Phoenix, AZ -- (SBWIRE) -- 07/09/2012 -- Executives at The Lending Co., a Phoenix home loans business, today announced the company is offering FHA and VA loans with fixed rate mortgages. The company also offers adjustable rate mortgages for clients who prefer an ARM over a fixed rate. Some surviving spouses of veterans may qualify also quality for a VA loan which is a plus for new widows.

Veterans who are looking for home loans Arizona are encouraged to visit The Lending Co.’s website to learn more about their products which were created exclusively for veterans. The company’s VA loans offer long-term, fixed or adjustable rate loans at extremely competitive financing to American veterans. Active duty personnel qualify for loans as well as National Guard members and reservists.

Every VA loan is issued by federally qualified lenders and they are guaranteed by the United States Department of Veterans Affairs.

The VA will almost always insure a loan when the applicant’s monthly mortgage payment constitutes up to 41% of their gross monthly income. A traditional loan would set the limit to about 28% which is why veterans and their spouses are encouraged to use a VA approved lender. It is also easier for veterans with less than perfect credit to qualify for a VA Loan than a conventional loan.

VA Loans also allow veterans to qualify for larger loan amounts than traditional Fannie Mae conforming loans and there is a ‘no down payment’ option available on many VA loans for single family homes.

Married veterans with children qualify a lot faster as well.

Veterans are allowed to borrow up to 102.15% when purchasing a home and finance 20% of a second mortgage with up to $6,000 for energy efficient home improvements. This option doesn’t require private mortgage insurance which is an additional savings for the homebuyer.

About The Lending Co.
The Lending Co. is committed to providing clients with the highest quality home loans combined with some of the lowest loan mortgage rates available. Whether people are a first time home buyer, purchasing a second home, refinancing existing loans, or consolidating debt, our highly experienced team of mortgage bankers can get people a loan to help make their dreams come true.