[vc_row type="in_container" full_screen_row_position="middle" scene_position="center" text_color="dark" text_align="left" overlay_strength="0.3" enable_shape_divider="true" shape_divider_color="#0f3a66" shape_divider_position="bottom" enable_animation="" animation="none" boxed="" background_image="" enable_bg_scale="" column_padding="no-extra-padding" column_padding_position="all" centered_text="true" background_color="" background_color_opacity="1" background_color_hover="" background_hover_color_opacity="1" font_color="" column_shadow="none" column_border_radius="none" top_margin="" bottom_margin="" el_class="" column_border_width="none" column_border_color="" column_border_style="solid" enable_border_animation="" delay="" column_link="" border_animation_delay="" shape_type="mountains"][vc_column column_padding="no-extra-padding" column_padding_position="all" background_color_opacity="1" background_hover_color_opacity="1" column_shadow="none" column_border_radius="none" width="1/1" tablet_text_alignment="default" phone_text_alignment="default" column_border_width="none" column_border_style="solid"][vc_column_inner column_padding="no-extra-padding" column_padding_position="all" centered_text="true" background_color_opacity="1" background_hover_color_opacity="1" column_shadow="none" column_border_radius="none" width="1/1" column_border_width="none" column_border_color="#872aba" column_border_style="solid"][/vc_column_inner][/vc_column][/vc_row][vc_row type="full_width_content" full_screen_row_position="middle" equal_height="yes" vertically_center_columns="true" bg_color="#f7f7f7" scene_position="center" text_color="dark" text_align="left" top_padding="0" bottom_padding="0" overlay_strength="0.3" shape_divider_position="bottom" shape_type="curve"][vc_column centered_text="true" column_padding="padding-2-percent" column_padding_position="all" background_color="#0f3a66" background_color_opacity="1" background_hover_color_opacity="1" column_shadow="none" column_border_radius="none" width="1/4" tablet_text_alignment="default" phone_text_alignment="default" column_border_width="none" column_border_color="#3c5b7a" column_border_style="solid"][image_with_animation image_url="15167" alignment="" animation="Fade In" border_radius="none" box_shadow="none" max_width="100%"][vc_row_inner column_margin="none" text_align="left"][vc_column_inner column_padding="padding-3-percent" column_padding_position="all" background_color_opacity="1" background_hover_color_opacity="1" column_shadow="none" column_border_radius="none" width="1/1" column_border_width="none" column_border_style="solid"][divider line_type="No Line" custom_height="20"][divider line_type="No Line" custom_height="20"][image_with_animation image_url="14553" alignment="center" animation="None" border_radius="none" box_shadow="none" max_width="100%"][divider line_type="No Line" custom_height="20"][divider line_type="No Line" custom_height="20"][vc_custom_heading text="Mike Fischer
Senior Loan Officer; NMLS #178773" font_container="tag:h2|font_size:14|text_align:center|color:%23ffffff|line_height:28px" use_theme_fonts="yes"][vc_column_text]Direct Line: 605-721-7956
Cell: 605-391-8134
Email: mikef@affiliatedsd.com
mikefmortgage.com/mortgage-101[/vc_column_text][divider line_type="No Line" custom_height="20"][divider line_type="No Line" custom_height="20"][image_with_animation image_url="16934" alignment="center" animation="Fade In" border_radius="none" box_shadow="none" max_width="100%"][divider line_type="No Line" custom_height="20"][divider line_type="No Line" custom_height="20"][vc_custom_heading text="Calculate Your Mortgage" font_container="tag:h2|font_size:15|text_align:center|color:%23ffffff|line_height:50px" use_theme_fonts="yes" link="url:https%3A%2F%2Faffiliatedsd.com%2Fmortgage-calculator%2F|||"][nectar_btn size="medium" button_style="see-through-2" color_override="#ffffff" hover_text_color_override="#000000" icon_family="none" url="https://ift.tt/2OKgw9x" text="Calculate Now"][divider line_type="No Line"][divider line_type="No Line"][vc_custom_heading text="We Love Realtors & Referrals" font_container="tag:h2|font_size:15|text_align:center|color:%23ffffff|line_height:50px" google_fonts="font_family:ABeeZee%3Aregular%2Citalic|font_style:400%20regular%3A400%3Anormal" link="url:http%3A%2F%2Faffiliatedsd.com%2Frealtors|||"][nectar_btn size="medium" button_style="see-through-2" color_override="#ffffff" hover_text_color_override="#ffffff" icon_family="none" url="https://ift.tt/2CeXJNP" text="Partner With Us"][divider line_type="No Line"][divider line_type="No Line"][image_with_animation image_url="13775" alignment="center" animation="Fade In" border_radius="none" box_shadow="none" max_width="100%"][/vc_column_inner][/vc_row_inner][/vc_column][vc_column column_padding="padding-3-percent" column_padding_position="all" background_color_opacity="1" background_hover_color_opacity="1" column_shadow="none" column_border_radius="3px" top_margin="3" bottom_margin="3" width="3/4" tablet_text_alignment="default" phone_text_alignment="default" column_border_width="none"][vc_custom_heading text="5 Things You Need To Know About VA Loans" font_container="tag:h2|font_size:36|text_align:left|color:%23333666|line_height:50px" use_theme_fonts="yes" css_animation="none" css=".vc_custom_1545345533361{margin-top: 20px !important;padding-top: 3px !important;padding-right: 3px !important;padding-bottom: 3px !important;padding-left: 3px !important;}"][divider line_type="No Line" custom_height="20"][divider line_type="No Line" custom_height="20"][text-with-icon icon_type="font_icon" icon="icon-home" color="Extra-Color-3"]
VA Myth Busting! Don't Believe The VA Myths!
[/text-with-icon][divider line_type="No Line" custom_height="20"][vc_column_text]There are a lot of myths surrounding VA Loans. Here are a few that we run into quite often.
- Zero Down = Weak Buyer
- VA Loans are harder to get through underwriting.
- VA appraisals are tougher.
- VA Loans take longer to close.
- The seller has to pay for the veteran's fees.
- You can only have one VA Loan.
NONE OF THE ABOVE ARE TRUE![/vc_column_text][divider line_type="No Line" custom_height="20"][divider line_type="No Line" custom_height="20"][text-with-icon icon_type="font_icon" icon="icon-question-sign" color="Extra-Color-3"]Why Should A Seller Accept a VA Offer?
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- Zero Down doesn’t mean inferior buyer – it’s a veteran after all!
- Underwriting is easier and has little to no lender overlays.
- "VA Appraisals" have 2 additional options when value is not reached by the appraiser – Conventional and FHA do not.
- All things being equal, a VA loan closes in the same amount of time as other financing types.
- The seller is allowed to pay closing costs (up to 4% of the home price), but is not required to do so.
- Holding a second VA loan isn't common, but it is possible when certain conditions are met.
There are additional perks to VA Loans that aren't found with conventional loans. They include:
- "VA Loans" are more valuable to lenders for portfolio performance, come with guaranteed protection, as well as improve public image.
- One of the greatest ways to honor a veteran and say, “Thank You For Your Service” is for a seller to participate in their home ownership dream; "They will be the best neighbors your neighborhood will ever have."
[/vc_column_text][divider line_type="No Line" custom_height="20"][divider line_type="No Line" custom_height="20"][text-with-icon icon_type="font_icon" icon="icon-user" color="Extra-Color-3"]
I'm Dedicated to Serve Our VA Men and Women
[/text-with-icon][divider line_type="No Line" custom_height="20"][vc_column_text]I was born and raised in South Dakota. I love living here and can’t imagine myself anywhere else. I currently reside in Rapid City and grew up in Fort Pierre. I graduated from Stanley County High School in 1988 and earned Bachelor’s Degree in Business from National American University in Rapid City.
I have three awesome kids that keep me motivated and very busy when not working, Chelsea, Dawson and Jamison. In my spare time I enjoy the outdoors, something we here in South Dakota value highly.
You’ll often find me swinging away on the golf course, fishing in our many lakes and rivers or out in the fields hunting pheasants and deer.
I have over 20 years lending experience and have assisted thousands of people achieve their financial dreams. There is no loan scenario that I have not come across at one time or another. Unlike other lenders, when I meet a new customer I look for ways to get the deal done rather than looking for ways to NOT get it done. In October 2012 I received my certification as a Certified Military Housing Specialist from USA Cares, an organization dedicated to assisting military families. The military is a vital part of our local economy and I am proud to be a partner with USA Cares. My support staff and the company I work for are the best…bar none!!
It is my goal to make your home ownership dreams come true and make the process as quick and hassle free as possible.[/vc_column_text][vc_row_inner column_margin="default" text_align="left"][vc_column_inner column_padding="no-extra-padding" column_padding_position="all" background_color_opacity="1" background_hover_color_opacity="1" column_shadow="none" column_border_radius="none" width="1/1" column_border_width="none" column_border_style="solid"][divider line_type="No Line" custom_height="20"][divider line_type="No Line" custom_height="20"][nectar_btn size="large" button_style="see-through-2" color_override="#0f3a66" hover_color_override="#ffffff" hover_text_color_override="#000000" icon_family="none" url="https://ift.tt/2PYaZZd" text="Get Started Today!"][vc_custom_heading text="The Mortgage Club: Real Estate Investing" font_container="tag:h2|font_size:25|text_align:left|line_height:50px"][vc_column_text]Did you know that Affiliated Mortgage is starting a monthly informational club? It's free to attend (registration is required though).
On November 29th, Real Estate and Mortgage experts and the Rapid City Area community will gather to present how to use real estate investing to augment one’s wealth. No matter if you’re a real estate maven or if you're just curious, all parties interested will leave the meet up having learned something valuable about real estate investment.
Seats are filling up! Claim yours today.[/vc_column_text][divider line_type="No Line"][divider line_type="No Line"][nectar_btn size="large" button_style="see-through-2" color_override="#0f3a66" hover_color_override="#ffffff" hover_text_color_override="#000000" icon_family="none" url="https://ift.tt/2DaaA2I" text="Mortgage Club Details and Registration"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type="in_container" full_screen_row_position="middle" scene_position="center" text_color="dark" text_align="left" overlay_strength="0.3" shape_divider_position="bottom" shape_type=""][vc_column column_padding="no-extra-padding" column_padding_position="all" background_color_opacity="1" background_hover_color_opacity="1" column_shadow="none" column_border_radius="none" width="1/1" tablet_text_alignment="default" phone_text_alignment="default" column_border_width="none" column_border_style="solid"][divider line_type="No Line"][/vc_column][/vc_row][vc_row type="in_container" full_screen_row_position="middle" scene_position="center" text_color="dark" text_align="left" overlay_strength="0.3" shape_divider_position="bottom"][vc_column column_padding="no-extra-padding" column_padding_position="all" background_color_opacity="1" background_hover_color_opacity="1" column_shadow="none" column_border_radius="none" width="1/1" tablet_text_alignment="default" phone_text_alignment="default" column_border_width="none" column_border_style="solid"][vc_column_text]
© 2018 Affiliated Mortgage; NMLS # 14211 a division of Lend Smart Mortgage, LLC. NMLS #4474
Affiliated Mortgage or their affiliates are not liable for the data and statistics provided herein and the information is subject to change at anytime.
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[/vc_column_text][/vc_column][/vc_row][vc_row type="in_container" full_screen_row_position="middle" scene_position="center" text_color="dark" text_align="left" overlay_strength="0.3" shape_divider_position="bottom"][vc_column column_padding="no-extra-padding" column_padding_position="all" background_color_opacity="1" background_hover_color_opacity="1" column_shadow="none" column_border_radius="none" width="1/1" tablet_text_alignment="default" phone_text_alignment="default" column_border_width="none" column_border_style="solid"][vc_column_text]
[/vc_column_text][/vc_column][/vc_row][vc_row type="full_width_background" full_screen_row_position="middle" scene_position="center" text_color="dark" text_align="left" top_padding="7%" bottom_padding="7%" overlay_strength="0.3" shape_divider_position="bottom"][vc_column column_padding="padding-2-percent" column_padding_position="all" background_color_opacity="1" background_hover_color_opacity="1" column_shadow="none" column_border_radius="none" width="1/3" tablet_text_alignment="default" phone_text_alignment="default" column_border_width="none" column_border_style="solid"][nectar_animated_title heading_tag="h6" style="color-strip-reveal" color="Accent-Color" text="Things You Need To Know About VA Loans"][vc_column_text css_animation="fadeInUp" css=".vc_custom_1545326276537{padding-top: 10px !important;padding-right: 10px !important;padding-bottom: 10px !important;padding-left: 10px !important;background-color: #002968 !important;}"]Protecting our country and serving in the US Armed Forces is the most selfless act an American can perform. No matter the branch in which you’ve served or are currently serving, each and every person that makes a commitment to protect our great nation is a hero. To recognize and honor those that have served, the federal government has granted banks and mortgage companies the opportunity to pay back a small fraction of the debt they owe to servicemen and women by providing VA loans.
VA loans are exclusive home mortgage loans offered by lenders to service members, veterans, and eligible surviving spouses. This type of loan offers certain benefits that FHA, conventional, USDA, and other types of home mortgage loans simply don’t offer. In order to take full advantage of this life-changing loan that was designed with you in mind, there are a few things that you need to know.[/vc_column_text][/vc_column][vc_column column_padding="no-extra-padding" column_padding_position="all" background_color_opacity="1" background_hover_color_opacity="1" column_shadow="none" column_border_radius="none" width="2/3" tablet_text_alignment="default" phone_text_alignment="default" column_border_width="none" column_border_style="solid"][toggles style="minimal" accordion="true"][toggle color="Default" title=" VA Loans Are Packed With Benefits"][vc_column_text css_animation="fadeInLeft"]Hands down, a VA loan is the best type home mortgage in the market. The benefits are numerous but the most salient perk is that no down payment is required for a VA borrower. Compare this with the 5% and 3.5% rates that conventional and FHA loans ask require.
Mortgage insurance adds to the already heft monthly payments that FHA and conventional loans ask of borrowers. Luckily for you, no private mortgage insurance is required for VA borrowers. There is however a mandatory funding fee attached to VA loans, however this is much more cost-friendly than paying for private mortgage insurance.
Civilians with poor credit often find themselves on the outside looking in or paying loan premiums. Those that have served however typically need only a 620 credit score to secure a loan. This score is far lower than those needed to receive a conventional or FHA loan.[/vc_column_text][/toggle][toggle color="Default" title="VA Loans Are Exclusive"][vc_column_text css_animation="fadeInLeft"]Having access to a VA loan is a privilege that you’ve earned. Not just anyone is eligible for a VA home mortgage loan. While the loan is open to veterans, active duty service members, reservists, National Guard members, and spouses of those that have served, there are still certain requirements that must be met in order to become eligible. Those looking to take advantage of VA loans benefits must meet at least one of the following requirements.[/vc_column_text][text-with-icon icon_type="font_icon" icon="icon-caret-right" color="Accent-Color"]You have served 90 consecutive days of active service during wartime.[/text-with-icon][text-with-icon icon_type="font_icon" icon="icon-caret-right" color="Accent-Color"]You have served 181 days of active service during peacetime.[/text-with-icon][text-with-icon icon_type="font_icon" icon="icon-caret-right" color="Accent-Color"]You have more than 6 years of service in the National Guard or Reserves.[/text-with-icon][text-with-icon icon_type="font_icon" icon="icon-caret-right" color="Accent-Color"]You are the spouse of a service member who has died in the line of duty or as a result of a service-related disability.[/text-with-icon][/toggle][toggle color="Default" title="VA Loans Can Be Used More Than Once"][vc_column_text css_animation="fadeInLeft"]There seems to be a rumor running wild within the VA community that a VA loan can only be used once. This is false. The origin of this falsehood comes from the rule that no single person eligible for a VA loan can utilize two at once. Once the initial loan is paid off you remain eligible to take full advantage of the program again. There are minor differences between the terms of the first and second VA loan, but by and large you will still receive all the same benefits.[/vc_column_text][/toggle][toggle color="Default" title="VA Loans Can Be Used To Purchase Only Certain Types of Homes"][vc_column_text css_animation="fadeInLeft"]Townhomes, condos, mobile, and manufactured homes can all be purchased with a VA loan. Houseboats, properties abroad, or second homes however cannot be bought with the assistance of a VA mortgage loan. Loans granted by the U.S. Department of Veteran Affairs can only be used to buy a property that will be used as a permanent residence. An active duty service member does however have the ability to rent our their home if they get transferred overseas. Once a home is purchased, homeowners generally need to occupy that home before 60 days after purchase. There are exceptions to this rule however. Retiring service members may be able to negotiate a move-in date, property repairs may warrant a later occupancy date, or intermittent deployment may also be an exception to this rule. If a service member is away on duty, a spouse may satisfy the occupancy requirements.[/vc_column_text][/toggle][toggle color="Default" title="VA Loans Allow You To Refinance"][vc_column_text css_animation="fadeInLeft"]Not only can these loans be used to purchase a home but also to refinance one. Those who qualify have the option of utilizing a cash-out refinance home loan or an interest rate reduction refinance loan (IRRRL). The former is often used to refinance a non-VA loan into a VA loan. Those that have served also use it to pay off debt, school, or make home improvements. Affiliated Mortgage is one of the few lenders that allows homeowners to refinance up to 100% of their home’s value to pay off home mortgages.
The latter loan enables homeowners to reduce monthly mortgage payments or stabilize monthly payments by shifting to a fixed rate loan. If you choose an IRRRL you’ll be able to reduce monthly interest payments without providing an abundance of documents. Neither credit checks nor appraisals are needed to secure this type of loan thus streamlining the process.
At Affiliated Mortgage, the topic of VA loans is a personal one. Many of our loan officers are veterans, spouses, or active members. We have a “take care of our own” mentality when serving the military family. Learn about who we are and how we can help you by coming to our monthly Mortgage Club event on the ‘Day” of “Month” to learn more about how you can get the most out of a VA loan.[/vc_column_text][/toggle][/toggles][/vc_column][/vc_row]
Source Here: 5 Things You Need To Know About VA Loans
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