(Newswire.net — October 30, 2019) — Phoenix, AZ — Jimmy Vercellino has been named one of the nation’s top 1% of loan originators. He works with Phoenix mortgage lender Goldwater Bank in helping military veterans qualify for VA mortgage home loans.
Phoenix, AZ—The recently enacted Blue Water Navy Vietnam Veterans Act of 2019, set to go into effect January 1, 2020, will expand the benefits for VA home loans. With the anticipated changes, mortgage originator Jimmy Vercellino notes that it is more important than ever for veterans to find a VA loan specialist to help them navigate the process of qualifying for and buying a home.
VA home loans are designed to help active military personnel and veterans qualify for purchasing a home. The program helps honorably discharged veterans by giving them the chance to buy a home without a down payment. Previously, there were restrictions on the price of a home one can buy without a down payment. The new law going into effect in January 2020 will change these limits.
The new law will raise the limits for the price of a home that can be purchased without a down payment. These limits are subject to change every year, and they are not decided by the VA but instead follow the housing market. The expanded limits for 2020 entail that next year, more homes on the market will become available to qualifying applicants without a down payment.
In addition, the 2020 law also includes a change that will eliminate funding fees for those on active duty and those who have received the Purple Heart award. That means that not only will veterans have a wider selection of homes from which they can choose, but will also not have to pay as much for getting their loans issued. Specialist Jimmy Vercellino at VA Loans for Vets encourages prospective homebuyers to get in touch as soon as possible to start the loan qualifying application and receive approval for a home purchase.
Everyone wants to honor veterans, and VA home loans are designed to do just that by expanding the benefits and taking away the fees associated with buying a home. Jimmy Vercellino and his team at VA Loans for Vets invite veterans in Phoenix to contact them for more information and to start the process of qualifying for their dream home.