While higher interest rates continue to make waves in the housing market, one thing remains consistent—potential homebuyers want choices in picking the right mortgage. They crave flexibility and low interest rates. Today’s homebuyer wants to choose the lender, mortgage type, and repayment schedule that suits their needs.
Mortgage Flexibility and Affordability
Choices like these occur when there’s healthy competition in the market, positively affecting consumers and lenders. VRM Lending LLC’s continued growth contributes to building a stronger competitive environment.
We’ve expanded our reach into new communities with various mortgage products that are innovative, affordable, and tailored to help people achieve their goal of homeownership.
Our suite of loan products include:
- Conventional loans
- Non-conforming loans
- VA loans
- The Vendee™ Loan
- FHA loans
A growing housing market benefits homeowners with more opportunities to qualify for a mortgage. It also helps them gain access to credit with more flexible lending criteria than traditional banks.
Our Vendee™ Loan is an excellent example of how we help people with varying backgrounds, credit scores, income levels, and down payment amounts to qualify for a mortgage. Please note that the lender for Vendee™ Loan is the Department of Veterans Affairs (VA). All Vendee™ Loans are processed and underwritten by the VA.
What is the Vendee™ Loan?
The Vendee™ Loan Program allows qualified borrowers to purchase properties owned by the U.S. Department of Veteran Affairs (VA). Prospective buyers may purchase eligible VA-owned properties nationwide. Search for Vendee™ Eligible Properties online at VRMProperties.com.
The loan may appeal to borrowers looking to cut costs and save thousands (compared to a standard mortgage) through a competitive rate. Other potential advantages include:
- Low down payments
- No mortgage insurance
- No lender title insurance policy
The Vendee™ Loan Program features:
- Little to no money down for owner-occupant borrowers and investors
- No mortgage insurance requirements
- Originations and funding fees may be rolled into the loan for qualified borrowers
- Competitive interest rates
- No pre-payment penalties
What Borrowers Can Expect in Today’s Housing Market
Prices for homes in 2024 are expected to remain steady. Whether you’re a potential borrower or a real estate professional helping clients get into their homes, it’s essential to keep up with the market. Competition is still tough, and high-interest rates remain a concern.
Set the right expectations for the home-buying process. Here’s what to consider:
- It’s still common for buyers to go over the listing price of a home.
- Don’t get too attached to the property you bid on, as the market is still very much a seller’s market.
- See if you can get preapproved or prequalified so the seller knows you’re serious.
We hope our expansion benefits the choices you can provide for your clients, and, together, ultimately get them into the right home.
Trademark Disclaimer: Vendee™, Seller Financing (Vendee™), VA Vendee™ and/or other United States Veteran Affairs loan products referenced herein are either trademarks, servicemarks or registered trademarks of The Secretary of Veterans Affairs. Use of the Vendee™ logo or program name is authorized only by the Secretary of Veterans Affairs or its authorized agents.
Affiliation Disclaimer: VRM Lending LLC is not affiliated with or acting on behalf of or at the direction of FHA, VA, or the Federal Government.