home loan to contribute toward the cost of this benefit, and thereby reduce the cost to taxpayers. The funding fee for second time users is a bit more expensive. The idea of a higher fee for second time use is based on the fact that these veterans have already had a chance to use the benefit once, and also that prior users have had time to accumulate equity or save money towards a down payment.

    The following table breaks down the funding fee charged by VA to get a VA Home Loan

    First time use, purchase of an eligible property

    Down Payment Active Duty Reserves/NG
    0% to 4.99% 2.15% 2.40%
    5% to 9.99% 1.50% 1.75%
    10% + 1.25% 1.50%

    Second time use, purchase of an eligible property

    Down Payment Active Duty Reserves/NG
    0% to 4.99% 3.30% 3.3%
    5% to 9.99% 1.50% 1.75%
    10% + 1.25% 1.50%

    Cash-Out Refinance

      Active Duty Reserves/NG
    First Use 2.15% 3.3%
    2nd Use 2.40% 3.3%

    IRRRL Streamline Refinance

      Active Duty Reserves/NG
    All Homes .50% .5%


  • VA Approved Lender

    The Department of Veteran Affairs requires those 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.  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 Cambria Mortgage.

    To get started on your VA loan application, just call (651) 552-3681, or simply answer a few online application questions. A VA Loan specialist will contact you within just a couple of hours to let you know what you qualify for.