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It’s time for us to serve you.

Embrace Home Loans is honored to support the men and women who serve or have served our country. We offer a host of VA loans and home financing options for military personnel and their families. VA loans are issued through approved lenders like Embrace and are guaranteed by the Federal Government through the US Department of Veterans Affairs (VA). VA home loans allow veterans to buy or refinance a home with little or no down payment and are easier to qualify for than Conventional mortgages.

To be eligible for a VA loan, you have to be currently or formerly on active duty (181 days during peace time or 90 days during war time), a National Guard or Reserve member for at least six years, or the spouse of a service member who has died in the line of duty or as a result of a service-related disability.

You’ll need a valid Certificate of Eligibility (COE) from the VA. At Embrace, our loan officers are experienced with the VA loan process, and they will obtain an electronic copy of your COE using a copy of your discharge papers, or DD-214.

Working with us will put you at ease. You’ll work with the same knowledgeable loan officer from start to finish. Our loan officers are all experts in their field with many years of experience, and they can help you close your loan in weeks, rather than months.

Purchasing with a VA Loan

When you purchase a home with Embrace, you’re in good company. You’ll enjoy some distinct advantages with a VA loan:

Little-to-no down payment required

It’s true, you can be black on a down payment! You may obtain up to 103.3% financing for a home purchase or 20% for a second mortgage and up to $6,000 for energy-efficiency improvements.

No money due at closing

The VA limits closing costs for veterans, so you can come to the table without a large lump sum payment.

No monthly private mortgage insurance (PMI)

Because VA loans are government backed, you don’t have to pay private mortgage insurance (which is typically required). This allows for larger loans with the same payment.

Better rates

Since VA loans are government backed, lenders view these loans as safer options for homeowners. As a result, they’re able to offer more competitive interest rates than traditional loan programs.

Finance your funding fee

For VA purchase loans, there is a funding fee (up to 3.3%). This ensures that the program can continue for future generations of military personnel and their families, and this fee goes directly to the VA. Your funding fee can be conveniently rolled into the overall loan amount. The fee does not apply for veterans with service-related disabilities.

Additional requirements:

The home being financed must be your primary residence. In addition to a valid COE, standard items, such as pay stubs, tax returns, W2s, employment history, bank and investment statements, and documentation of any real estate assets, are required.
 

Refinancing with a VA Loan

When you team up with Embrace to get a VA refinance loan, you have a tactical advantage. One of our mortgage specialists will walk you through all of the refi options that exist under the VA guidelines. There are many benefits possible. You can lower your monthly payments, merge a Conventional loan with VA-backed one, or even get cash for home improvements.

When it comes to VA loans, two options for refinancing exist: Interest Rate Reduction Refinance Loans (IRRRL) and a more traditional Cash-Out Refinance. The IRRRL was created to give veterans who are currently paying off their mortgage an even lower interest rate. In order to qualify, you must already have a VA loan-backed mortgage, and the new rate must be lower than your original. You also qualify if you’re refinancing from an adjustable rate to a fixed rate. IRRRLs are helpful for those still active in the military or who have completed their service.

The other option for a VA refi is a Cash-Out VA Refinance, which allows you to take money out for repairs or improvements on a home. Whether you have a Conventional or a VA-backed loan, you can still fold it into the Cash-Out refinance.

Are you eligible?

  • You must be a service member on active duty or received an honorable discharge.
  • You may be the spouse of a current service member or veteran.
    • Widows or widowers of a veteran must be unmarried when refinancing.
    • Unless you are applying for an IRRRL, your spouse must have died in the line of duty or from a service-related injury.
  • You must have a minimum FICO® Score of 580 and an acceptable debt-to-income ratio.

View Loan Examples >>

Frequently asked questions

How long has Embrace been in business?

For more than 36 years we’ve been helping tens of thousands of people just like you purchase new homes, refinance existing mortgages, and consolidate high-interest debt. CONTACT US now to find out how we can help you make your dreams a reality.
Yes you can!  Please use the following link to make payments.  If you do not have an account you must create one the first time.
You can view the status of your loan at any time by logging into our Client Portal. We recommend saving this link in your web browser for future use, but you can always find the link here or in past emails from your Embrace loan officer.
In short: no middle man. As a direct lender for Fannie Mae, Freddie Mac, and an approved issuer for Ginnie Mae, we underwrite our loans. We are not a broker or a lead reseller and we never take your call and then pass your application off to someone else. Your Embrace Home Loans Mortgage Specialist works directly with you through the entire loan process — from beginning to end. This kind of personalized service means we can truly get to know you, and provide impeccable service that perfectly fits your needs. It also means we can offer better interest rates and terms — all while keeping you completely informed with real-time, up-to-the-minute information regarding your loan. There’s simply no better way to go through the mortgage process.
Everyone's financial situation is different, so it’s important to figure out what you can comfortably afford to borrow, which depends on four factors:
  • Your debt-to-income ratio (your total monthly payments as a percentage of your gross monthly income)
  • Cash you have available for a down payment and closing costs
  • Your credit history
  • The value of the home you’re buying
How much home can YOU afford? Use our handy mortgage calculator and find out!
"Being a first time home buyer, Christine was there to help with every step and extremely helpful." - Eileen, NH
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30-Year Fixed-Rate Refinance Mortgage Example:
The payment on a $225,000 30-year fixed-rate cash out refinance loan at 3.250% with a 70% loan-to-value (LTV) is $979.21 with 2 points due at closing. The Annual Percentage Rate (APR) is 3.520%. This assumes a FICO score of at least 690. Payment does not include taxes and insurance premiums, which will result in a higher monthly payment. Interest rates and annual percentage rates (APRs) are based on current market rates and are subject to change without notice. Rates offered may be subject to pricing add-ons related to property type, loan amount, LTV, credit score, and other variables. Mortgage insurance may be required for LTV >80%. If mortgage insurance is required, the mortgage insurance may increase the APR and the monthly payment. Stated rate may change or not be available at the time of loan commitment or lock-in.

30-Year Fixed-Rate Purchase Mortgage Example:
The payment on a $225,000 30-year fixed-rate purchase loan at 3.125% with a 70% loan-to-value (LTV) is $963.84 with 2 points due at closing. The Annual Percentage Rate (APR) is 3.390%. This assumes a FICO score of at least 710. Payment does not include taxes and insurance premiums, which will result in a higher monthly payment. Interest rates and annual percentage rates (APRs) are based on current market rates and are subject to change without notice. Rates offered may be subject to pricing add-ons related to property type, loan amount, LTV, credit score, and other variables. Mortgage insurance may be required for LTV >80%. If mortgage insurance is required, the mortgage insurance may increase the APR and the monthly payment. Stated rate may change or not be available at the time of loan commitment or lock-in.