Envoy For Vets

Bringing our Veterans Home for over 20 years

The VA loan stands out among the rest for many reasons, but one reason remains constant– to help veterans and their families finance their dream home.

Over the last 70 years, the VA loan program has helped over 20 million Veterans realize their
dreams of homeownership. At Envoy, we train and certify our Loan Officers and Realtor partners in working with VA loans so that we can assist more and more Veterans all across the nation achieve the home of their dreams.

JOIN US IN HELPING OUR VETERANS FINANCE THEIR DREAM HOMES AND GET ENVOY CERTIFIED VA.

VA loans have many benefits over other financing options. In most cases, one of the biggest benefits is the ability to purchase a home with no money down. Another major benefit of VA loans is that the veteran is not required to pay Private Mortgage Insurance (PMI), insurance that protects the lender in case the borrower defaults on the loan. Depending on the situation the Veteran will pay a one time VA Funding Fee based on the eligibility requirements of the Veteran.

Below is a comparison to how VA Loan compares to a traditional home mortgage regarding down payments and PMI savings in our comparison charts.

Minimum Down Payment

(The calculation below are based on what loan terms?) In addition the chart is missing LTV information.

Sales Price Loan Type Down Payment Amount
$200,000 Conventional 5% $10,000
VA 0% $0
$300,000 Conventional 5% $15,000
VA 0% $0
$400,000 Conventional 5% $20,000
VA 0% $0

Estimated Monthly PMI Savings (Compared to a 30 year conventional loan with 5% down)

Loan Amount Estimated Monthly Savings
$100,000 $74/mo
$200,000 $148/mo
Loan Amount Estimated Monthly Savings
$300,000 $222/mo
$400,000 $297/mo

VA LOAN LIMITS

For most of the United States, the maximum amount a Veteran can borrow without making a down payment is $417,000.

There are some areas identified as “high balance counties” that allow for 100% financing over $417,000. The following link provides the maximum loan amount with no down payment by county:

Download PDF

This is the maximum amount the Veteran can generally borrow without making a down payment.

VA does allow for loan amounts over the county loan limits as long as the loan meets the guaranty requirements which would require a down payment from the Veteran. However, the down payment required in many cases is much lower than other financing options. Contact us to learn more.

Contact an Envoy Certified VA Loan Officer

ELIGIBILITY REQUIREMENTS

Active or retired military Veterans are generally eligible for VA financing if one or more of the following conditions are met:

  • The Veteran has served 90 consecutive days of active service during wartime.
  • The Veteran has served 181 days of active service during peacetime.
  • The Veteran has more than 6 years of service in the National Guard or Reserves.
  • The borrower is the spouse of a service member who has died in the line of duty or as a result of a service-related disability.

OBTAINING YOUR CERTIFICATE OF ELIGIBILITY

The Certificate of Eligibility (COE) is the one of the documents lenders must rely upon in order to determine the maximum loan amount available to the Veteran. In most cases your lender can obtain the Veteran’s Certificate of Eligibility (COE).

If you would like to obtain your own certificate of eligibility, please click on the link below.

benefits.va.gov

REFINANCING

In addition to financing to purchase a home, Envoy Mortgage offers refinance options that are unique to Veterans.

Qualified homeowners have the ability to take advantage of lower rates and decrease their monthly mortgage payment. Veterans have two refinance options available: an Interest Rate Reduction Refinance Loan (IRRRL) and a cash-out refinance.

An IRRRL allows the Veteran to refinance and reduce their interest rate/payment with very limited documentation. Additionally, the Veteran is generally not required to have any equity in the property. This compares very favorability to other loan programs.

For in an-depth look for which refinance option to choose, click here to reach out to an Envoy originator that has been specially trained in dealing with VA loans.

ENVOY'S VA BOOT CAMP CERTIFICATIONS

Veteran Homebuyers are gravitating towards Envoy Certified VA Realtors

As a Veteran going through the home buying process, gathering the right information and understanding the benefits available to them can seem overwhelming, but with the right team by their side, it doesn’t have to be!

There are many misconceptions about the VA loan. Envoy’s VA Boot Camp Certifications were created to train our Loan Officers and Realtors on the ins and outs of the VA loan and dispel these common misconceptions. Our goal is to develop each trainee into a knowledgeable and skilled expert in dealing with the VA loan to ensure a successful home purchase for our Veteran borrowers.

With over 150 Envoy branch locations throughout the U.S. serving our VA community, there are many opportunities to join with skilled professionals that have received their Envoy Certification. Learn why the VA loan is the right product for financing your clients’ dream home. Our Veterans have served us, now it’s time for us to serve them.

Sign Up Now

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700,107

...dreams of financing a home were made possible in 2016 because of the VA Loan

22 Million

...veterans living in the U.S. in 2016

12%

...increase in total VA loans, showing that the VA loan is increasing in popularity

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DID YOU KNOW THAT WITH A VA LOAN:

No Down Payment is required

Being one of the main reasons to choose the VA Loan, qualified buyers can purchase their home without putting any money down. You heard us right – no down payment at all. Other loan products, such as FHA and conventional, requires around a 3.5 percent or 5 percent down payment.

No Private Mortgage Insurance is required

Avoiding mortgage insurance fees also becomes a reality with the VA loan. Private Mortgage Insurance (PMI) is an insurance that protects the lender in case the borrower defaults on the loan. No PMI allows the borrower to save hundreds monthly.

Qualifying for a mortgage loan becomes easier

Because the government supports VA loans, they tend to have more relaxed requirements for qualification. This makes it easier for Veterans and their families to obtain a loan.

This is just the tip of the iceberg. With a growing list of advantages and constant changes to VA loan requirements, exemptions and more, now is the time to sign up for our Envoy VA Boot Camp. As the number of Veterans grow each year, so do your reasons for becoming Envoy Certified VA professional.

OUR VA TRAINING PROCESS

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NETWORK WITH OUR ENVOY VA CERTIFIED LOAN OFFICERS

With 88% of our Loan Originators being Envoy Certified, helping Veterans reach their dreams of homeownership is what we do best. Let us show you what the VA loan is all about and how your clients can save money through this product.

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SIGN UP FOR A VA BOOT CAMP

Our interactive Boot Camp trainings are hosted either live at our local branch locations or online via webinar by an Envoy Certified VA professional. Visit our Calendar of events to sign up for our next VA Boot Camp training.

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BECOME CERTIFIED AND WATCH YOUR BUSINESS INCREASE

Becoming Envoy Certified VA means more than receiving a power-packed training from an expert team – it’s about learning how to best assist your Veteran buyers and grow your VA business! More and more Veteran buyers are turning to Envoy for skilled guidance throughout their home purchase. Set yourself apart from the competition, transform your business and expect to see more and more opportunities with your VA clients for years to come.

JOIN US IN HELPING OUR VETERANS FINANCE THEIR DREAM HOMES AND GET ENVOY CERTIFIED.

CONTACT AN ENVOY CERTIFIED VA LOAN OFFICER  SIGN UP NOW

*Thank you for your interest in becoming an Envoy Certified VA Professional. We are currently in the final stages of completing our VA Boot Camp Training Calendar. For information on our next events or to learn more, please leave us your information below and we will get back to you shortly!

Contact an Envoy VA Certified Loan Officer