Maritime Mortgage Corp has been providing access to VA loan financing since 1991.
Veterans Administration (VA) Mortgages are restricted to veterans and the spouses of veterans. This earned benefit from U.S. military service allows 100% financing to qualified veterans. Maritime Mortgage Corp can assist veterans with obtaining the necessary documentation to determine VA mortgage eligibility.
VA Fixed Rate Mortgages are available in 15-30 year loan terms. These have traditionally been the most popular choice for people who intend to own their property for 5 years or more. Due to the fixed interest rate, the monthly mortgage payment remains consistent over the life of the loan.
VA Adjustable Rate Mortgages (ARMs) are based on a 30-year loan term, with the interest rate adjusting to market rates over the life of the loan. Typical adjustment periods range from 1-5 years. These loans are attractive to borrowers who don't plan to keep their property over the long term and can benefit from a lower initial interest rate. Initial adjustable rates are lower than comparable fixed rates.
VA Loan limits The loan limits for all VA loans will vary by individual county limits. In Massachusetts, single-family home loan limits range from $417,000 and can go as high as $723,750 in higher cost areas. Multi-unit buildings have the same loan limits as single-family homes.