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
"We had so much fun working on our home purchase with Mike. We were able to find the property and close on the home in 30 days! Mike is fast and reliable and has excellent follow-up. He even kept up with us while on vacation. The entire project went off without a hitch. Thanks Mike"
"Would highly recommend Jason!!We had nothing but an amazing experience in getting our loan done so quickly & efficiently and with such a great rate. We appreciate all the hard work you went through to make sure it all go so smoothly.Not only that but our closing costs were much lower than we anticipated!We would recommend you in a heartbeat!"
"A total pleasure working with Mike. If you want someone to be there for you throughout your process step by step this is the guy, always a step ahead."
"This was the first time I was buying a home by myself and the entire process of obtaining a mortgage seemed daunting and intimidating. Jason came highly recommended by my realtor and made the entire experience easy and stress free. Not only is he a wealth of knowledge but took his time to patiently explain each step of the process to me. Highly recommend!"
"I would highly recommend Mortgage Mike as he was great and got me into my dream home with below market rates and closing cost. If you are looking for the best mortgage I would highly recommend Mortgage Mike."
"Jason will work tirelessly to accommodate his clients needs. He provides good options and direction with very good follow through until your transaction with him is complete. He is on top of it!"
"Mike was great in helping me close my loan... We had a long process and many complexities, but he was able to get it done. I really appreciate all his hard work."
"As a first time home buyer, Jason explained every step of the process and made magic happen. Not only was he the easiest person to work with, but he did what no one else could, and quickly - I was in my home in 21 days. I would highly recommend Jason to any individual looking to get in a home fast and with a good rate."
"Michael was very professional and tried to accommodate and help through the process and make it as smooth as possible. I would highly recommend his services ."
"Jason helped me through my long journey of buying a house. I must of had him approve me for 6 houses!! He was always so patient and extremely accommodating with all methods of communication in obtaining information. He went above and beyond to get me the best interest rate when I finally signed for this house. He was available every time I called or texted (which was a lot so sorry Jason!) Thank you for everything Jason. You’re an all star!!!!"
"Mike helped us from the beginning being very responsive to all our questions and concerns. We are 1st time buyers and the process for a loan was very difficult to understand. Mike and his team did an outstanding job!"
"Mike is really professional and responded my questions really quickly. He could explain the questions I had to me in a really easy way. He always kept things moving and helped me resolve the issues. He helped me to close the deal within 30 days. Strongly recommend him!"
"Michael Schoonover's mortgage team was an incredible team to work with through the entire process. He was on top of all his tasks related to my case. Always expediting things in a fast and professional manner. Always cordial and pleasant to deal wwith. Always has a positive attitude to get all task done. Mr. Schoonover is a “man/machine” getting the job done no matter how late and how many hours it took get the job done. And by this a mean not just getting the job just “done.”. It means making you feel at ease even when you think it will be endless and never going to end. Mr. Schoonover is professionally one of the persons that has been the most pleasant to get a task done that have yet to encountered. It was an honor having him by my side through the entire process. All the way from the beginning to the day of closing the deal. I greatly appreciate his and his teams hard work."
"Could not be happier with Mike as a broker. He was patient and attentive, always one step ahead and made my deal a breeze. Highly professional and very knowledgeable. He can definitely get the job done."
"It is awesome working with Mike. Mike explains all of my questions and get the work done very quick. The loan process is smooth and much easier with his help. I will recommend Mike to all who need to finance their homes."
"Mike went above and beyond and got the job done. Buying a home is a very stressful process so I appreciated someone explaining things to me in a direct, informative manner. There were a lot of unknowns in the process but Mike helped immensely. He also got me a really great rate which I am happy about. I recommend Mike for all of your mortgage needs."
"I must say that I am happy and satisfied with the services. I was able to close on my mortgage for my apartment in Edgewater. The loan process is quite stressful & back and forth so be patient and yet proactive . Be ready to provide documents/ files that you probably never had opened nor heard of but you will. Make sure you read prior to applying. Mike C. & Michael S. are both good with responding emails, answering questions you may have, or always looking out what the best mortgage option is for you . Every file is unique and personal . I highly recommend this company to anyone whose dream is to buy a home . Thank you both !"
"Mike was a great asset as I went through the mortgage process a few months ago. He basically did everything for me to make sure I was prequalified. He even recommended a mortgage insurance company because I was in unfamiliar territory. He continues to monitor and update me on any potential changes in the market. I highly recommend Mike to oversee your mortgage loan process."
"I recently closed on my loan for our house in the Key's and I must say the transaction was as easy and smooth as can be from start to finish. Mike Collada our loan officer and Mike Schoonover Partner/owner (Mike N Mike) were in constant communication with myself and all parties involved with my purchase. Moreover, I even paid down debt for a better rate, which required a credit re-score and these guys got it done fast. This helped us close on time. So big thanks for making our home ownership dream come true."
"I'll highly recommend to family, friends, coworkers to everybody. Miami Mortgage Brokers offer impeccable services and really looked out for my best interest. Mortgage Mike guided me through the entire loan process and was always honest with me."
"I can definitely recommend Mike. We went from finding a property to closing in 30 days! Mike is a true professional who puts his clients first-even following up with us while on vacation. Great personalized service. Mike is a pleasure to work with."
"Mike was great and helped me with my loan when I was turned down by a prior bank who did not review my tax returns. Highly recommend Mortgage Mike for all your home loan needs."