Published on 14, Feb 2023

Brian Jahanbin and Maxim Lending Corp: Why VA Home Loans Are Perfect for Any Housing Market

Veterans who are concerned about the rising prices of homes across the United States will be reassured to know that no-money-down financing is available for them. Brian Jahanbin, the founder and president of Maxim Lending Corp, explains that his mortgage brokers regularly obtain VA loans for up to $726,200 for individuals whose credit scores are as low as 500 in 11 states. “We love working with veterans in particular because we see it as our way of giving back to people who are sacrificing so much for all of us,” says Brian Jahanbin. “Helping veterans to obtain their dream homes for themselves and their families is a true pleasure for us at Maxim Lending Corp.”

The basics of VA loans

The VA Home Mortgage Program extends loans to members of the Army, Navy, Air Force, and Marines as well as Reservists and National Guardsmen. Brian Jahanbin says that it’s an excellent loan for those who would like to own a home because it is safe and can cover the cost of a new home even in today’s market. 

“When you remember that no money down is required and that its benefits have been increased for veterans, active duty personnel, and disabled veterans, you can see why it’s so popular with mortgage seekers,” he states.

The deeper details of VA home loans 

The first point to remember about the VA Home Mortgage Program is that a veteran can use it multiple times. Whether the service member would like to finance just one property or many, they can apply for a VA home loan as needed.

“I have seen this work out to a Veteran’s advantage, especially if they want to invest in homes and perhaps refurbish them before renting or reselling them,” says Brian Jahanbin. “VA home loans make it easier for them to start their entrepreneurial dreams.”

The VA Mortgage Loan Program also has some perks not usually found with other mortgages, including the waiving of the homeowner’s insurance requirement.

“As great as that is, one of the best benefits concerns closing costs,” Brian Jahanbin believes. “If the VA Home Mortgage Loan covers all of the home’s selling price and the seller pays for the closing costs, then you could find yourself in the fantastic position of paying no out-of-pocket costs - none at all.”

Funding fees for VA loans

Normally, a new homeowner will pay for expensive mortgage insurance when they have a conventional loan. However, with a VA loan, this is replaced by a funding fee of .5-3%. With FHA mortgages, the applicant must provide at least 3.5% of the loan amount, which is then added to the amount of the loan to be repaid over the life of your VA home loan. Disabled veterans can qualify to have this fee be completely waived.

Assumable VA mortgage loans

“An assumable loan means that you will sell your home to someone who agrees to take over, or assume, your loan,” says Brian Jahanbin. “That’s determined in part by whether the VA or loan holder approves the person’s credit worthiness. Why does this matter to a veteran? Well, remember that if the person assuming the mortgage is a veteran with VA eligibility, the original veteran will not give up the amount of eligibility that they used to get the loan at the beginning. This is significant because the benefits of a VA loan are too big to give up.”

Qualifying for a VA mortgage loan

As mentioned, Maxim Lending Corp often helps veterans take advantage of the VA’s low qualifying standards. With no credit scoring used in the program’s loan analysis, veterans can qualify for a mortgage even if they have had financial issues so long as their payment record for the past twelve months has been good. 

“This is where the VA Mortgage Loan Program really stands out because as so many of us know, if we try to obtain a conventional loan and our credit scores are low, we will end up paying very high fees or not qualifying at all,” Brian Jahanbin states. 

Refinancing for VA mortgage loans

While both conventional loans and VA mortgage loans can be refinanced, only the latter avoids the credit checks, appraisals and income/asset verification that can slow the process down or halt it altogether. 

Interest Rate Reduction Loans allow veterans to more easily secure lower interest rates and can even eliminate out-of-pocket costs by including the transaction cost in the loan. 

The takeaway for veterans who would like to own a home

“The housing market will always go up and down, and there’s no denying that the past few years haven’t been easy for buyers,” says Brian Jahanbin. “Fortunately for veterans, however, Maxim Lending Corp can help them obtain 100% financing for new purchases using the best mortgage options out there: VA home loans. Please feel free to give us a call to pick our brains about becoming a homeowner, and again, thank you for the selfless service you provide to Americans.”

Maxim Lending Corp is a full-service brokerage firm founded by Brian Jahanbin, who rose in the mortgage industry by working as a top-producing loan officer and branch manager for major lenders. Brian Jahanbin was also ranked in the top 1% originators in the United States in 2019, 2020, and 2021 and has closed over $1B in mortgage transactions in the past 20 years. Today, Maxim Lending Corp assists loan applicants nationwide, is licensed in multiple states, and offers conventional, FHA, VA, jumbo, hard money, and NQM loans. 

For more information about Maxim Lending Corp and its no-income verification loans for investment properties and loans for borrowers with credit scores as low as 500, please visit www.maximlending.net or contact:

Brian Jahanbin
Maxim Lending Corp

1-888-345-9333

brian@Maximlending.net