Good News Lending: Premier VA Home Loan Provider in Covington

• 100% Financing: Offering full financing for the value of your home, VA Loans make it possible to buy a home without a down payment, which is particularly beneficial for those who have served our country.
• Loan Entitlement: The amount you are eligible to borrow without a down payment is based on your service days and the character of your service. A Certificate of Eligibility (COE) is required to prove your entitlement.
  
• Private Lender Assistance: Although these loans are backed by the VA, they are provided by private lenders like Good News Lending, who are experienced in working with veterans and understanding their unique needs.
• Advanced Technology: Our cutting-edge technology streamlines the financing process, letting you focus on what you do best – building homes.

• VA Purchase Mortgages: Tailored for buying your primary residence, these loans offer the advantage of no down payment.
• Cash-Out Refinance Loans: Refinance your existing mortgage and get the difference in cash, which is useful for debt consolidation or home improvements.
  
• IRRRLs (Interest Rate Reduction Refinance Loans): Aimed at lowering your monthly payments by refinancing your existing VA loan at a lower interest rate.
• Native American Direct Loan (NADL): Specifically designed for eligible Native American veterans or their spouses to purchase homes on federal trust land.

• Fixed and Adjustable Rates: We offer a variety of rate types to suit your financial goals, whether you prefer the predictability of fixed rates or the potential savings of adjustable rates.
• Flexible Repayment Terms: Choose from 15-year or 30-year terms, allowing you to find a payment plan that fits your budget and long-term financial goals.
  
• Private Lender Assistance: Although these loans are backed by the VA, they are provided by private lenders like Good News Lending, who are experienced in working with veterans and understanding their unique needs.
• Advanced Technology: Our cutting-edge technology streamlines the financing process, letting you focus on what you do best – building homes.

VA Loan Limits and Property Requirements

• Loan Limits: While VA Loans do not have a maximum loan amount, there are limits on what can be borrowed without a down payment. These limits can vary based on location and housing market trends.
• Property Standards: To qualify for a VA Loan, the property must meet certain safety and sanitary standards. Good News Lending can help you understand these requirements to ensure your potential home is a sound investment.
  

Application Process and Required Documents

• Simplified Application: Our streamlined application process makes it easier to get pre-approved. We guide you through each step, ensuring a smooth and hassle-free experience.
• Required Documentation: Critical documents include your Certificate of Eligibility (COE), proof of service, and income documentation. Our team will assist you in gathering and submitting all necessary paperwork.
  

• Funding Fee: The fee varies based on the type of loan, down payment amount, and any previous uses and can often be rolled into the loan amount.
• Closing Costs: These are the fees associated with finalizing your VA loan. We will help you understand these costs and how they impact your loan.
  

PMI and Home Equity

• No PMI: VA Loans do not require PMI, which can lead to significant monthly savings.
• Home Equity Use: Utilize your home equity for various purposes, such as home improvements or consolidating debt.
  

VA Loans vs. Conventional Loans

• No Down Payment vs. Required Down Payment: VA Loans often require no down payment, whereas conventional loans typically require a minimum down payment of 5%.
• Lower Interest Rates: VA Loans generally offer lower interest rates than conventional loans, translating to lower monthly payments and long-term cost savings.