Sierra Pacific Mortgage’s VA Loans for the Lake Tahoe Area
Sierra Pacific Mortgage—Financing Homes & Condos with VA Loans in Tahoe and Truckee since 1992
Veteran’s Administration (VA) loans are designed to help those who have served their country buy a primary residence at a favorable interest rate with very little money down. In fact, it is possible to apply for 100% financing under the VA home loan program.
Steve Peterson and his team at the Sierra Pacific Mortgage-Lake Tahoe Office can help you determine if a VA home loan is available to you and whether it is the right loan product based on your objectives and circumstances. With over 20 years experience in Tahoe, we understand every step of the loan application process and will guide you through this process so that you can buy the home of your dreams.
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Understanding the VA Loans Program
Although they are guaranteed and backed by the VA, it’s important to understand that VA home loans are not offered by the government. When you take out a VA loan, the federal government promises your lender that they will cover losses should there be a default. This government backing encourages lenders to offer VA home loans to qualified veterans looking to buy a home in the Tahoe and Truckee area. Most loans of this type have relatively low interest rates and are designed to meet the needs of those who have served our country.
The professional mortgage bankers at the Sierra Pacific Mortgage-Lake Tahoe Office have been serving the Lake Tahoe area since 1992 and proudly serve people looking to buy a home, investment property, condo, or condotel in the communities of Truckee, Crystal Bay, Incline Village, Glenbrook, Zephyr Cove, Stateline, South Lake Tahoe, Tahoma, Homewood, Tahoe City, Carnelian Bay, Tahoe Vista, Kings Beach, Genoa and Granite Bay.
How a VA Loan Can Work for You
When looking to purchase a home in the Lake Tahoe area, Steve Peterson will walk you through all of your financing options. But if you are a veteran, one of the first options will be a VA home loan and why it may be a viable option for you. It is helpful to understand certain facts about VA home loans, including:
- VA loans are the only readily available consumer loans that offer full financing with no down payment.
- Closing costs and funding fees for these loans are very low or may even be waived.
- You won’t have to pay for mortgage insurance, which must be carried on most other loans secured through a mortgage banker.
- Your lender will facilitate quick refinancing if interest rates fall and you are eligible.
- You’ll work with an approved lender who is trustworthy and has your best interests in mind.
Eligibility Requirements for VA Loans In the Reno and Tahoe Area
VA loans are designed to benefit those who have served our country. In order to be qualified by a lender for these programs, you must meet eligibility requirements. If you want to apply for one of these products, your mortgage banker will need to determine if any of the following apply:
- You are an honorably discharged veteran who served during or after World War II.
- You are buying your primary residence.
- You are a widow or widower of a veteran who died in the military or from a duty-related disability and you have notremarried. You also qualify if your spouse is a POW or MIA.
- You are currently on active military duty.
- Your creditworthiness will also be evaluated by a prospective lender. While your lender may not turn you down on your credit score alone, your overall credit history is important.
Work with an Experienced Mortgage Banker for a VAHome Loan
The process of applying for any government-backed loan can seem daunting. When you work with a mortgage banker from the Sierra Pacific Mortgage-Lake Tahoe Office, you can rest assured that you’ll receive sound, professional guidance regarding your interest in a VA home loan. We know that the process of buying a home can be complex. We will be your partner every step of the way—answering questions, anticipating and working through bumps, and ensuring the process is as simple as possible.
At the Sierra Pacific Mortgage-Lake Tahoe Office, we understand the needs of veterans. As your mortgage banker we will analyze your situation and recommend the loan product that provides you with the best terms and rates available. Located in Incline Village, we proudly serve home buyers in the communities of Truckee, Crystal Bay, Incline Village, Glenbrook, Zephyr Cove, Stateline, South Lake Tahoe, Tahoma, Homewood, Tahoe City, Carnelian Bay, Tahoe Vista, Kings Beach, and Genoa.