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SEE IF YOU QUALIFY FOR A LOW-INTEREST VA HOME LOAN

Purchase Refinance
 * Overview
 * The Basics
 * Requirements
 * Refinancing
 * FAQ


AMERISAVE PROUDLY OFFERS AFFORDABLE HOME LOANS TO US MILITARY VETERANS AND THEIR
FAMILIES

If you are a United States veteran or the surviving spouse of a veteran, you may
be qualified for a VA home loan. These loans are guaranteed by the US Department
of Veterans Affairs, which enables mortgage lenders to offer low-interest, no
down payment / low down payment mortgage loans to qualifying veterans, military
service members, and their surviving spouses. Because VA loans are backed by the
government, they offer more affordable terms with less stringent requirements.

AmeriSave offers competitive, low interest rates with no loan origination fees
on VA home loans. See if you qualify today.


VA HOME LOANS THE BASICS


VA LOAN BENEFITS

VA-guaranteed loans are backed by the United States government and are available
for homes for your occupancy or a spouse and/or dependent (for active duty
service members). These loans offer significant advantages to qualifying service
members and military families, including:

No down payment —the VA loan offers up to 100 percent financing, meaning there
are little to no down payment requirements and most veterans don’t have to come
up with thousands of dollars to become a home buyer.

No Private Mortgage Insurance (PMI)—monthly mortgage insurance is not required
for VA loans.

Limited closing costs—VA loans have fewer closing requirements, which lowers
your costs.

Lifetime benefit—whether this is your first home or the home you hope to retire
in, you can apply for a VA loan even if you have taken out a VA loan in the
past.

Buy, build, retain, or adapt—several types of loans are available to help
service members—whether they plan to buy a new home or want to make renovations
or future repairs to their existing home.

Flexible credit requirements—these loans are a benefit to those who have served
and may help veterans at various income levels buy a home. Even if you have an
imperfect credit history, you may qualify for a VA loan to purchase a home in
your preferred price range.

Include VA fee in your mortgage—you may opt to roll the VA fee directly into
your mortgage to finance the fee over time as part of your monthly payment, or
you can pay the fee in full at the time of closing. (If you have a
service-connected disability and receive or are eligible to receive VA
disability compensation, you won’t have to pay the fee.)

Recommended
AmeriSave exceeded my expectations

> Amerisave exceeded my expectations. They were in constant communication,
> clearly explained my loan options and every step involved with each option. We
> went with a VA refinance and Amerisave was able to close my loan well ahead of
> schedule. The Amerisave web site is extremely easy to use for sharing
> documents, and the mostly paperless process could not have been any better. I
> would recommend Amerisave to anyone.
>  Michael   from United States
> Reviewed on April 2021

Recommended
Really good people

> Really good people helped us through all the VA paperwork to ReFi. Online
> website was very user friendly too.
>  Todd 
> Reviewed on September 2021

Recommended
The refinance of our VA loan was...

> The refinance of our VA loan was seamless, the loan originator (Veronica
> Verdugo) and loan processor (Danielle Loder) went above and beyond to assist
> us in the process. We are very pleased and thank you for your assistance.
>  Stephanie  
> Reviewed on April 2021

Recommended
Helped me when Veterans United kept me...

> Helped me when Veterans United kept me waiting almost a year for pre-approval.
> Amerisave came to my rescue. I am so thankful for them and their hardworking
> staff!
>  Melissa  
> Reviewed on October 2021

Recommended
Expedient and professional

> The process took less than 3-4 weeks as opposed to 6 months with Navy Federal
> Credit Union (NFCU). I cancelled NFCU and went with Amerisave. They had
> execellent customers service and prompt communication compared to NFCU. I was
> able to speak, text, and email the agents and processors in order to get
> information.
>  Rex  
> Reviewed on August 2020

Recommended
You guys were awesome!

> You guys were awesome!! I closed in less than a month!! Navy federal drug
> their butts for 5 months. They dropped rate but would not answer a call or an
> email. They are horrible right now and I am switching my mortgage and my auto
> loan. Thanks for making this happen quickly!!
>  Tina  
> Reviewed on March 2020

Recommended
Great people to work with!

> Great people to work with! No problems with mortgage loan refi we wanted and
> even with it being a VA loan, they made it easy. Lots of flexibility dealing
> with variables and getting all questions and concerns resolved very quickly.
> Would highly recommend!
>  L H  from United States
> Reviewed on March 2020

Recommended
The VA Refi experience with AmeriSave...

> The VA Refi experience with AmeriSave was exceptional. Both people we worked
> with, David and Jamie, wherever helpful, addressed, clearly and succinctly,
> every question and concern. It was quick, the loan we were refinancing was
> paid precisely when they said it would be and the small amount of money we
> were to receive at closing was available almost immediately.
>   Scot  from United States
> Reviewed on March 2020

Recommended
Great experience from start to finish

> Great experience from start to finish. I would highly recommend Amerisave. I
> did a VA refinance in 30 days.
>  Michael  from United States
> Reviewed on August 2020

Recommended
AmeriSave exceeded my expectations

> Amerisave exceeded my expectations. They were in constant communication,
> clearly explained my loan options and every step involved with each option. We
> went with a VA refinance and Amerisave was able to close my loan well ahead of
> schedule. The Amerisave web site is extremely easy to use for sharing
> documents, and the mostly paperless process could not have been any better. I
> would recommend Amerisave to anyone.
>  Michael   from United States
> Reviewed on April 2021

Recommended
Really good people

> Really good people helped us through all the VA paperwork to ReFi. Online
> website was very user friendly too.
>  Todd 
> Reviewed on September 2021

Recommended
The refinance of our VA loan was...

> The refinance of our VA loan was seamless, the loan originator (Veronica
> Verdugo) and loan processor (Danielle Loder) went above and beyond to assist
> us in the process. We are very pleased and thank you for your assistance.
>  Stephanie  
> Reviewed on April 2021

Recommended
Helped me when Veterans United kept me...

> Helped me when Veterans United kept me waiting almost a year for pre-approval.
> Amerisave came to my rescue. I am so thankful for them and their hardworking
> staff!
>  Melissa  
> Reviewed on October 2021

Recommended
Expedient and professional

> The process took less than 3-4 weeks as opposed to 6 months with Navy Federal
> Credit Union (NFCU). I cancelled NFCU and went with Amerisave. They had
> execellent customers service and prompt communication compared to NFCU. I was
> able to speak, text, and email the agents and processors in order to get
> information.
>  Rex  
> Reviewed on August 2020

Recommended
You guys were awesome!

> You guys were awesome!! I closed in less than a month!! Navy federal drug
> their butts for 5 months. They dropped rate but would not answer a call or an
> email. They are horrible right now and I am switching my mortgage and my auto
> loan. Thanks for making this happen quickly!!
>  Tina  
> Reviewed on March 2020

Recommended
Great people to work with!

> Great people to work with! No problems with mortgage loan refi we wanted and
> even with it being a VA loan, they made it easy. Lots of flexibility dealing
> with variables and getting all questions and concerns resolved very quickly.
> Would highly recommend!
>  L H  from United States
> Reviewed on March 2020

Recommended
The VA Refi experience with AmeriSave...

> The VA Refi experience with AmeriSave was exceptional. Both people we worked
> with, David and Jamie, wherever helpful, addressed, clearly and succinctly,
> every question and concern. It was quick, the loan we were refinancing was
> paid precisely when they said it would be and the small amount of money we
> were to receive at closing was available almost immediately.
>   Scot  from United States
> Reviewed on March 2020

Recommended
Great experience from start to finish

> Great experience from start to finish. I would highly recommend Amerisave. I
> did a VA refinance in 30 days.
>  Michael  from United States
> Reviewed on August 2020

Recommended
AmeriSave exceeded my expectations

> Amerisave exceeded my expectations. They were in constant communication,
> clearly explained my loan options and every step involved with each option. We
> went with a VA refinance and Amerisave was able to close my loan well ahead of
> schedule. The Amerisave web site is extremely easy to use for sharing
> documents, and the mostly paperless process could not have been any better. I
> would recommend Amerisave to anyone.
>  Michael   from United States
> Reviewed on April 2021




BORROWING REQUIREMENTS ARE YOU ELIGIBLE FOR A VA MORTGAGE LOAN?

As a veteran or military spouse, you may qualify for a low interest rate on a VA
loan:

 * You (or your spouse) served for at least 181 days in active duty service (or
   90 days during wartime), or at least six years of National Guard service as a
   reserve member (not dishonorably discharged).
 * Your spouse:
   A. was a member and was killed in the line of duty or died from an injury or
      illness related to service.
      OR
   B. is a member and is either a prisoner of war or missing in action.
 * You will live in the home as your primary residence.
 * You have a Certificate of Eligibility, which can be obtained from Veterans
   Affairs here.
 * You have a steady income and enough savings/assets to meet the expected
   monthly obligations.
 * Your credit score is 600 or better; 640 for loan amounts that are $700,000 or
   more and adjustable rate mortgages.
 * You have adequate residual income. This is determined based on your property
   location and the area’s cost of living, and the number of dependents in your
   family, with childcare expenses taken into account.

Get Started


REFINANCING A VA LOAN

Types of
VA refinance loans

In addition to home purchase loans, the Department of Veterans Affairs also
guarantees refinancing and other types of home loans and grants. AmeriSave can
help you identify and apply for the program that best matches your needs and
qualifications, such as:

Cash Out Refinance loans—Take cash out of your home equity with a VA Cash Out
Refinance Loan when you need cash to pay off debt, pay school tuition, maintain
your home, or pay for other living expenses.

Interest Rate Reduction Refinance Loan (IRRRL)—The IRRRL is a "VA to VA" loan,
so you must have an existing VA guaranteed loan on the property to qualify for
refinancing. This can significantly reduce the payment amount of your monthly
mortgage.

Energy Efficient Mortgages— Finance making your home more energy efficient by
including the cost of energy-efficient improvements in your mortgage.

Benefits of
VA refinance loans

Depending on current interest rates and your personal circumstances and needs, a
VA loan can lower your monthly payment or provide you cash for your home or
other expenses.

Lower rates and decreased monthly payments—When current market rates are lower
than the rate on your existing mortgage loan, you can lower your interest rate
and the amount of your monthly mortgage payment by refinancing. As a veteran,
you have access to VA refinance loans, which typically have lower rates than
those available to the general public.

Improved loan terms—You can shorten the life of your loan or switch to a
fixed-rate mortgage.

Special terms for existing VA loans— For qualifying loans, an IRRRL will lower
the interest and reduce the monthly payment on an existing VA guaranteed loan,
leaving you with more cash every month now and lowering costs in the long run.

No appraisal needed— IRRRLs require minimal to no appraisal requirements (for
example, to determine a loan-to-value ratio), which means less
paperwork/headaches for user.

Fewer application steps—The VA loan process is quicker than an original mortgage
application because you typically won’t be required to get a new home appraisal
or property inspection—steps that take time and are costly. You can also skip
the credit check and having your debt-to-income ratio calculated.

Low-cost closing—VA streamline refinances require fewer checks and less
documentation, which helps keep your closing costs relatively low.

As a service member, reserve member, veteran or United States military spouse,
you deserve the housing benefits that are available to you, including highly
competitive home loans with lower-than-average interest rates and costs, no
private mortgage insurance (PMI), and little or no down payment. You could save
thousands by finding the right mortgage loan for you, and AmeriSave can help.
Get Started
664,000+ Borrowers
Financed
$115+ Billion Funded
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FAQS

What is the benefit of a VA loan?

If you are a home buyer or current owner looking to refinance a loan, you may
want to get a VA loan because they offer significant advantages to military
service members, reserve members, veterans, and surviving spouses. Benefits of
VA loans include little to no down payment, low interest rates compared to
conventional mortgage loans, no monthly private mortgage insurance (PMI), and
flexible credit score requirements.

Who backs VA mortgages?

The U.S.Department of Veterans Affairs guarantees these loans, which are then
provided by private mortgage lenders—including AmeriSave—to members of the
United States military.

Who are VA-backed home loans for?

VA home loans are meant to help military troops, reserve members, veterans, and
surviving spouses become home buyers and make home maintenance and refurbishing
more affordable.

What are the service requirements for VA loans?

To qualify, you (or your spouse) must have served for at least 181 days in
active duty service (or 90 days during wartime), or at least six years as a
reserve member in the National Guard service. You may also have VA loan
eligibility if you are a surviving spouse of an active military member who was
either killed in the line of duty or died from an injury or illness related to
service, or your spouse is a member and is either a prisoner of war or missing
in action.

What financial and other requirements do borrowers of VA home loans need to
meet?

You must live in the home you are purchasing or refinancing as your primary
residence and have a Certificate of Eligibility, which can be obtained from
Veterans Affairs here. You must also meet income requirements to show you can
meet the expected monthly obligations and have a credit score of 600 or better,
depending on the loan amount (640 for loans of $700,000 or more.)

Are VA loan interest rates lower? What about other government-backed loans that
I’ve heard about, like FHA, USDA or other government agency home loans?

It is certainly possible that you may have other loan options for which you
qualify, such as a home loan backed by the Federal Housing Authority, if you
meet income requirements, or a USDA home loan, if you live in a rural area. To
find the best loan for you, contact one of our loan officers who will gladly
review criteria and benefits of different types of government-backed loans and
make a recommendation.

Are all VA home mortgage loans the same? How can AmeriSave help me?

Just as with other mortgage loans, every mortgage lender has different criteria
and has different loan and interest rate options. AmeriSave will help you find
the best interest rate and lowest down payment and customize a loan that meets
your needs and qualifications. Once you are approved, sellers and real estate
agents will have proof that you can afford homes within your price range.

Does my credit score affect my VA loan interest rate?

Although loan eligibility requirements for VA mortgage loans are more flexible
than those for conventional mortgages, those with excellent credit scores are
more likely to qualify for VA loans with the lowest interest rates available.
But don’t count yourself out if your credit history is less than perfect—VA
loans are meant to help military service members qualify for loans they might
not have qualified for on the conventional loan market.

Will I have to pay any fees with my mortgage loan?

You may need to pay the VA funding fee, which is a one-time fee. Because the VA
home mortgage loan program doesn’t require home buyers to make down payments or
carry monthly mortgage insurance (PMI), the VA funding fee helps to lower the
cost to taxpayers. Those who have a service-connected disability and are
eligible for VA compensation are not required to pay the fee.

Do I need a Certificate of Eligibility to apply?

You will need a Certificate of Eligibility to qualify, but you can begin the
application process without one to determine your VA loan eligibility and likely
interest rate. Obtain a COE from the Department of Veterans Affairs here.

Can I refinance my VA home loan?

If your current loan is a VA loan, you may be able refinance it.

How can AmeriSave help me apply for a VA refinance loan?

To help determine your custom rate on an AmeriSave VA loan, our loan specialists
will review your qualifications, such as your credit score. A specialist will
help you demonstrate that you meet income requirements by explaining what
information and financial documents you need to produce to qualify.

Can I buy a second VA home? What is bonus entitlement?

Bonus entitlement enables borrowers to have more than one VA loan outstanding at
a time. Such loans may require you to make a down payment, depending on the loan
amount and price of the home. For more information and the latest benefits, see
more information on VA loan limits.

Can I qualify for a VA loan if my credit history includes bankruptcy or
foreclosure? Are the guidelines different from those of conventional loans?

VA loan guidelines are more lenient compared to conventional loans when it comes
to bankruptcy and foreclosure in an applicant’s history. If you filed for
bankruptcy and it was discharged more than two years ago, you may be eligible
for a VA loan. If your bankruptcy was related to a business you owned, you may
be eligible for a VA loan after 12 months of discharging the bankruptcy.
Likewise, a home foreclosure does not necessarily disqualify you from VA home
loan eligibility. If you foreclosed on a home two or more years ago, it should
not affect your ability to apply for a VA home loan.


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AmeriSave Mortgage Corporation, NMLS ID #1168, (www.nmlsconsumeraccess.org),
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clicking here on this "Licensing" link. For questions regarding state licensing,
please contact (866) 970-7283. Not all products and options are available in all
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