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Let Security America Mortgage help you with your Oregon VA Home Loan

By
Mortgage and Lending with Security America Mortgage NMLS 355253

How Does an Oregon VA Home Loan Work?

An Oregon va loan works just like a Texas VA loan or va loan in any state. The Department of Veterans Affairs makes this possible and sets the guidelines for Lenders all over the United States. Often times States have additional support for Veterans and active service members. States and counties can have VA loan limits but the Veterans Affairs doesn't set va loan limits. However, Lenders like Security America Mortgage usually have a maximum loan amount. What makes an Oregon va loan unique is the beautiful state of Oregon. There are many benefits to living in Oregon for our active-duty Military service members and Veterans. Let me first remind you of the 15 general benefits of getting an Oregon va loan.

 

Benefits of Oregon VA Home Loans Include:

  1. No money down required with 100 percent financing
  2. No mortgage insurance with Oregon va home loans or va loans provided throughout the US
  3. Less stringent guidelines compared to conventional home loans
  4. Low-interest home loans depend on market conditions but traditionally a va loan with no money down will have a better rate than conventional mortgages or FHA mortgages that require a minimum down payment. If you are putting a 20 percent down payment on a conventional loan then you should get a better rate than a VA loan but it's no guarantee if you have less than stellar credit.
  5. There is no minimum credit score set by the Department of Veterans Affairs.
  6. VA Disability income can help you qualify for a va loan.
  7. Disabled Veterans with more than a 10% disability rating don't have a va funding fee
  8. It's possible to get 100% financing and have your closing costs paid too
  9. Your VA loan entitlement is good for any state you qualify
  10. You can use your full va loan entitlement more than once
  11. Military service-connected disability might also save you on property taxes
  12. You can build a home with a va construction loan
  13. You can renovate a home that you want to buy with a va renovation loan
  14. VA loans are assumable for Oregon Veterans
  15. Oregon VA loans are partially guaranteed by the Department of veterans affairs just like all the United States

Veterans with PTSD need healing in nature.

Who Can Apply For A ODVA Loan and how is it different from a regular VA loan?

ODVA (Oregon Department of Veterans Affairs) loan program is available for eligible Oregon veterans, active-duty service members, and surviving spouses of veterans who meet certain criteria. To be eligible for an ODVA loan, you must have served in the U.S. Armed Forces and be a current resident of Oregon or planning to move to Oregon.

ODVA loans are different from regular VA (Veterans Affairs) loans in a few ways:

  1. Geographic Restrictions: ODVA loans are only available to veterans and service members who are residents of Oregon, while regular VA loans are available to eligible veterans and service members across the country.
  2. Funding Fee: Unlike VA loans, ODVA loans do not require a funding fee regardless of disability.
  3. Maximum Loan Amount: The maximum loan amount for an ODVA loan is $484,350, while the maximum loan amount for a regular VA loan varies by county and by your VA lender.
  4. Eligibility Requirements: ODVA loans have their own eligibility requirements, which are similar to the requirements for a regular VA loan but may have additional criteria specific to Oregon.

Overall, the ODVA loan program offers eligible veterans and service members in Oregon an affordable and accessible way to buy a home or refinance their existing mortgage.

The great state of Oregon is ideal for Military Veterans

Types of VA Home Loans in Oregon offered through va approved lender Security America Mortgage

  • VA loans
  • VA construction loans
  • VA renovation loans
  • VA streamline Refinance loans
  • va loan cashout refinance loan

Why should I trust Security America Mortgage for an Oregon va loan?

Security America Mortgage is dedicated to serving those who served. You can count on SAM to always put your needs first. If you want the best deal and best service then go ahead and get started with a va loan application! We'll have a va loan officer waiting to serve you! Call us for immediate assistance at 1 855 GO VA NOW.

 

Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Hi,

Welcome to the Rain. Enjoyed your blog page, and I added you as a

friend. I would love the follow back. Bill

May 13, 2023 12:10 PM