Our Reviews
Benefits of VA Loans
Meet The Team
Wenhe Mortgage & Realty is committed to providing veterans with VA loans with the lowest rates and fastest turn times available in California. Wenhe Mortgage and Realty is the trusted source for California homebuyer’s and homeowner’s real estate transactions. We work with the leading lenders in the industry to provide you the most aggressive rates available.
Eligibility Requirements for VA Home Loans
VA loan eligibility is earned through serving our country. Active duty, Reservists and Guard members can earn eligibility based on the following: Active duty (Title 10) members can become eligible after 90 straight days during wartime or 181 days during peacetime. If not active duty, military members need to serve two continuous years, and Reservists and Guard members must serve six years.
Outside of being Active duty, Reservist or Guard, the VA has a rule regarding honorable discharge. To be eligible for a VA home loan, the veteran must have been separated from the military for reasons other than dishonorable discharge.
Find a more comprehensive overview on the Department of Veterans Affairs website.
What Can A VA Home Loan Be Used For?
- An existing home, or a condominium or townhouse in a VA-approved project.
- A multi-unit property (up to four-plex), provided the buyer occupies one of the units.
- A manufactured/mobile home or a modular home.
- A new construction. However, builders, plans, and building sites must be VA-approved.
What Can’t a VA Home Loan Be Used For?
- Property in a foreign country.
- A cooperatively (co-op) owned apartment.
- A farm, unless there is a residence on the property that the veteran can live in.
- Vacant land, unless there are immediate plans to build a home on the property.
- Investment property or a second home.
- A business loan.
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VA Streamline
A VA streamline is a great way to reduce your current mortgage rate and payment with minimal effort and time. As a California VA specialist, we offer some of the lowest VA rates in California to honor and thank our vets. Here are some of the program highlights:
- Low Wholesale rates
- Fast closings – 14 days or less on average
- No appraisal needed
- No income or asset verification required
- Reduced or waived funding-fee options
- Mortgage-only credit report pull
VA Loans
The VA is a great option due to the number of different loan programs for refinancing and purchasing. Wenhe Mortgage and Realty offers some of the lowest rates on VA loans in California.
Our VA Loan Highlights:
- Streamline IRRRL option
- No monthly PMI
- NO down payment for home purchases
- Close your loan less than 30 days
- Credit score of minimum 580 needed
- Cash-out allowed up to 100% loan to value (LTV)
- Refinance current VA loan up to 150% of the property value
Whether you currently own a home or about to own your first one and you’re interested in refinancing your current VA loan, Wenhe Mortgage and Realty can help.
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WENHE MORTGAGE & REALTY| CONTACT US: (619) 255-3182