Your Guide to VA Home Loan Benefits
Whether you’re a veteran, active-duty service member, or military family, get expert guidance from eligibility to closing and make the most of your VA benefits.
Meet The Veteran Mortgage Wingman
Mark Clark is a civilian benefit and certified VA loan specialist . VA loans are incredibly powerful but also widely misunderstood. His job is to cut through bad advice, explain the rules clearly, and make sure veterans and active-duty service members actually receive the full benefit they’ve earned.Mark is known as the Veteran Mortgage Wingman here to serve, advocate, and help VA buyers avoid costly mistakes from contract to closing and beyond.
Whether you're a veteran purchasing your 3rd home on your VA benefit or PCSing and a first-time homebuyer, our team has you covered.
Education is central to how Mark does that, including teaching VA-focused classes for real estate professionals so VA buyers are better represented throughout the transaction.Outside of work, Mark is married, a proud father of six, and loves to play racquetball and pickleball.
Mark also serves as the the Board Chair for Genesis Joy House, Georgia’s only all-women Veteran homeless shelter because serving those who served doesn’t stop at the closing table.
The Home Loan Process
Mortgage Pre-Approval
Get pre-approved from one of our Loan Officers to see how much you can afford.
House Shopping
Work with a trusted Real Estate Agent to find a home you would like to move into.
Loan Application
Complete your home loan application to get the lending process started.
Don't take my word for it
Mortgage Programs
Experience the best mortgage experience located in Braselton, Georgia.
Home Loan Options
Our experienced mortgage advisors will walk you through the best mortgage loan program that will fit your specific scenario.
Conventional Home Loans.
FHA Home Loans.
USDA Home Loans.
VA Home Loans.
Frequently Asked Questions
How often can I refinance my mortgage?
There is no limit to the number of times you can refinance. However, you must qualify every time you apply and there will be costs associated with closing the loan each time.
Can I buy a home if I do not have money for a down payment?
Yes! There are a number of bond programs that offer low or no down payment financing options.
How do I know which mortgage is right for me?
The key to choosing the right mortgage is to understand the range of options and features available to you, as well as your budget, circumstances, and goals. Our licensed mortgage professionals are here to help you navigate that process. The more you know, the more comfortable and confident you will be choosing the best option for you and your family.
How long will the loan process take?
The Truth in Lending Act (TILA) does not permit a lender to close a loan until at least seven (7) business days have passed from the date your application was received. A typical home loan takes 30 days, as a number of third-party services such as appraisals, title work, and credit are required in conjunction with the mortgage process. Once you familiarize your Loan Officer with the details of your specific loan scenario, they will be able to provide you with a more specific timeline.
Will I qualify for a home loan?
The only way to find out is to speak with a qualified mortgage professional. Our Loan Officers have helped numerous clients who didn’t know if they could qualify to become home owners. We take the time to understand your financial situation and long-term financial goals, and then match you with the loan program that best fits your needs. Your approval for a loan may also largely depend on the price of the home you are financing. Getting pre-qualified prior to beginning your home search can give you an idea of what you may be able to afford.
Why do people refinance their mortgages?
Homeowners typically refinance to save money, either by obtaining a lower interest rate or by reducing the term of their loan. Refinancing is also a way to convert an adjustable loan to a fixed loan or to consolidate debts.
How much money will I have to pay upfront to buy a home?
This question does not have a simple, one-size-fits-all answer. The exact amount will depend on the price of the home you buy as well the type of mortgage financing you choose. Depending on your loan program, your down payment could be as much as 20% of the home’s price or as little as 3%, while some loans require no down payment at all.
Can I get a mortgage after bankruptcy?
You may still qualify for a home loan even if you have experienced a bankruptcy. The best way to find out if you qualify is to talk with a Loan Officer to discuss your options. Be sure to bring all paperwork regarding your bankruptcy so your Loan Officer can find the program that best fits your situation.
Should I lock my interest rate now, or wait until we are closer to our closing?
Interest rates fluctuate all day, every day. If an interest rate is good, it may be in your best interest to lock now. If you wait, you run the risk of an increase in rates later. If you are concerned that rates may go down after you lock, contact your Loan Officer to discuss your options. Some programs allow you to lock for an extended period and choose to lower your rate should a better one become available.
Most Recent Blog Updates
A VA Loan Foreclosure Does Not Mean Your VA Home Loan Benefit Is Gone and Here Is Why
The Conversation Mark Clark Had That Too Many Veterans Never Get to Have
Mark Clark recently spoke with a veteran who had a foreclosure on a VA home loan in his past and believed his VA benefit was gone forever. He had written off the possibility of using the program again and was not even considering it as an option for his next purchase.
That veteran was wrong and the truth he did not know is worth sharing broadly because he is not alone in this misunderstanding.
How VA Entitlement Actually Works
Every eligible veteran has what the VA refers to as two sets of entitlement. Basic entitlement and second tier entitlement which is sometimes called bonus entitlement.
When a veteran experiences a foreclosure on a VA-financed property the basic entitlement that was tied to that loan is affected. The VA paid out on the guarantee and the basic entitlement associated with that transaction is no longer available unless the veteran repays the VA what was paid on the foreclosure. If that repayment is made the basic entitlement is restored and the veteran is back to a full entitlement position.
But here is what most veterans do not know. Even without repaying the VA and restoring the basic entitlement the veteran can still use their second tier entitlement to purchase another home using the VA home loan benefit. The foreclosure on the first loan does not eliminate the benefit entirely. It affects the basic entitlement while the second tier entitlement may remain available.
What This Means Practically
Whether a down payment is required on the subsequent purchase using second tier entitlement depends on the specific numbers involved. The loan amount on the foreclosed property, the amount the VA paid out on that claim, and the purchase price of the new home all factor into the calculation. In some cases a veteran can purchase again with no down payment. In others a down payment may be required to cover the gap between what the remaining entitlement supports and the new loan amount.
The specific outcome is different for every veteran depending on their individual entitlement situation and the details of what happened with the prior loan. This is exactly why working with a VA loan specialist who understands the entitlement framework matters rather than accepting a general assumption that the benefit is gone.
What to Do If You Have a VA Foreclosure in Your Past
Do not assume your benefit is gone. Have the conversation with someone who can look at your specific entitlement situation and tell you exactly what is available and what a path forward looks like.
Reach out to Mark Clark with any questions about VA entitlement after foreclosure or any other aspect of your VA home loan benefit. He will work through the specifics with you.
Sources
VA.gov
MilitaryOneSource.mil
ConsumerFinancialProtectionBureau.gov
MortgageNewsDaily.com
Investopedia.com
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