VA loans - Franklin Financial Group, Inc.

VA Loans

VA guaranteed loans are made by lenders and guaranteed by the U.S. Department of Veteran Affairs (VA) to eligible veterans for the purchase of a home. The guaranty means the lender is protected against loss if you fail to repay the loan. In most cases, no down payment is required on a VA guaranteed loan and the borrower usually receives a lower interest rate than is ordinarily available with other loans.

Other benefits of a VA loan include:

Negotiable interest rate.
Closing costs comparable – and sometimes lower - than other financing types.
No private mortgage insurance requirement.
Right to prepay loan without penalties
Mortgage can be taken over (or “assumed”) by the buyer when a home is sold.
Counseling and assistance available to veteran borrowers having financial difficulty or facing default on their loan.

Although mortgage insurance is not required, the VA charges a funding fee to issue a guarantee to a lender against borrower default on a mortgage. The fee may be paid in cash by the buyer or seller, or it may be financed in the loan amount.

A VA loan can be used to buy a home, build a home and even improve a home with energy-saving features such as solar or heating/cooling systems, water heaters, insulation, weather-stripping/ caulking, storm windows/doors or other energy efficient improvements approved by the lender and VA.

Veterans can apply for a VA loan with any mortgage lender that participates in the VA home loan program. A Certificate of Eligibility from the VA must be presented to the lender to qualify for the loan.

We are proud to announce that we made the Business Courier 2008 Book of Lists as one of the Largest Tri-State Residential Mortgage Lenders

Franklin Financial Group, Inc is a proud member of the TotalChoice Network, LLC. The TotalChoice Network provides individual consumers with multiple resources to choose from to help them achieve their financial goals. Companies and HR departments are able to utilize the tools necessary to meet daily business needs and answer employee questions all in one place.

With today’s difficult economy what could be easier than having one place to obtain trusted advice to help you create the right financial blue print. TotalChoice Network puts these tools right at the consumers’ fingertips. From new college graduates to those entering retirement, our network of professionals will offer individuals and families a wealth of products and services to meet all of their needs and help answer all of their financial questions.

Franklin Financial Group, Inc is proud to partner with Majestic Security, LLC to offer IDENTITY THEFT PROTECTION AND RESTORATION. Identity theft has become the number one white-collar crime in America. At the rate this crime is growing, it is not a matter of "IF" you will become a victim, but rather "WHEN" you will become a victim. Every American needs to be protected! To learn more about how to protect you and your family, please click on the link below. Contact Franklin Financial Group, Inc for special pricing options available.

Franklin Financial Group, Inc. is a strong supporter of the Cystic Fibrosis Foundation. To learn more or to make a donation, please click on the link above.

Franklin Financial Group is Licensed and Regulated by the State of Ohio, Department of Commerce, Division of Financial Institutions, Certificate No: MB.802894.000; the State of Florida, Office of Financial Regulation, Audit No: MBB 0701709; the Commonwealth of Kentucky, Office of Financial Institutions, File No: 20297. NMLS # 1194