VA Loan Programs

A mortgage loan program that serves those who have served our country.

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Military service members and Veterans have unique mortgage needs. A VA loan is a mortgage loan guaranteed by the U.S. Department of Veterans Affairs (VA) and is available to most U.S. service members. Already have a VA loan? Contact our team – you may be eligible for a VA Streamline Refinance. Benchmark Mortgage Companies, an affiliate of Tidewater Home Funding, LLC., has approved delegated underwriting authority with VA.

 

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Loan Program Benefits

Our team is committed to supporting our military community by helping you obtain your dream of homeownership. Some benefits a VA mortgage loan program offers includes:

 

 

Loan Program Eligibility

As a rule of thumb, almost all Active Duty or honorably discharged service members are eligible for a VA mortgage loan. You may be eligible for a VA loan if any one of these statements describe you:

 

-I served 181 days during peacetime and am Active Duty

-I served 90 days during wartime and am Active Duty

-I served 6 years in the Reserves or National Guard

-I am the spouse of a service member who was killed in the line of duty

-I currently receive disability payments from the VA

 

What is a VA Funding Fee?

Required by the Department of Veteran's Affairs (VA), a VA Funding Fee is a fee paid directly to the VA so they can guarantee your mortgage loan and provide you with the opportunity to receive a loan at little to no money out of pocket.

 

How Much is the VA Funding Fee? The amount varies on several factors including if you are Active Duty, Retired, Guard or Reserve, and whether this is your first-time use, subsequent use, or a cash-out refinance as well as how much your down payment is. The fee can range from 1.250% - 3.300% of the loan. Typically, the greater your down payment, the lower the VA Funding Fee is. Please contact our team so we may help you determine the exact cost of the fee in your unique scenario.

Do I Have to Pay the VA Funding Fee? You do not have to pay the fee out of pocket. You can include the VA Funding Fee within your loan amount and pay the fee over the term of your loan.

Do I Still Have to Pay Other Normal Closing Costs? While you still need to pay for typical closing costs such as the appraisal, title, and escrows, with a VA loan, if you are purchasing a new home the seller can pay for all or part of your closing costs.

What is a VA Streamline Refinance? If you already have a VA mortgage and want to lower your interest rate with little to no out of pocket closing costs, a VA Streamline refinance option is available. You do not need to provide bank statements, W2s, job verifications, or paychecks.

 

This is not a commitment to lend. All loans subject to program guidelines including credit and property approval. If refinancing an existing loan, the total finance charges may be higher over the life of the loan. These materials are not from HUD, VA, or FHA and were not approved by HUD or any other government agency.

Your Experience is Our Priority

Your local lending partner, our team strives to exceed your expectations before, during and after the mortgage process.

Thomas was exceptional to work with......always friendly and easy going but always with pertinent answers....we ended up pulling a contract on one house and then finding another and he handled that transition with integrity and kindness.....we would highly recomment his services.....thank you so much....carol ann and michael

Carol Ann Walter

Steven and Benchmark Mortgage was great and a thrill to work with and wouldn't rank anyone above them.

Jonathan R.

Thomas St. John was a pleasure to work with... He understood my needs and timing and worked hard to make sure I had everything
needed so that we could go to closing much faster than I could have imagined. His follow through with details before, during, and after
the process made it a better experience. Should I ever need another loan for refinance or purchase, I will stop and shop Benchmark
first... Thanks!!!

Brian K.

Nothing! Steven was extremely knowledgeable and helpful. He was ALWAYS accessible, professional, and understanding. He will be
my first and only recommendation to Family, Friends, and Colleagues!

Barry N.

Thomas St. John is amazing! He explained everything so well and was able to work with my hectic work schedule to
get everything finished. He is very personable and makes you feel like you're more than just a customer. He even
attended my closing.

J. Tharp

Benchmark was a fantastic company to deal with. They were always there whenever I had questions and even took
the time to meet with us when we were so confused. They are professional and very knowledgeable. They never
made me feel like I had a stupid question. They are very reliable and are great at explaining things and processes.

Elizabeth W.

I was very pleased working with Steven D'Antonio and the Benchmark Mortgage team. They offered a high level of
customer service and were very communicative throughout the process. They have this done to an art and are able
to troubleshoot and provide insight on what to expect during the home buying process. I would recommend them to
anyone!

Jonathan R.

Ready to Fund Your Dreams?

Reach out to our team of local mortgage specialists and take the initial step towards homeownership. Our team is ready to assist you throughout the process, offering you the necessary information and guidance to help you make informed decisions for your unique needs. Don't delay any longer - apply today to begin.

 

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