AmeriValue VA Loans Review

#9 in VA Loans

AmeriValue is an online resource for news and information about the latest in mortgage and loans. It is not a mortgage broker or lender but rather an online marketplace for mortgage loans. AmeriValue matches borrowers to its network of lenders giving them the opportunity to compare rates without requiring any login details. The company is accredited A+ by the BBB and is an Equal Housing Opportunity Lender.

Services and Features

AmeriValue gives borrowers the opportunity to connect with mortgage lenders across the country. With a single application, borrowers are able to view different lenders and get multiple quotes from local lenders. AmeriValue lets consumers fill-in a simple form that is used to match them with VA loan lenders. With this, borrowers are able to compare multiple quotes and select loans with the best terms.

More detailed information is requested to proceed for a more detailed search of matching lenders. This includes the type of loan and whether it’s for refinancing or purchasing a new home. A property description (townhouse, condominium, single-family or multi-family) is also required. A borrower’s credit score, zip code, estimated home value, first mortgage balance, primary mortgage interest, loan type, second mortgage if there’s any, and if foreclosure or bankruptcy has occurred in the past 3 years will also be asked. Applicant’s income verification, late payments, and current address is also needed to proceed with the loan application.  

Types of Home

Multi-Family

Single-Family

Townhouse

Condominium

Mortgage Options Offered

VA Loans

Fixed Rate Mortgage

Adjustable Rate Mortgage

FHA Loans

Jumbo Loans

HARP Loans

Mortgage Related Fees

Appraisal Fee

Depends on selected loan provider

Origination Fee

Depends on selected loan provider

Credit Report

Depends on selected loan provider

Closing Fee

Depends on selected loan provider

Private Mortgage Insurance

Depends on selected loan provider

Inspection Fee

Depends on selected loan provider

Qualification

  • Verification of employment over the last two years
  • Proof of sufficient income to cover repayment of the mortgage
  • Lists of all accounts and the specific balances or monthly amounts due
  • Certificate of Eligibility which confirms your military service
  • Must meet specific service requirements (90 days during wartime, 6 years in the Reserves or National Guard, 181 days during peacetime, or if you’re a living spouse of a service member who was killed in the line of duty)
  • Must complete VA Form 26-1880 to obtain COE
  • Must either be currently serving in the U.S. military or n honourably discharged veteran

*Qualifications stated are based on Quicken Loans VA Loans

Rates

Loan Term

Rate

APR

15-Year Fixed

2.750

3.028

30-Year Fixed

3.000

3.143

*Rates are based on AmeriSave’s VA Loan with the following information: loan amount of $260,000, Massachusetts property, and 740 credit score

VA Loans at AmeriValue

AmeriValue makes applying for VA loan fast and easy. But more than this, it allows borrowers to compare multiple quotes from different lenders and select the best loan terms. Overall, a good site to check for the latest information on mortgage and VA loans.

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