"Proudly Serving the Veterans that Served Our Country"

WHY VA

 

It is the VETERAN, not the preacher,
who has given us freedom of religion.

It is the VETERAN, not the reporter,

who has given us freedom of the press. 

It is the VETERAN, not the poet,
who has given us freedom of speech.

                                        

It is the VETERAN, not the campus organizer,
who has given us freedom to assemble.

It is the VETERAN, not the lawyer,
who has given us the right to a fair trial.

It is the VETERAN, not the politician,
who has given us the right to vote.

If you already have a VA mortgage, Diamond Funding can do a quick and easy "VA Streamline Refinance" to lower your interest rate and monthly payments. We don't even need a property appraisal. Just give us a 2 minute call and tell us your current interest rate.

VA guaranteed mortgage loans are made by lenders and a portion of the mortgage note is guaranteed by the U.S. Department of Veteran Affairs (VA) for eligible veterans for the purchase or refinance of a home.

The guaranty means the lender is partially protected against loss if you fail to repay the loan. In most cases, no down payment is required on a VA guaranteed loan and the borrower usually receives a lower interest rate than is ordinarily available with other loans.

Other benefits of a VA loan include:

• Closing costs comparable – and sometimes lower - than other financing types.
• No private mortgage insurance requirement.
• Right to prepay loan without penalties
• Mortgage can be taken over (or “assumed”) by a buyer when a home is sold.
• Counseling and assistance available to veteran borrowers having financial difficulty or facing default on their loan.

Although mortgage insurance is not required, the VA charges a funding fee to issue a guarantee to a lender against borrower default on a mortgage. The fee may be paid in cash by the buyer or seller, or it may be financed in the loan amount.

A VA loan can be used to buy a home, build a home and even improve a home with energy-saving features such as solar or heating/cooling systems, water heaters, insulation, weather-stripping/ caulking, storm windows/doors or other energy efficient improvements approved by the lender and VA.

Veterans can apply for a VA loan with any mortgage lender that participates in the VA home loan program. A Certificate of Eligibility (DD-214) from the VA must be presented to the lender to qualify for the loan.

Diamond Funding has been in business since 1986 and is a VA Approved Lender.