Now Offering VA Loans in South Carolina | Valor Lending Group
The Valor VA Home Loan in South Carolina: A Key Advantage for Veterans & Active Duty
Veterans, active service members, reservists and eligible surviving spouses now have a powerful path to homeownership in South Carolina—through the Valor VA Home Loan.
Qualification requirements vary depending on your status.
For most qualifying service members there is a minimum active duty requirement which may range depending on your role, but for most it is just 90 days.
Valor Lending Group has had the pleasure of serving individuals all over the beautiful state of California and now we are taking on the state of Arizona! We are here to help you with the ins and outs of the VA loan process.
Valor Lending Group will go above and beyond to make your dreams come true! Trust us today with all of your loan needs!
What Are VA Loans?
The VA home loan, backed by the Department of Veteran Affairs, was first created in 1944. This loan assisted service members with purchasing or refinancing a home after returning from war without requiring a great credit score or down payment to do so. Later, some lenders increased their loan limits to above the county loan limits to assist current service members and veterans with larger purchases in areas where the conforming and high balance loan limits were much lower that the average house in the area. VA loans are up to 100% financing, limited closing costs, low interest rates for all who qualify whether it is a purchase or refinance including a cash out refinance and no mortgage insurance.
Why Use VA Loans?
VA loans are the right of any service member who serves or has served in the armed forces and received an honorable discharge. It is structured in a way, to include the lowest interest rate, highest amount of leverage, being backed by the VA, to provide our service members and veterans a fantastic VA benefit because of the sacrifice that they or their spouses have made to protect and defend our amazing country. Thank you for serving! This is one of the most valuable benefits for serving. The qualifying income is viewed in conjunction with all debts, and a debt-to-income (“DTI”) ratio is calculated. Traditional mortgage lenders would be required to have a DTI of no more that 50% even with a lower credit score and 100% financing.
Finding The Best VA Lenders
Many VA lenders and banks do have a retail channel, but not all VA lenders and banks can provide funding above the conforming high balance county limits. Those lenders typically do not have a retail channel but instead require the use of a broker. The best VA brokers will make sure to find the best VA lenders with the most favorable terms regardless of the borrower’s financial situation. It is in the broker’s best interest to find the lowest rate and most favorable terms available to best serve their VA loan clients. If you are considering purchasing or refinancing a property using a VA loan, it is best to make sure you maintain your Service documents i.e., Certificate of Eligibility, DD214, VA Award letter and VA disability and/or retirement benefit information. As well as, tax records, W2’s, 1099’s and paystubs.
Additionally, keep organized bank statements, retirement account statements and savings for a down payment. Be prepared by speaking with a broker to obtain a preapproval letter. Valor Lending Group is a veteran and service member supporter and we donate 5% of our commission on every VA loan to a veterans charity of the borrower’s choosing and will reimburse for appraisals with loan amounts over $300,000.
VA Jumbo Loans
It is also possible to get a “VA jumbo” loan. These are simply VA loans above a certain dollar amount, which is higher or lower depending on the county.
What VA Loans Are NOT
1) VA Loans Are NOT “Conventional Loans”
VA loans require that you are active duty, honorably discharged or the surviving spouse of a service member who dies while in service, passed away due to a service -related injury or their spouse was MIA or a POW for at least 90 days. In addition, the surviving spouse may not be remarried. In short, a borrower must have had a connection to the military to qualify.
2) VA Loans Are NOT “more difficult than traditional mortgages”
VA loans are said to be more difficult than a conventional or traditional mortgage. This is a big misconception that needs to be debunked. The VA home loan is specialized for the qualified buyer. This means there is a few additional documents needed to confirm qualification for this loan. Those Items are a DD214, VA award letter, VA disability letter and or retirement letter if applicable. Other than these additional documents, everything else required is the same as for conventional financing. Does that sound a lot more difficult?
Valor VA Loan Highlights
- 100% financing
- Sellers can pay closing costs, up to 2 discount points
- Buyers can add up to $6,000 to their VA loan to have energy efficient improvements installed
- No monthly mortgage insurance
- Less restrictive qualifying terms
- Buyers still eligible even after a short sale
- Buyers can have multiple VA loans under certain circumstances
- *Valor will reimburse your appraisal fee for loans above $300,000
For a quote please email Laura Licea the following:
- Property Address:
- Purchase Price (for purchase):
- Current Value (for refinance):
- Balance of current Mortgage (for refinance):
- Approx. Credit Score:
Learn more about Valor VA home loans
Valor Lending Group is committed to serving our Veterans during this time of uncertainty.
**We give 5% of proceeds to a local Veteran charity on every VALOR VA Loan
CALL OR EMAIL me for immediate attention to your scenario!
Recap of our Loan Products
- Hard Money Loans (20% down / minimal documentation) Typically Fund in 7-10 days.
- Stated Income Loans (Great for business owners and self employed ) No tax returns!
- 100% financing is available (we can cross collateralize other properties if there is enough equity)
- Valor VA Home Loan 100% financing up to $1.5MM
- Rental Property Loan – No tax returns or DTI calculation! Based on subject property cash flow – No DSCR Coverage needed!
- Flipper & Rehab Loans (Flip a property with one of our many options)
- 2nd Position Loans up to $5mm
- Raw Land & Lot Loans
- Ground up Construction for spec homes, custom homes and commercial ground up.
- Farms, Vineyards, Ranches and Agricultural Properties (25-30% down)
- 10% down Jumbo’s up to $1.5mm
- Manufactured Housing
- Acreage Properties
- Commercial Loans up to $500mm
- 3% & 5% down Conventional Loans–
- Foreign Nationals Loans (no social security or residency required)
We Also Offer:
- Conventional Conforming Loans
- High Balance Conforming
- Jumbo Loan Financing | 10% down Jumbo to $1.5mm
- FHA, USDA
- Reverse mortgages up to $1 Million Value
- Cash Out Refinancing
We are never too busy for your referrals.
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