Booyah Mortgage VA loan Process in Florida and South Carolina

Our VA Loan Process & Approach

At Booyah Mortgage, we treat each Borrower/Veteran as an individual, not a number.

We are a Veteran operated Branch. We don’t place you into a loan profile formula created by the banking industry. We use “common sense” and will help you obtain the best loan possible.  As a Direct Lender, this allows us to get you competitive rates on all Mortgages and VA Mortgage programs.

What sets up apart

No Money Down Up to $424,100

With up to 100% financing available, you do not have to put any money down to qualify for a VA Home Mortgage Loan for up to $424,100. If the seller agrees to pay the closing costs, you may be able to purchase the home with no out of pocket costs. The loan and sales contract can be set up so that the VA Home Mortgage Loan can cover up to 100% of the selling price and the seller covers the closing cost.

Assumable VA Mortgage Loans

VA loans are also assumable. If the person assuming the mortgage is a veteran with VA eligibility, the original veteran will not be giving up the amount of eligibility that they used to get the loan at the beginning. Veterans should use great care and closely investigate the terms of an assumption before allowing someone to assume their mortgage. It is too great a benefit to give up.

The VA Funding Fee

The Veterans Administration assesses a Funding Fee to all VA loans between .5% and 3%.  In an FHA mortgage the customer must put down at least 3.5% of the loan amount. The fee is added into the amount of the loan to be paid over the life of your VA home mortgage loan. The VA Funding Fee replaces the much higher priced Mortgage Insurance required when you get a conventional home loan. If you are a Disabled Veteran, you may qualify to get the fee waived completely.

VA Mortgage Loans may be Refinanced

VA mortgage loans have built in features allowing a loan to be refinanced to a lower interest rate without all of the criteria normally associated with a conventional loan. This is called an Interest Rate Reduction Loan; the veteran can secure a lower interest rate without any credit checks, appraisal, and income or asset verification and can roll the costs of the transaction into the loan so there are no out of pocket costs.

Our VA Loan Process

Booyah Mortgage VA refi in Florida

Pre-approval occurs before the loan process actually begins. The lender gathers information about your income and debts, and makes a financial determination about how much house you may be able to afford.

It’s a good idea to know how expensive a home you can afford before you start shopping for one! If you are refinancing the loan on your existing home, then the pre-approval process should help you decide whether refinancing is a good idea for you.

Booyah Mortgage VA loans in Florida and South Carolina

The application is the beginning of the loan process and either occurs after you have found a property you want to buy or have determined that you wish to refinance the loan on your existing home. You complete a mortgage application for a particular loan program and, supply all of the required documentation for processing. Various fees and down payment options are discussed at this time. The loan officer will deliver a Loan Disclosure (LD) within three days that itemize the rates and estimated costs for obtaining the loan.

Booyah Mortgage VA loan Process in Florida and South Carolina

The lender will typically submit the application package to an automated underwriting system that will provide the lender with the necessary documentation needed for loan approval. In some cases, the lender may also manually underwrite an application package.

The lender’s processor reviews the credit reports and documentation to verify your employment, debts, and payment histories. If there are unacceptable late payments, collections, judgments, etc., the processor requests a written explanation from you. The processor also reviews the appraisal and survey and checks for property issues that may affect final loan approval. The processor’s job is to put together an entire application package for the lender’s underwriter.

Booyah Mortgage VA Refinance in Florida

The lender’s underwriter is responsible for determining whether the application package prepared by the processor meets all the lender’s criteria. If more information is needed, the loan is put into “suspense” and you will be contacted to supply more documentation.

If the underwriter approves the loan, the lender issues a conditional commitment to lend, orders title insurance, works with you to clear all conditions to its commitment to lend, and then schedules a closing time. Conditions to the lender’s commitment may include issues with credit, income, or the property that may arise during the processing and underwriting process.

Booyah Mortgage VA Streamline Refinance IRRL in Florida

The closing will occur after all conditions are cleared and the lender issues a full loan approval. At the closing, the lender “funds” the loan with a cashier’s check, draft or wire to the closing agent, who disburses funds, in exchange for the title transfer to the property. This is the point at which you finish the loan process and actually refinance or buy the house, subject to the lender’s loan. Closings occur at different places in different states. For instance, some states require that the closing take place at a closing attorney’s office, while others use a title or escrow company. You may also be able to close at your home.

Contact Us

Have a question?
Email Us
Talk to us…
(844) 726-6924
Booyah Mortgage VA loan home buying tips

Get Our Free PDF

Ready to purchase your new home? Download our free Home Buying Tips and learn how to get the best possible deal.


Booyah Mortgage servicing Veterans across Lake Mary, Orlando, Jacksonville, Pensacola & the Gulf Coast

Questions about VA home loans and the right mortgage for you and your family?
Give us a call (844) 726-6924

Booyah Mortgage VA lender Lake Mary FL

Are you ready to start with us?

Booyah VA Mortgage Florida service areas include: Brevard, Clear Water, Duval, Jacksonville, Fort Walton Beach, Key West, Lake Mary, Lynn Haven, Mary Esther, Miami, Miami Beach, Milton, Orlando, Panama City, Panama City Beach, Pensacola, Starke, Tallahassee, Tampa, Valparaiso, West Palm Beach, and surrounding areas.

Booyah VA Mortgage South Carolina service areas include: Beaufort, Columbia, Goose Creek, North Charleston, Port Royal, Sumter, and surrounding areas.