Frequently Asked Questions

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The required down payment depends entirely on the type of loan you choose. If you are an eligible veteran using a VA loan, or if you qualify for a USDA loan, you can buy a home with 0% down. FHA loans require a minimum of 3.5% down. Conventional loans typically require between 3% and 5% down for first time buyers, though putting down 20% will help you avoid paying private mortgage insurance (PMI).

A pre-qualification is a basic overview of your financial health. You tell the lender your income and debts, and they give you an estimate of what you might afford. A Pre-Approval is much stronger. For a pre-approval, Danny Plattner and our team will actually pull your credit report and verify your income and asset documents (like W2s, pay stubs, and bank statements). A pre-approval carries much more weight with real estate agents and home sellers in Marana.

On average, the mortgage process takes about 30 days from the time your purchase contract is accepted to the day you close. However, at United States VA Loans, we pride ourselves on efficiency. Depending on the complexity of your file and the specific loan program, we can often close loans in 21 days or less.

No. Your VA loan benefit is a lifetime benefit. You can use a VA loan multiple times throughout your life. In some cases, depending on your remaining entitlement, you can even have more than one active VA loan at the same time.

No. Both FHA and VA loans are strictly for primary residences. You must intend to live in the home for at least 12 months. If you are looking to purchase a rental property or a vacation home in Marana, you will need to utilize a Conventional mortgage.

Closing costs are fees associated with processing and securing your loan. They typically include appraisal fees, title insurance, origination fees, recording fees, and prepaid property taxes and homeowners insurance. Closing costs usually range from 2% to 5% of the loan amount. While the buyer is typically responsible for these costs, your real estate agent can sometimes negotiate for the seller to pay a portion of your closing costs (known as seller concessions).