VA Loans
GMM is proud to work with Military Families and Veteran Homebuyers. Our experienced Loan Officers can help you navigate the home mortgage process to get you into your new home with ease.
Thank you for your service and the sacrifice you and your family have made.
About VA Loans
A VA loan is a mortgage guaranteed by the U.S. Department of Veterans Affairs (VA) specifically for members of the military to buy and refinance homes. Eligible veterans, active-duty service members, reservists and their spouses may be able to finance a home with no down payment and flexible credit requirements.
VA entitlement is linked to the VA guarantee, which works like mortgage insurance and protects a lender against losses if you default, much like mortgage insurance charged on conventional and FHA loans. However, the VA guarantee isn’t added to your monthly payment or charged as a lump sum, resulting in a lower VA monthly payment compared to a low down payment conventional or FHA loan.
Found the perfect land to build your dream home? Whether you plan to build your home right away or a few years from now, GMM is here to help you get started. Our Land Lot Loan is a loan that can be used to finance the purchase of land or a lot property for your new home.
If you’ve served in the Army, Navy, Air Force, Marines, Coast Guard, Public Health Service Corps, or National Oceanic and Atmosphere Administration (NOAA) Corps, you may have earned VA loan benefits.
You may be eligible if you:
- Served 2 years Regular Service
- Served 6 years Reserves/National Guard
- Served 90 days Active Duty during war-time
- Served 181 days Active Duty during peacetime
- Released early for duty-related disability
- Are a surviving spouse of a veteran
- Are a cadet or midshipmen of a U.S. military academy
- Are a member of certain other Federal service orginizations
- VA home loans often have lower interest rates and closing costs than conventional loans
- You may not have to make a down payment and mortgage insurance is not required
- You do not have to pay a penalty if you pay off your VA home loan early
You will need to get a Certificate of Eligibility (COE) to prove you are eligible for a VA loan. Then you can apply for a VA loan through George Mason Mortgage.
Typically, you can apply for a COE through www.ebenefits.va.gov. However, in some cases, your lender may be able to establish your eligibility and obtain your COE online. Ask us about using this method to obtain a COE.
Yes, there are VA Loan refinance options. Learn more here.
- Low Fixed-Rate and Adjustable-Rate
(ARM) Loans - No private mortgage insurance requirement
- 100% financing up to the VA lending limit in your area1
- No Down Payment Required
(in most cases) - Right to prepay loan without penalties
- Closing costs comparable – and sometimes lower – than other
financing types - Mortgage can be taken over (or “assumed”) by the buyer when a home is sold. (Must be VA eligible)
- Counseling and assistance available to veteran borrowers having financial difficulty or facing default on their loan
1. VA loans require a non-refundable VA funding fee at closing. Maximum VA loan amounts vary by county. George Mason Mortgage, LLC is not endorsed by, or affiliated with any government agency or program.
Nick Kristoff
Senior Loan Officer
NMLS: 379253
O: (843) 603-5924
C: (843) 290-9110
F: (703) 653-3343
nkristoff@gmmllc.com
Mike Kristoff
Senior Loan Officer
NMLS: 377707
O: (843) 603-5924
C: (843) 301-7070
F: (703) 449-5546
mkristoff@gmmllc.com
This is not a commitment to lend. All loan applications are subject to credit and property approval and must meet loan program requirements to qualify. Annual Percentage Rate (APR), programs, rates, fees, closing costs, terms and conditions are subject to change without notice and may vary depending upon credit history and transaction specifics. Flood and/or property hazard insurance may be required.
