VA Loans

While America can never thank you enough for your military service, a VA loan and its outstanding benefits are a great start. This loan option is designed to make homebuying more affordable for American veterans, current military members, reservists, and select surviving spouses by eliminating down payment and private mortgage insurance costs. This makes a VA loan easily the most attractive option for those who qualify. While a VA loan may come packed full of awesome benefits, it also comes with specific paperwork and qualifications set by the department of veteran’s affairs and your lender. This can make the process of securing a VA loan a hassle if you don’t have someone on your side that knows the ins and outs. With years of experience and a sincere appreciation for our current and former service members, the Bally team has your back.


How to Get Started with Getting a VA Loan 


From gathering service paperwork to confirm your eligibility to the financial documents needed to ensure you qualify, the process of getting everything to finalize your VA loan can be very time-consuming. You deserve to spend this hard-earned time enjoying the things and people you worked to keep safe.Not providing the appropriate paperwork promptly can result in delayed closing or cause you to miss out on locking in that super low-interest rate. The Bally team wants to make sure you’re enjoying your new home as quickly as you can while saving the most possible on interest and fees.


Advantages of Getting a VA Loan


Your invaluable service has earned you the benefits provided by a VA loan, and we want to make sure you can take full advantage of everything that’s offered. Below is a list of the advantages offered in a VA loan:

  • Eligible homebuyers are not required to have a down payment in most cases – this is the greatest VA loan benefit. 
  • No monthly mortgage insurance premiums or PMI to pay. FHA loans come with both an upfront and an annual mortgage insurance charge. Conventional buyers typically need to pay for private mortgage insurance unless they’re making a down payment of 20 percent or more.
  • Limitation on buyer's closing costs. Sellers can pay all of a buyer’s loan-related closing costs and up to 4 percent in concessions.
  • Lower average interest rates than other loan types. VA loans continue to have the lowest average interest rates of all loan types.
  • No prepayment penalties. VA buyers can pay off a loan early without any financial penalties.
  • Two refinance options. The VA loan program allows homeowners with existing VA loans the option to lower their monthly payment with a new interest rate. Eligible homeowners who financed their property with a loan other than a VA loan can refinance into the VA loan program.
  • Second tier entitlement. Even though many veterans have already used their loan benefits, it may be possible for them to buy homes again with VA financing using remaining or restored loan entitlement.
  • An assumable mortgage, typically subject to VA and/or lender approval. You may be able to have someone take over your mortgage payment, which can be a big benefit in an environment of rising interest rates.
  • Foreclosure avoidance advocacy from the VA loan program. The VA has staff members who advocate on behalf of homeowners to find alternatives to foreclosure.
  • The Bally team wants to guide you step by step through each portion of the process and assure you’re comfortable in every portion of your home buying journey.


When you work with the Bally team, you’ll find every step of the process broken up into manageable, easy to understand steps that lead you directly to your home buying dream. The Bally team will provide first-class support, and you’ll know from day one that you have a partner with your best intentions in mind. Some of the guaranteed services we offer are:

  • Support from a passionate and dedicated staff.
  • Years of VA loan experience.
  • Education on the overall process of obtaining your loan and step by step support.
  • Exploration of comparable loan products to make sure you have the best option available.
  • 0 fees on all loans.
  • Assistance from the very beginning of the process until the very end.
  • Our first-class service leaves an undeniable positive impact on every client we’re fortunate enough to work with. Even just reading a few of our reviews gives you an understanding of the high-quality assistance we provide.


“Amer was amazing, got me an amazing rate, and walked me through the process step by step. I cannot express how fantastic he, and The Bally team were. If you are in the market for buying a place, LOOK NO FURTHER!! Thank You!!”

Ben Smith 03/06/20
“Amer and his team are amazing people to work with! I truly cannot say enough good things about them! They are willing to help borrowers out in any way they can and have the borrower’s best interest in mind. He made buying a new home a breeze! If you're buying a new home, I definitely recommend you let the Bally Team help you out!”

Shannon Frey 03/04/2020


Get a VA Loan

By working with the Bally team, you’ll receive amazing service from a team that makes sure you receive the best interest rate possible. We have years of experience navigating the process of VA loans and we’ll make sure you’re comfortable and confident every step of the way.Our preapproval process is completely free and will get you ahead of the game in securing a low-interest VA loan. We charge absolutely 0 fees on our loans, leaving you more of your hard-earned money once the process is complete.To top it all off, we can close your mortgage in as little as 20 days in some cases! This beats the industry standard by ten days, allowing you even more time in your new beautiful home.
FREQUENTLY ANSWERED QUESTIONS
Q: How can I obtain proof of military service?A: Standard Form 180, Request Pertaining to Military Records, is used to apply for proof of military service regardless of whether you served on regular active duty or in the selected reserves. This request form is NOT processed by VA. Rather, Standard Form 180 is completed and mailed to the appropriate custodian of military service records. Instructions are provided on the reverse of the form to assist in determining the correct forwarding address.
Q: Is the surviving spouse of a deceased veteran eligible for the home loan benefit?A: The unmarried surviving spouse of a veteran who died on active duty or as the result of a service-connected disability is eligible for the home loan benefit. If you wish to make an application for the home loan benefit as a surviving spouse, contact The Atlanta Eligibility Center. Also, a surviving spouse who obtained a VA home loan with the veteran before his or her death (regardless of the cause of death), may obtain a VA guaranteed interest rate reduction refinance loan. For more information, contact The Atlanta Eligibility Center.
Q: I have already obtained one VA loan. Can I get another one?A: Yes, your eligibility is reusable, depending on the circumstances. Normally, if you have paid off your prior VA loan and disposed of the property, you can have your used eligibility restored for additional use. Also, on a one-time-only basis, you may have your eligibility restored if your prior VA loan has been paid in full but you still own the property. In either case, to obtain restoration of eligibility, the veteran must send a completed VA Form 26-1880 to The Atlanta Eligibility Center. To prevent delays in processing, it is also advisable to include evidence that the prior loan has been paid in full and, if applicable, the property disposed of. This evidence can be in the form of a paid-in-full statement from the former lender, or a copy of the HUD-1 settlement statement completed in connection with a sale of the property or refinance of the prior loan.
Q: Are the children of a living or deceased veteran eligible for the home loan benefit?A: No, the children of an eligible veteran are not eligible for the home loan benefit.
Q: How long do I have to serve before I qualify for a VA loan?A: Generally, you're eligible if you've served at least 90 consecutive days on active duty during wartime or 181 days during peacetime. Income and credit guidelines will still need to be met.


GET IN TOUCH TODAY


Call us now at 586-945-3424 or send us a message or get a jump start on the process by completing the pre-approval. We can’t wait to hear from you!