What is a Government Loan?
A number of loan programs are sponsored by the federal government to assist American families to become homeowners. The programs are structured to insure various loan types, allowing lenders to approve loans for more people. The most popular government backed loan programs are the Federal Housing Administration (FHA) loan program and the Veterans Administration guaranteed loan program. We can help you determine if you qualify for these very helpful loan programs and walk you through the loan application process. VA Home Loans Purchase and Refinance Welcome to Residential Wholesale Mortgage, Inc.'s Government Loan Center home page. RWMI is an industry leader in originating, processing, and underwriting VA home loans. Our mortgage banking corporation is based in San Diego, CA, but we lend statewide. Our VA loan experts are dedicated to making your loan process simple and are available to discuss general questions, loan pre-qualification, offer advice, and provide you timely loan status. Our mission is to help all veterans take advantage of this wonderful loan program. Are you considering purchasing a home, or refinancing your existing loan, and utilizing your VA eligibility? Please call us today. We look forward to helping you! Talk to a VA Loan Expert Call 1.800.708.4618 Get pre-qualified. It takes only minutes.
Your application may be submitted in person, online, or over the telephone. We are here to make it easy! Veterans Home Loan Highlights: * Zero down payment for purchase loans * VA streamline refinance loans up to 100% of your home's value * VA cash out refinance up to 90% of your home's value * Veterans can use their entitlement many times * No upfront fees * Additional savings for service connected disability VA Home Loan Purchase
Getting pre-qualified is fast and simple Purchase Pre-qualification Certificate: Getting pre-qualified to determine your purchasing power is fast and simple. One of our VA loan experts will qualify you over the phone for an appropriate sales price and loan amount. We will then give you a Pre-qualification Certificate which can be presented to your Realtor or Seller indicating you are a serious homebuyer and have been pre-qualified by a VA approved lender. We will work closely with you and your Realtor to ensure a smooth and successful closing. There is no obligation and we are happy to answer all your questions. Simply call our toll free number and ask to speak to a VA home loan expert. Let's get started with your purchase transaction now! Our VA Government Loan Center is staffed with processors, underwriters, and loan officers who are waiting to work on your loan. Our staff will be with you every step of the way ensuring a smooth and successful purchase transaction. Benefits of using your VA loan to purchase a home: * Zero down payment required * Flexible and make sense underwriting * Lower closing costs than conventional financing * Low rates and no monthly mortgage insurance Other Program Highlights: Zero down and zero closing costs - yes it's true! Yes, your VA home loan benefits allow you to purchase a property with zero money down and obtain a seller or lender credit to cover your allowable closing costs. This enables a veteran to purchase a property with zero down payment and zero closing costs. Ask one of our VA home loan experts to explain this process in detail. A service connected disability waives the funding fee - yes it's true! Yes, if you have a service connected disability your funding fee will be waived saving you potentially thousands of dollars at closing. Ask one of our VA home loan experts to explain how this works. First Step: Get prequalified to determine your maximum loan amount and get all your questions answered. Call 1.800.708.4618, and ask for a VA home loan expert. VA Home Loan Refinance Programs: VA Interest Rate Reduction Refinance Loans (IRRRLs), also known as VA Streamline: The Veterans Home Loans program allows a Veteran with an existing VA loan to simply refinance and trade their current loan in for a lower rate and payment. There is no income qualifying and the process is quick and easy. Just click on the 'Refinance' button and fill out the brief application. A qualified VA loan expert will contact you, go over your application, and get you pre-qualified. Let's get started! VA Cash Out Refinance: The VA refinance program allows Veterans to refinance their existing mortgage and pull cash out for any reason. Home improvement, bill consolidation, college tuition, or for personal needs. How do I get started? Simply call our 1-800-708-4618 and ask for a VA loan expert or fill out the online application and a loan officer will call you within 24 hours. VA Eligibility and Obtaining your VA Home Loan Benefits You may be eligible for a VA home loan if you meet any one of the following criteria: Active duty military with 90 days of service Served 181 days during peacetime on active duty, prior to Sept 1980 Served 24 months from Sept 1980 until start of Desert Storm Have served 6 years in the Reserves or National Guard You are an un-remarried spouse of a service member killed in the line of duty If you answered 'yes' to any one of these criteria, congratulations, you may be eligible for a VA home loan. The next step is to obtain your Certificate of Eligibility. Certificate of Eligibility The Certificate of Eligibility verifies that you are eligible for a VA home loan. This certificate can be obtained several different ways and should be done early in the loan process. Just call us and in most cases we are able to obtain your Certficate of Eligibility online within minutes. Veterans Home Loans - About Us The Residential Wholesale Mortgage, Inc. Government Loan Center is one of a kind in Southern California. We have been in business over 18 years serving the San Diego community and are an industry leader in originating, processing, and underwriting VA home loans. We feel our team's collective experience and expertise is unique. We take great pride in servicing our VA community and your loan will be hand carried from start to finish. We have a full staff of processors and underwriters just waiting to work on your loan. We are a member of the Wounded Warrior Foundation and donate a portion of every closed loan profit to support this important Foundation. Why use the VA Government Loan Center? We are approved through the Department of Veterans Affairs as a qualified VA Automatic home loan lender and have closed thousands of loans for satisfied San Diego homeowners. We understand the VA Home Loan Guaranty program and how to use it to close real estate transactions. We understand Realtor driven business, the purchase market, the importance of an accurate pre-qualification, and the importance of serving the Veteran through this process. Buying a home should be fun and exciting. Three reasons borrowers continually return to the Government Loan Center: * What's promised up front is delivered at closing * Intelligent feedback and reliable answers you can trust * Warm, personal service - your loan is important to us Key Staff members include: * Our VA Automatic underwriters have underwritten thousands of VA refinance and home loans and know the program guidelines and how to apply them to your specific needs. * Our Closing Department has funded and closed billions of dollars in home loans. They understand the importance of a closing date and meeting the needs of our veterans. * Loan officers who can quickly get you pre-qualified and move your loan swiftly from origination into funding. * Washington contacts and consultants who help us on tricky loan scenarios and help the Veteran secure their home loan benefits. A promise to our Veterans As you have been there for us, we will be there for you, guiding and protecting your loan application, from origination to funding. Our most important mission is to fund your loan and provide uncompromising service and integrity to all our Veterans. Federal Housing Administration (FHA) Loans
FHA loan programs are designed primarily for first-time home buyers and others with moderate incomes that have not yet been able to save the cash needed for down payment amounts. A program insurance charge is rolled into the monthly payment amount to support this program and typically ends as the loan is paid down over time. A variety of loans are offered through FHA programs, including fixed rate and adjustable rate mortgages for single-family homes, multi-family homes, condominiums and other home types. | | | | | | | | Down payments as low as 3.5% of sales price | | | Limited closing costs – many can be added into your loan | | | 100% of closing costs can be gifts from relatives or others | | | No minimum credit score requirements | | | Ability to finance home rehabilitation and energy efficiency improvements | | | Growing Equity Mortgages–low initial payments that grow with your income | | | No prepayment penalties | | | Refinance programs with streamlined documentation | | | Our loan officers are experienced in helping veterans determine their eligibility for VA loan programs, ordering VA assigned appraisals, and guiding the loan approval process. |
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