Sunday, May 26, 2024
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Phil Joseph
Branch Manager
Sr. Mortgage Loan Originator
Over 30 Years' Experience
Movement Mortgage 
Rancho Bernardo Branch
11770 Bernardo Plaza Court #451
San Diego California 92128

Direct: 619.507.3558
Fax: 858.430.2557
Email: Phil@PhilJoseph.com
Website: www.PhilJoseph.com
NMLS# 249549
 
Licensed in California by the Department  of Business
Oversight under the Residential Mortgage Lending Act 417-0015 
 
Movement Mortgage may not be the lender for all products offered on this website. Some loans may be made by a lender with whom American Pacific has a business relationship. Equal Housing Opportunity.
 
Phil Joseph
Branch Manager
Sr. Mortgage Loan Originator
Over 30 Years' Experience
Movement Mortgage 
Rancho Bernardo Branch
11770 Bernardo Plaza Court #451
San Diego California 92128

Direct: 619.507.3558
Fax: 858.430.2557
Email: Phil@PhilJoseph.com
Website: www.PhilJoseph.com
NMLS# 249549
 
Licensed in California by the Department  of Business
Oversight under the Residential Mortgage Lending Act 417-0015 
 
Movement Mortgage may not be the lender for all products offered on this website. Some loans may be made by a lender with whom American Pacific has a business relationship. Equal Housing Opportunity.

VA Loan Purposes

A VA-guaranteed Home Loan can be used

  1. To buy a home, a condominium unit in a VA-approved project, or to purchase a unit in a cooperative (co-op).
  2. To build a home.
  3. To simultaneously purchase and improve a home.
  4. To improve a home by installing energy-related features such as solar or heating/cooling systems, water heaters, insulation, weather-stripping/caulking, storm windows/doors, or other energy efficient improvements approved by the lender and VA. These features may be added to the purchase of an existing dwelling or by refinancing a home owned and occupied by the veteran. A loan can be increased up to $3,000 based on documented costs or up to $6,000 if the increase in the mortgage payment is offset by the expected reduction in utility costs. A refinancing loan may not exceed 90 percent of the appraised value plus the costs of the improvements. Check with a lender or VA for details.
  5. To refinance an existing home loan with a maximum loan to value that is higher than for conventional loans, or to refinance an existing VA loan to reduce the interest rate.
  6. To buy a manufactured home and/or lot.

Source: VA Home Loans – A Quick Guide for Homebuyers and Real Estate Professionals, www.benefits.va.gov/homeloans/vap26-91-1.asp