VA Home Loans in Stillman Valley Illinois
For eligible veterans and active duty military personnel a Stillman Valley VA mortgage loan can be a wonderful benefit to take advantage of. The Department of Veterans Affairs guarantees these loans, which can finance as much as 100% of the value of the property, ensuring low rates and easier qualification guidelines when compared to conventional loans.
Stillman Valley VA Benefits
In addition to the excellent VA mortgage rates, and no money down option there are a number of advantages to obtaining a Stillman Valley VA home loan, such as:
- Buy a Stillman Valley Home with No Down Payment
- Refinance up to 120% of your Home’s Value
- Use your VA Benefits even if you used them in the past
- Ask us how we can pay for your pest inspection
- No mortgage insurance premiums
Get Pre-Approved for a Stillman Valley VA Home Loan
Stillman Valley VA One Time Construction to Close
Building a Stillman Valley home might be complicated, but financing it doesn’t have to be. This is where our One-Time Close Construction to Permanent Loan comes in. Financing the land and construction in two phases seems a little cumbersome to us. Rather than one closing prior to breaking ground, and then a second closing prior to move in day, this program has just one closing. In one settlement the financing for the construction, lot purchase (if not already owned), and permanent loan are all arranged.
Benefits of a Stillman Valley One Time Close Construction to Permanent Loan.
One appraisal, one set of closing costs, one underwriting and approval process…Eliminating the redundancy of a second closing reduces all of these costs, potentially saving the borrowers time and money when it counts.
Because the interest rate is locked in prior to the single closing and before the start of building, it eliminates the concern that rates could rise during construction. Any increase in rates could make the home less affordable or even jeopardize loan approval if ratios are tight.
Once the loan is finalized, the payments don’t start until the home is complete. This is a huge selling point for many buyers who need to pay for another place to live until they can move into the new property.
Once the closing is complete and the loan is in place, borrowers don’t have to worry about re-qualifying. With many traditional construction to permanent loans, the buyers will have to re-qualify at the end of the construction phase. Now the buyers can enjoy preparing for life in the new home without concern that purchasing new furniture or other items could impact their loan approval.
Stillman Valley VA Mortgage Hotline 888-882-1058
VA Renovation Hotline 888-882-1058
Stillman Valley VA Renovation Loan
The VA Renovation Loan brings together some of the most innovative and attractive features of several popular mortgage programs. It provides no money down financing that covers not only the current value of the property, but the cost of remodeling and repairs as well. This program is intended for minor updates and work done on the home at a cost under $50,000, with no minimum renovation cost requirement. Because the Veteran Administration requires that a property meet minimum property standards in order to qualify for Stillman Valley VA financing, it is not uncommon for deals to fall through during the inspection phase. The seller may not want to pay for all the repairs needed to ensure the home meets the VA’s high standards. With a Stillman Valley VA Renovation Loan the buyers may be able to move forward with the purchase of a home they love, while borrowing the additional funds needed to fix the issues with the property, still with zero down payment.
Stillman Valley is a village in Marion Township, Ogle County, Illinois, United States. It lies east of Byron, south of Rockford and west of Davis Junction. The population was 1,120 at the 2010 census, up from 1,048 in 2000. The village is located on the Iowa, Chicago and Eastern Railroad, on the old Chicago Great Western Railway before it merged and was pulled up. Also, Illinois Route 72 runs through the village. It is near the site of the first battle of the Black Hawk War of 1832. The war memorial for the Battle of Stillman’s Run is located in this village.
According to the 2010 census, Stillman Valley has a total area of 0.54 square miles (1.40 km2), all land.[3]