Find VA Loan Specialists Near You in Longmeadow, MA
Compare va loan specialists in Longmeadow. Review contact information and insurance categorys before you decide.
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State Mortgage Licensing Authority of Massachusetts before hiring.
Showing 6 va loan specialists in Longmeadow, MA
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What Does a VA Loan Specialist in Longmeadow Cost?
VA loan specialists in Massachusetts typically charge a flat fee or a percentage of the loan amount. Common fees range from 1% to 2% of the loan value, or a flat fee of $1,500 to $3,500 for standard purchase loans. The VA also charges a funding fee, which is 2.15% for first-time use with zero down payment, though this can be waived for disabled veterans. Closing costs in Massachusetts average 3% to 5% of the loan amount. This is general information, not mortgage or financial advice.
* Cost estimates are general ranges based on publicly available data and compiled using automated research tools. Actual fees vary by agent and case complexity. This is not mortgage or financial advice — consult directly with an agent for fee specifics.
Frequently Asked Questions
What are the eligibility requirements for a VA loan in Longmeadow?
Eligibility requires meeting VA service time standards, typically 90 days of active duty during wartime or 181 days during peacetime. You must also obtain a Certificate of Eligibility from the VA. Massachusetts does not impose additional state eligibility rules beyond federal requirements.
Are there Massachusetts-specific benefits for VA loan borrowers?
Yes, Massachusetts exempts VA loans from the state deed excise tax, which is normally $2.28 per $500 of property value. This can save borrowers several hundred dollars at closing. The state also prohibits prepayment penalties on VA loans.
How long does the VA loan process take in Longmeadow?
The typical VA loan process takes 30 to 45 days from application to closing. Massachusetts law requires a 3-day right of rescission for refinances. Local appraisal and title searches may add a few days depending on the property location.