Maritime Mortgage Corp has been proudly helping our countries bravest access VA loan financing since 1991. We thank each and every member of our armed forces and their families for their sacrifice.
Veterans Administration (VA) Mortgages are reserved for veterans, active duty service members, members of the National Guard or Reserves, and the widows/spouses of veterans. This earned benefit from U.S. military service allows 100% financing for qualified veterans. Maritime Mortgage Corp can assist VA candidates 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 $484,350 and can go as high as $726,525 in higher cost areas. Multi-unit buildings have the same loan limits as single-family homes.