Urbandale, Iowa -
Des Moines, Iowa, mortgage broker Louie Wickett is helping active-duty servicemen, veterans, and their families understand the difference between a conventional mortgage and a VA mortgage.
Louie explains his efforts to bring awareness to the many benefits offered by VA mortgages by saying, “Active-duty servicemen lose out on a lot of wealth generation opportunities, that they would have had if they did not selflessly volunteer for one of the noblest callings in society today. The government’s many VA mortgage programs offer veterans a way to make up for that lost time and income. I feel honored to help guide our country’s bravest souls through the options that they have available to them. As a mortgage broker and proud American, it is the least that I can do to show my appreciation for their sacrifice. If you have a Certificate of Eligibility from the VA, call me today and I’ll set you on the road to homeownership. If you want to find out more about my home financing services, I urge you to check out this news article that covers my work in Des Moines in detail.”
VA mortgages offer a plethora of advantages over conventional mortgages and a few downsides. Louie Wickett maintains that the few disadvantages that VA mortgages have are not deal breakers in the slightest as the pros outweigh the cons by a huge margin. First, a VA mortgage can only be used to purchase a property that is a veteran or their family’s primary residence. A VA mortgage cannot be used for purchasing secondary residences or investment properties. Second, while conventional mortgages require the homeowner to pay a closing fee, VA mortgage beneficiaries need to pay them too as well as a funding fee that can be anywhere between 1.4% to 3.6% of the principal amount.
One of the biggest advantages of qualifying for a VA mortgage is that the homeowner is not required to make a down payment. This is a lifesaver for many veterans as they might not have the resources to save up for the down payment for a conventional mortgage which starts at a 3% minimum and goes up. The VA has also set no minimum credit score and maximum debt-to-income ratio requirements for a VA mortgage. This means that veterans, who dedicated the best years of their lives to serve the country and have not had a chance to build up a credit history, do not have to face rejection when applying for a conventional mortgage, as brokers generally look for a credit score of at least 620 and a maximum debt-to-income ratio of 43%. Finally, there are no principal limits on a VA mortgage and there is no need to pay mortgage insurance as all VA mortgages are backed by the government. The only caveat here is that the applicant should not have defaulted on two or more VA mortgages in the past.
Louie Wickett (NMLS ID 1212160) represents Homeside Financial which is an Equal Housing Opportunity Lender and is actively licensed in IA, IL, MO, FL, CA, and CO. Apart from helping veterans find the perfect mortgage, Louie also helps clients in Des Moines, Iowa, and nearby areas secure conventional mortgages, USDA mortgages, and FHA mortgages. Louie’s services have been well received by the Des Moines community. He has maintained a perfect rating of 5.0 out of 5.0 on his Google My Business profile from almost 240 reviews.
Iowa residents who are in the market to purchase a property are also encouraged to check out Louie Wickett’s YouTube channel where he regularly publishes short videos covering frequently asked questions about mortgages such as “What Is The Difference Between Mortgage Rates?”, “How Do You Buy $40,000 More House While Keeping Your Monthly Payments The Same?”, “Can You Use A Gift For A Down Payment For A Mortgage?”, “Is Single Premium Mortgage Insurance a Better Option?”, and more.
Des Moines readers who qualify for a VA mortgage can contact Louie Wickett from Key Mortgage Group at (515) 238-9949 or email@example.com.
Louie Wickett takes great pride in educating his customers on the home buying or home refinancing process. His favorite part about the job is building strong relationships with his customers to make them feel like family from start to finish.
2370 Northwest 128th Street
Urbandale, IA 50323
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