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Embark on your journey toward mortgage approval right here.

At Rate Simple, securing your dream home begins with the first step of the mortgage approval process. By initiating your application with us, you're taking the essential stride toward turning your homeownership aspirations into reality.

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Attention homebuyers, veterans, and active duty military, our dedicated team is here to support you every step of the way. We offer a simple yet effective process to provide current market rates, to help get you going on your mortgage journey.

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Rate Simple, Inc. | NMLS ID# 2232647 | NMLS Consumer Access Link

8383 Wilshire Boulevard, Suite 540/B, Beverly Hills CA 90211

If you have any questions, comments, or concerns, please email us at management@ratesimple.com By submitting this form, I agree that Rate Simple may contact me at the phone number provided.via automated technology, including autodialing, prerecorded message, artificial voice, and/or text message. I understand that I do not have to consent to receive such calls or text messages to purchase goods or services from Rate Simple

This site is not authorized by the New York State Department of Financial Services. No mortgage loan applications for properties located in the State of New York will be accepted through this site.

  1. A Rate Simple HELOC is secured with your home as collateral, whereas personal loans and credit cards are not.
  2. To check the rates and terms you qualify for, we will conduct a soft credit pull that will not affect your credit score. However, if you continue and submit an application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.
  3. Approval may be granted in five minutes but is ultimately subject to verification of income and employment, as well as verification that your property is in at least average condition with a property condition report. Five business day funding timeline assumes closing the loan with our remote online notary. Funding timelines may be longer for loans secured by properties located in counties that do not permit recording of e-signatures or that otherwise require an in-person closing, or that require a waiting period prior to closing.
  4. The Rate Simple Home Equity Line of Credit is an open-end product where the full loan amount (minus the origination fee) will be 100% drawn at the time of origination. The initial amount funded at origination will be based on a fixed rate; however, this product contains an additional draw feature. As the borrower repays the balance on the line, the borrower may make additional draws during the draw period. If the borrower elects to make an additional draw, the interest rate for that draw will be set as of the date of the draw and will be based on an Index, which is the Prime Rate published in the Wall Street Journal for the calendar month preceding the date of the additional draw, plus a fixed margin. Accordingly, the fixed rate for any additional draw may be higher than the fixed rate for the initial draw.
Learning Center|VA Home Loans

VA Home Loans

As a valuable service benefit, the Department of Veterans Affairs extends exclusive resources to assist individuals with military backgrounds in purchasing a home with a minimal or even zero down payment. VA Loans offers versatile options, including both fixed and adjustable mortgage rates.

VA loans are accessible, allowing buyers to finance the entire purchase price of a home, eliminating the need for a down payment. It's essential to understand that buyers must still meet loan qualification criteria. Lenders will assess their creditworthiness and ability to meet mortgage payments. In financial challenges, lenders may require debt reduction or savings accumulation before granting the loan.

Additionally, buyers may be responsible for covering closing costs, including title recording and attorney fees for document preparation. These expenses can be negotiated with the seller and should be discussed with your real estate agent before submitting a home offer.

The VA Loan Process:

The VA loan process closely resembles typical home purchases. Buyers submit a written offer to purchase a home under specified conditions (price, closing cost assistance, contingencies) and undergo an approval process with a lender. The distinctive aspect of a VA loan is that the Department of Veterans Affairs mandates specific habitability standards for homes purchased through this program. They dispatch a home inspector and appraiser to ensure the property is in good condition and merits the purchase price.

This phase may occasionally result in delays, mainly if repairs are necessary after the inspector's assessment. Home issues do not necessarily disqualify a buyer from using the VA loan; they indicate that repairs must be completed before the home purchase is finalized. The VA has recently introduced a limited program for VA loans applicable to homes needing renovation.

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How VA Loans Operate:

  • Purchase your home with as little as a 0% down payment.
  • Fixed-rate terms of 30, 25, 20, and 15 years are available.
  • A 5-year adjustable-rate mortgage option is also offered.
  • Jumbo VA loans are available.
  • VA Streamline Refinance offers reduced funding fees and flexible documentation requirements for veterans with existing VA loans.
  • No monthly Private Mortgage Insurance (PMI) is required.
  • The U.S. Department of Veterans Affairs governs VA loans.
  • No pre-payment penalties allow you to pay off your mortgage anytime.

Minimum FICO Score

  • Zero credit is needed.
  • Alternative Tradelines may be submitted as proof for on-time payments over 12 months.
  • Credit will dictate the cost associated with the rate at the time of purchase.

Down Payment

No down payment required

Occupancy

Primary residence

Other Important VA Loan Features

  • Upfront funding fee financed
  • No monthly mortgage insurance is required
  • 100% gift funds allowed
  • Up to 4% seller contribution towards closing costs and personal debts