Francisco Williams, CCIM
Glossary

Loan Programs

VA Loan

A mortgage guaranteed by the Department of Veterans Affairs, available to eligible servicemembers, veterans, and surviving spouses — 0% down, no PMI.

The single best mortgage program in the US. Full-entitlement veterans face no loan limit (eliminated in 2020) — routinely fund $1.5M+ VA purchases in Southern California with zero down.

Eligibility based on length and character of service. Certificate of Eligibility (COE) is the controlling document — takes 5 minutes to pull via VA's automated system.

VA funding fee (2.15% first-use zero-down) replaces monthly MI — waived entirely for veterans with VA-rated service-connected disability. IRRRL streamline refis close in 2–3 weeks with no appraisal and no income documentation.

Rates shown are illustrative and subject to change without notice. Actual rate, APR, and terms will depend on creditworthiness, loan-to-value, property type, occupancy, loan amount, loan program, and other factors. Not all applicants will qualify.

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