VA Loan Guidelines Explained for Military and Veterans

VA Loan – Understanding Your Options

Learn how VA loan guidelines help Veterans, Active Military, and Surviving Spouses finance the purchase or refinance of a home. VA loan rates and payments are so low right now, so check out how the flexible VA loan requirements will help make your home payment match your budget below.

VA Loan Features

  • Available to Veterans, Active Military, Surviving spouse of Veteran
  • No monthly PMI – helps keep payments low
  • No money down to $484,350 – some areas up to $625,500!
  • VA Jumbo loans to $1,000,000 with low down payment
  • You can have two VA loans at once – Bonus Entitlement
  • VA waives the funding fee for disabled Vets
  • Flexible guidelines including credit scores to 600
  • Low fixed and adjustable rates – choose which works for you
  • VA streamlined refinancing for rate and/or term reduction – IRRRL
  • Cash out refinancing to pay off a non-VA mortgage and other items
  • Seller can pay all closing costs and even a Veteran’s debts or existing lease
No More VA Loan Limits Beginning 1/1/2020

Disabled Veteran Discounts Can Buy a Home Cheaper

Disabled Veterans can save $ thousands on VA mortgages and other areas as well. First of all, the Department of Veteran Affairs waives the VA Funding Fee for Veterans 10% or more disabled. So what does that mean? VA financing requires a VA funding fee which ranges from 1.25% – 3.3% depending on several factors. Except for disabled Vets!

In addition to saving on the funding fee, qualifying disabled Veterans may get a tax break as well. NC and SC offer property tax discounts. Each state has differing programs though. In SC, Veterans with a 100% service connected disability may apply for complete exemption from property taxes. Free taxes! Then across the line in NC, disabled Veterans may apply for one of the Property Tax Relief programs. These are discounts rather than exemptions. Either way, just another way to save money.

How to get started on a VA loan?

With Team Move, you will experience expertise and attention to detail. Our process towards closing your VA mortgage starts with an application. The application may be on the phone, online, or face to face. Whichever works best for you. We also work around your military schedule. So let us know if you prefer a call or meeting before or after hours. During the application, we discuss your goals and scenario. Next, our clients will receive a quick & accurate pre-qualification, a detailed list of items needed which is tailored for our client’s situation, and a breakdown of a VA loan payment and costs.

Don’t have your Certificate of Eligibility or DD214? Let us help you! Our processing staff are experts at obtaining the Certificate of Eligibility or even a duplicate DD214 if needed. We will provide updates in writing throughout the process, will explain the VA loan in detail, and finally your loan officer will attend the closing offering, once again, the support that you deserve. This is our promise to you, our respected military!

“Thank you so much for being so easy to work with! Also, I can’t thank you enough for being so understanding of the military schedule. It wasn’t easy at times with me being away, but your team was absolutely wonderful and so easy to work with.I can’t say enough positive things. Thank you so much for being so helpful and answering the thousands of questions I/we had. Your team did an amazing job!I couldn’t have asked for better service!”

– C. and A. Collins, USMC, Hampstead, NC

VA IRRRL – Streamline Refinance of a VA loan

Homeowners with a current VA loan may refinance to a lower rate or term with a VA IRRRL. IRRRL stands for Interest Rate Reduction Refinance and it is a streamline process too. This VA refinance will often allow for a Veteran or service member to remove a divorced spouse. Ask us how. There is no income verification nor an appraisal most of the time! Therefore with rates being so low now, check with us to see if a refinance makes sense.

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What Our Clients Think

Russell Is A True Professional

Russell is a true professional who truly enjoys helping other people. Russell and his team will go above and beyond to take care of your mortgage needs whether you are building, buying or refinancing. If you are looking for mortgage options I am confident that you will find that Russell and his team are the best in the business offering you good sound advice and the expertise to help you through the mortgage process.

Sue S.
Whiteville, NC
July 21, 2019

He Was A Huge Asset!

Russell was an huge asset to my husband and I when we purchased our home! He made the process incredibly seamless.Everything went off without a hitch on his end. My parents recommended him to us, and we hope to use him again for a future home purchase.

Vi C.
Raleigh, NC
July 19, 2019

I Would Recommend Him To Anyone

Russell helped me finance the purchase of my first home, and after working with him, I would recommend him to anyone. The property I had been renting was being foreclosed on, and I was given almost no notice to vacate, so I needed to find something quickly. Russell and his team were extremely attentive and diligent throughout my search, reviewing each property I considered and giving me estimates on what my monthly payments would be for each, which helped me greatly to facilitate a quick decision. Russell was a Superhero when it came to exploring different financing options, and finding something that would not only work for me, but with a better interest rate than I expect I would have gotten elsewhere. He always seemed to be available when I needed him, and he was always on top of everything throughout the entire process. I sincerely hope I do not need another mortgage anytime soon, but if I do, I know for sure who I will be going to! Thank You for Everything, Russell!

Vanessa K.
Wilmington, NC
July 21, 2019

Always Professional And Responsive
To Our Requests & Needs

I had the pleasure of working with Russell and Amy on a transaction that I thought was “dead in the water”. Their team had actually been recommended by another agent who had used their services and thought they might be able to assist my buyer and me. To my surprise, they were able to provide the kind of assistance that resulted in a successful closed transaction. Russell and his team were always professional and responsive to our every request and need. There was never a time when we called that they did not respond immediately. My client and I were thrilled that they were able to get us closed when we both thought that all hope was lost. Today, my buyer is the proud owner of her first home, due in no small part to the hard work, knowledge, and dedication of this team. I am more than satisfied with the outstanding service that I and my client received, and will not hesitate to refer them to other clients, or use them whenever I can.

Pat Heath, REALTOR ®
July 21, 2019

Someone You Can Trust In The Mortgage Industry

Russell has always been someone you can trust in the mortgage industry. He goes above and beyond for his clients, while also continuing to perform his work with integrity. His teams have always produced great results and are very good to work with.

Michael B.
Burgaw, NC
July 21, 2019

Dedicated Mortgage Professional
With A High Level Of Integrity

Russell is a dedicated mortgage professional with a high level of integrity who, since 2010, has assisted several of my buyers with obtaining a mortgage. In addition to having an outstanding knowledge of the business, Russell is honest, trustworthy, realistic about what it takes to get a loan closed and does it in a timely manner. I highly recommend him for anyone in the market for a mortgage or refinance of their home.

Linda Mehner, REALTOR®
June 19, 2020

Knowledgeable, Professional, Prompt

It has been such a pleasure working with Russell Smith. He is knowledgeable, professional, prompt and goes out of his way to handle any issues that arise. Buying a home is very stressful, he and his team took so much stress off of me during the entire process. Amy, who is the main point of contact, is a huge asset to the company, she helped me so much as well. I highly recommend them for all of your lending needs.

September 30, 2019

Professional and Helpful

My husband and I were recommended to Russell Smith, by our daughter and son in law. They had talked about what a good experience they had with Russell and Blue Ridge Bank, when they bought their home. We were very pleased with how everything was handled in a professional way. Russell was very helpful. We would certainly recommend Russell and Blue Ridge bank to others who may be buying a home or refinancing their present home mortgage.

Mary W.
Calabash, NC
September 30, 2019

You All Are Fantastic!!

I just wanted to say THANK YOU TO EVERYONE at Blue Ridge Bank Mortgage. I have never worked with a lender that has made a closing happen this fast and not to mention without any confusion. You kept everyone on the same page. You all are FANTASTIC!! I wish I could work with you on every closing.

Tammy Burgess
October 2, 2019

Highly Recommend Russell Smith

We could not have been more delighted and pleased to have Russell Smith and his team handle our recent home financing. From start to finish the process was fast, efficient and stressless. Our loan was fully approved well in advance of our closing date, and we look forward to having Russell help us with any future mortgage needs. Highly recommend Russell Smith and his team at Blue Ridge Bank!

Pat W.
Alberta, VA
October 2, 2019

Russell Smith & Amy Kurtyka: Best in the Business

Russell Smith and Amy Kurtyka are simply the best in the business. They completely saved us from disaster during our home purchase. My wife and I had been working for almost 2 months with another bank on a mortgage. 1 week before closing, despite meeting all conditions, the bank denied the loan. We were crushed and desperate. With us WAY too far along in the process to start the home search again, and with an anxious seller, there was only one person recommended to us: Russell Smith. They told us if anyone could pull it off it was Russell (and Amy). And they did it. IN 6 DAYS (start to finish) we were approved and were able to close on the original close date. No one can believe it, and neither can we. Russell and Amy worked well into the night every one of those 6 days and pulled off the impossible. Now we have our dream house. We will forever be in their debt'…'so to speak. I will never work with another bank. Blue Ridge Bank should be the first and last place you look to meet your lending needs. Don'’'t waste your time, go with the best.

Allen R.
Wilmington NC
October 9, 2019

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