VA  Loans New York

The VA determines eligibility and issues a certificate to qualifying applicants to submit to their mortgage lender of choice. 

I’m Nikitas Kouimanis and I am your Manhattan, Brooklyn, and Long Island VA Loan specialist. I’ve worked with many Veterans who have served our country, and helped them take advantage of the great VA Loan programs. If you are currently serving and living in Manhattan, Brooklyn, and Long Island there is no better loan program available. Even if you don’t currently serve, it doesn’t mean you can’t qualify for the advantages of the VA Loan program. Very few Veterans know and take advantage of the benefits of a VA Loan.  Let me show you how.

People who would qualify for a VA Loan are: a Veteran of a war, active duty personnel, reservists/National Guard members, and some surviving spouses. You can find more details on exactly what it takes to qualify on my VA Loan Eligibility Rules page. You can use a VA loan for either purchase or a refinance. The major advantage is that these loans are a lot easier and simpler to qualify for than conventional loans.

If you are looking to purchase a home the biggest advantage of a VA loan is that you can purchase a home with NO money down. There is almost no other loan available that lets you purchase a home without making a down payment. There are less stringent underwriting requirements than a conventional loan program. In fact studies have shown that around 80% of people who qualified for a VA loan, would not been able to qualify for a conventional loan. VA loans also don’t have to pay any mortgage insurance on their monthly payments. The only real requirements would be to meet the service requirements and that the property will be occupied by the person who qualifies.

You can purchase pretty much any type of property, single family homes, condos, farms and even lots. The loan limit for a home in Manhattan, Brooklyn and Long Island is $625,500. With that high of a limit there are still many homes throughout those communities that would qualify. To see if you qualify for a VA Loan to purchase a home, apply now to find out.

Just like purchasing a home, a VA loan refinance is very easy to qualify for, with very little documentation or paperwork. VA refinance loans also cost a lot less than conventional loans. The only payment that is required is a VA funding fee. There are basically two different types of VA refinance programs. VA Loans for Home Equity Refinancing and VA Streamline Refinance.
VA Loans for Home Equity Refinancing, what some people call a “Cash Out” refinance, is a loan for you to be able to pull out cash from your home. This way you can use the extra cash to pay off any debts you may have, purchase cars, boats, etc., or re-invest the money in your home to bring up its value. A VA refinance is basically repaying the balance of your current mortgage from the proceeds of your new VA mortgage. The difference would be the cash in the “cash out”.

A VA Streamline Refinance is very much like its name, it basically streamlines the refinance process. There are little to no out of pocket costs, where I can roll any closing costs into the loan. Also there is very little documentation required:  you don’t need an appraisal, any income or employment verifications, and there are no credit reports. The only requirement is that the property you are refinancing has to be purchased with a previous VA loan. A VA Streamline Refinance was designed to help you easily lower your monthly payments by refinancing to a lower rate.