Purchasing with a VA Mortgage Loan in Tucson Arizona


 

By Joseph Small

veteran in front of houseSo you would like to purchase a home in Tucson, Arizona with a VA mortgage loan? VA mortgage loans offer 100% financing to eligible veterans and active military. Unlike other types of home loan financing, VA home loans do not have annual mortgage insurance (MI). Coupled with low mortgage interest rates, you can quickly see the advantages of using a VA mortgage loan for your Tucson home purchase.

VA mortgage loans can be used for the following purposes:

1. To buy an existing home, including a townhouse or condominium unit in a VA-approved development.
2. To build a home.
3. To simultaneously purchase and improve a home.
4. To improve a home by installing energy-related features.
5. To refinance an existing home loan.
6. Cash-out refinance
7. Reduce the interest rate (Interest Rate Reduction Refinance Loan)
8. Hybrid Adjustable Rate Mortgage
9. Adjustable Rate Mortgage (ARM)
10. Convert an adjustable rate mortgage to a fixed rate loan.

What property types are available for VA mortgage financing in Tucson?

VA mortgage loans are an excellent choice for Tucson veterans and active military and can be used for either a purchase of an existing home or for the construction of a new home.

However, we often get asked about purchasing an investment property with a VA mortgage loan. In short, VA mortgage loans are for owner-occupied properties only and cannot be used for an investment or a second home.

Note: All loans subject to underwriter approval; terms and conditions may apply. Subject to change without notice.
 
Joseph Small and his team at Guild Mortgage Company is your trusted source for all your VA Mortgage Loan needs in Tucson, Sierra Vista, Green Valley and Nogales, Arizona.

Tucson’s VA home loan mortgage experts!


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