Far and away, the most significant benefit of a VA loan
is the borrower's ability to purchase with no money down.
Apart from the government's UDSA's Rural Development home
loan and Fannie Mae's Home Path, it's all but impossible
to find a lending option today that provides borrowers
with 100 percent financing.
VA loans also come with less stringent underwriting standards and requirements than conventional loans. In fact, about 80 percent of VA borrowers could not have qualified for a conventional loan. These loans also come with no private mortgage insurance (PMI), a monthly expense that conventional borrowers are required to pay unless they put down at least 20 percent of the loan amount.
Down payment as low as 0%.
Competitive interest rates that are routinely lower than conventional rates
No prepayment penalties
Higher allowable debt-to-income ratios than for many other loans
Streamlined refinancing loans that require no additional underwriting
"Even after our first refinance didn't go through because of an issue with our heater, Karim stuck with it and made it happen for the second time around. Highly recommended! Also, he knows a lot about mortgage loans and gave us some good advice that other mortgage brokers did not. Very reliable."
"Karim was very knowledgeable and made the potential tedious, stressful process of refinancing our home smooth and easy. I would highly recommend anyone to use his services. He was straight forward with no hidden agenda and worked with us to achieve what we wanted. He went above and beyond to assure we had a good experience. He assisted with any aspect of the refinance which at times included him working outside of normal business hours. He was very efficient and closed our loan in two weeks. Thanks for all of the help, Karim!"
"This was my best loan experience ever and I have done numerous real estate loans over 45 years. Karim and his assistant Laura seem completely dedicated to getting things done quickly and correctly. Our loan even closed early."
"Karim has helped us on refinancing 2 times. He got our loan closed within 30 days. He is well prepared for all the work and always resolve all of my concerns. Highly recommend to all."
"I found Karim Smail on Zillow, and based off reviews contacted him for our home refinance. Karim was always responsive and answered our many questions. He beat our comparison lender's fees and rates, and the process went very quickly and smoothly. We refinanced into a 15 year mortgage, cancelled our PMI and did a cash out to pay off debt. Our new monthly payment is comparable to our previous debt sum, yet we took 11 years off our mortgage ."
"This was my first experience refinancing and Karim made it very easy. He explained everything and made sense of the whole process. Any time I needed to speak with him on the phone or thru email he was very prompt in getting back to me. The rates were competitive and my cost was minimal. Can't go wrong with homex in my opinion."